One of Cornwall’s oldest hotels sold for seven figure sum

An iconic hotel in Cornwall has changed hands for an undisclosed seven figure sum.

The grade II listed Whitsand Bay hotel and its substantial grounds have been purchased by the Matthews family as part of a significant £6m development project.

The husband-and-wife team, supported by their three sons, hope to restore the hotel to its former glory, inclusive of spa facilities, gym, and swimming pool.

In addition, seven houses – including three luxury detached homes – and a number of apartments will also be created on the spacious two acre site.

The project is expected to require an investment in excess of £6m and take around three years to complete.

Split over three phases, the first stage will see the construction of three luxury homes, followed by the development of several other residential properties, before refurbishing the hotel in the third and final phase.

Husband and wife, Louisa and Terry Matthews, will be supported by their three sons as they transform this current derelict site into a thriving site and business once again.

The work will be undertaken under the company name, Portwrinkle Developments and Hospitality Ltd.

Of both local and historical significance, the Whitsand Bay Hotel is one of Cornwall’s oldest hotels, dating back to 1910.

It closed in December 2018 and planning permission was secured to transform the main building into 18 apartments.

Existing consent was already in place for a further four-bedroom detached house and three detached town houses.

Located in the coastal village of Crafthole, the hotel is just minutes from the beach and boasts a breath-taking cliff top location with stunning sea views.

GA Solicitors’ commercial property department advised the new owners on all aspects of the property purchase and its various assets, including funding and refinancing.

The site was marketed and the sale secured by Lang Town & Country’s Land & New Homes division.

It is hoped the redevelopment of the site will lead to the employment of at last 50 people, with a further 30-40 staff being required to run the hotel when it is up and running.

Tony Dupreez, partner of GA Solicitors and the commercial property solicitor who advised on the purchase, commented: “This site is of huge importance to the local area. Not only will it employ a local workforce, but the hotel will once again attract visitors from all over the country. With the beach and a high-quality golf course just minutes away, it certainly ticks a number of coveted boxes.

“I was delighted to support and work with Louisa and Terry on this project and will look forward to seeing the project unfold over the next three years.”

Louisa Matthews added: “It has taken some time to get to this point and we are very excited to now be able to take this project forward. Although the hotel has planning permission to become apartments, we really wanted to maintain its heritage and integrity, instead choosing to refurbish the building and bring it back to its former glory.

“My husband and I, along with our three sons, will oversee all aspects of this development and will strive to deliver a high-quality site which makes the most of its breath-taking location.”

Work will begin immediately, with the first three properties to be on the market by late 2023 / early 2024.