Knight Frank has been appointed to sell Best Western Hotel Bristol, a grand art deco hotel in the coastal town of Newquay. Situated on the North Cornish coastline with stunning sea views and immediate access to Tolcarne beach, Hotel Bristol comprises 74 en suite bedrooms arranged over three upper floors which are centred around a large open-air forecourt. Originally built in the Victorian era and later extended in 1934, the hotel retains much of its original art deco interior and is up for sale for the first time in 94 years following decades of family ownership.
Best Western Hotel Bristol houses a recently refurbished contemporary art deco cocktail bar and lounge with room for up to 70 covers, as well as a large public restaurant surrounded by floor to ceiling windows. The hotel has a total of seven function rooms, with the Ballroom able to accommodate up to 300 guests, making it ideal for weddings and large events. Aside from the hotel and its car park, there is an opportunity to acquire additional assets and land, which are available under separate negotiation to include an adjoining four-bedroom residential house, five garages/lock up units and an 80-space pay and display car park which measures just under half an acre which, subject to planning permission could suit an alternative/residential use.
Matthew Smith, Partner in the Hotels team at Knight Frank, commented: “Having been in the same family ownership for 94 years, this really is a once in a lifetime opportunity to acquire Hotel Bristol. The business will appeal to an array of buyer profiles and provides significant rebranding/re-positioning opportunities to capitalise on the private leisure market. Once restrictions were relaxed last year, many South West hoteliers reported phenomenal trading performance from July to October and in some cases generated a normalised 12 month profit over a four month period. As we plan to exit this current lockdown, with hotels due to fully reopen in May, given the pent-up demand for staycations for the both the short and longer term, this represents a great opportunity to acquire a substantial coastal hotel asset with significant future upside.”
Howard Young, Managing Director of Hotel Bristol, commented: “After more than 90 years of owning and managing the iconic Hotel Bristol my family have decided it is the right time to seek a new owner to continue this stewardship. My children have decided they wish to seek new opportunities and careers away from the hospitality industry and we believe that now is the right time to pass the baton to a new owner.”
Knight Frank is seeking offers in excess of €4.05m (£3.5m).