South-west hotels up for sale following parent company administration

George Sell By George Sell
13 February 2018 | Updated 13 February 2018

UK: Four hotels in Devon and Cornwall have been put on the market after their parent company was put in to administration in January.

The properties have gone on the market following the administration of Richardson Hotels Limited and Fowey Hotel Limited. They are the Metropole Hotel in Padstow, the Falmouth Hotel in Falmouth, the Fowey Hotel in Fowey, and the Grand Hotel in Torquay.

Colliers International has been instructed by joint administrators Mark Boughey and Matthew Wild of RSM Restructuring Advisory LLP to sell the properties, which will continue to trade until a buyer is found.

Ed Jefferson from the South West Hotels team at Colliers International said: "Richardson Hotels Limited and Fowey Hotel Limited have gone into administration, creating a unique opportunity for hotel operators to acquire some of the best-known hotels on the south-west peninsula. All have great features that will appeal to a wide range of buyers. Interested parties are invited to make an offer either individually, in clusters or as a group. Our clients will decide what offer or combination of offers to accept in order to satisfy the needs of the administration."

The four-star Metropole in Padstow has 58 rooms, a brasserie, bar and restaurant, and is situated opposite a Rick Stein' restaurant. The 71-room Falmouth Hotel overlooks Castle Beach and is close to Pendennis Castle. It is a Grade-II listed building. The Fowey Hotel has 37 rooms, a bar and restaurant, and the Grand Hotel, on Torquay seafront, has 132 bedrooms, and a bar and brasserie, plus three additional function and banqueting rooms.

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