Singapore investors step in to acquire Weston hotel
A Victorian hotel in Weston-super-Mare has been sold to Singapore investors The Fragrance Group.
The sale of the Coast & Country Hotel was overseen by specialist property adviser Christie & Co.
Fragrance Group has appointed RBH Hospitality Management to operate the hotel following the deal.
The management company currently operate 10 other Fragrance owned hotels.
James Barnett, legal director at Foot Anstey, acted for Fragrance in the acquisition of the 72-bedroom property.
Jeremy Jones, head of hotel brokerage at Christie & Co, acted for the vendors.
He said: “We are delighted to announce The Grand Atlantic will be joining Fragrance Group’s growing list of leisure and city centre-based UK hotels.
“The property is one of the 33 leisure-focused hotels that we are currently marketing on behalf of Coast & Country, which have received very strong interest to date.
“Positioned in leading resort and leisure destinations across England, Scotland and Wales, the portfolio represents some of the best-known hospitality businesses in their respective markets.
“A number of these assets remain available, and we invite any interested parties to get in touch.”
James Greenslade, director of hotel capital markets at Savills, acted for Fragrance Group.
He said: “Savills are pleased to have acquired The Grand Atlantic on behalf of the Fragrance Group and we look forward to seeing its success as part of their portfolio in the future.”
Martin Rogers, representing Fragrance Group, added: “The Grand Atlantic Hotel is a wonderful addition to Fragrance Group’s growing portfolio, and we are delighted to be able to continue investing in the UK regional markets, in particular seaside destinations.”