Sold Hotel – Esplanade Hotel
Christies UK have sold the Esplanade Hotel in Devon, England.
On behalf of Coast & Country Hotels, specialist hotel property adviser, Christie & Co, is pleased to report the sale of the Esplanade Hotel in Paignton, Devon. The hotel will be managed by Bangkok-and UK based hotel management company, Compass Hospitality.
The Esplanade Hotel is located on the Paignton seafront, close to the old harbour, beach promenade and town centre. The property features 84 ensuite bedrooms, 50+ parking spaces and plentiful public areas including a ballroom and restaurant.
The hotel has historically focused on accommodating coach groups but is currently being used to house asylum seekers.
Harmil Singh, President and CEO of Compass Hospitality, comments, “We are pleased to have The Esplanade Hotel complement our portfolio of properties in the UK. It stands as a testament to our commitment to enhancing our collection of growing UK properties. As we continue to expand our presence in the dynamic landscape of the UK hospitality industry, Compass Hospitality remains dedicated to forging partnerships and pursuing acquisitions that align with our vision.”
Stephen Champion, Director in Christie & Co’s Hotel team, who acted for the seller, comments, “We are delighted to announce the sale of the Esplanade Hotel in Paignton after a sales process that generated significant buyer interest and competitive offers from a number or parties.
“The property is one of the 33 hotels, located in leading resort and leisure destinations across England, Scotland, and Wales, that we are currently marketing on behalf of Coast & Country Hotel Collection. The hotels have received very strong interest to-date and a limited number of these assets remain available, so we invite any interested parties to get in touch.”
Enquiries regarding the remaining Coast & Country Hotels on the market should be directed to Jeremy Jones, Head of Hotel Brokerage at Christie & Co.