The Old Quay House Hotel bought by South African private equity fund

George Sell By George Sell
04 September 2015 | Updated 04 September 2015

UK: The Old Quay House Hotel in Fowey, Cornwall, has been acquired by Fairtree Hospitality Real Estate Private Equity Fund, managed by Fairtree Capital.

UK: The Old Quay House Hotel in Fowey, Cornwall, has been acquired by Fairtree Hospitality Real Estate Private Equity Fund, managed by Fairtree Capital.

It is the fund's first acquisition in the UK hospitality market, and was sold for the guide price of £1.9 million.

The 11-bedroom waterfront hotel will be managed by Providence Hospitality. All hotel employees will remain in their current positions, with Martin Nicholas continuing in his role as hotel manager.

Joe Bester, fund manager of the Fairtree Hospitality Real Estate Private Equity Fund said: "We have identified the UK, and specifically Cornwall as an investment destination for Fairtree. We believe The Old Quay House is the perfect property. The hotel has a great reputation, the building is in good shape and has been well-maintained. We are looking to build on what Jane and Roy Carson have achieved in offering a unique guest experience in Fowey."

Matthew Smith, director of Christie + Co's Exeter office, acted as agent for both Fairtree and sellers of the hotel Roy and Jane Carson.

Jane Carson said: "During the 13 years we have owned the hotel, we have enriched our lives by making new friends of guests, staff and the Fowey community. It has been a great place to live and work. Whilst Bath will now be our permanent base, it is our aim before retiring gracefully, to keep ourselves as busy as possible. I will continue to travel, and consult for hospitality consultants Godfrey Adamson, and Roy will further indulge his passion for cars. We wish Joe and his team much happiness and success as the Old Quay House moves into the next phase of its life."

www.theoldquayhouse.com

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