The Greenbank Hotel has acquired the freehold of The Falmouth Hotel in Falmouth, Cornwall, UK, for a guide price of £7.5m ($9.53m).
The sale of freehold has been facilitated by Savills, on behalf of Richardson Hotels.
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With ‘excellent’ sea views, the Grade II Listed hotel features 71 en-suite bedrooms and a spa with a fully equipped gym, indoor heated swimming pool, hot tub, sauna and various treatment rooms.
It also comprises an AA rosette-rated Castle Restaurant and bar with expansive views, as well as three function rooms to accommodate up to 170 guests.
Situated in a prime location in Falmouth, the hotel overlooks Castle Beach and is near Gyllyngvase Beach, the town’s largest beach.
Savills associate director for hotel capital markets Harriet Fuller said: “We are delighted to have assisted Richardson Hotels in disposing of this excellent property as part of their long-term strategy. The Falmouth Hotel is one of Falmouth’s best-known hotels, with further opportunities to increase the hotel’s offering, subject to obtaining the necessary consents.”
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By GlobalDataFurthermore, Richardson Hotels is looking to divest the Abbey Sands Hotel in Torquay, Devon, for £1.95m.
The 47-bedroom hotel features sea views, a ballroom, a restaurant and bar, and gardens with an outdoor swimming pool.
In March 2024, Richardson Hotels owner Keith Richardson said: “I have decided to sell these hotels as part of a retirement strategy. The purchaser of these hotels will inherit excellent staff and I am sure they will continue to look after our staff, guests and these fabulous hotels going forward.”
