Fragrance Group acquires third Devon hotel

Martha Elwell Martha Elwell Uploaded 12 December 2017

LinkedIn

UK: The Singapore-based Fragrance Group has bought a property in Paignton, Devon

Singapore-based property and investment company Fragrance Group has acquired the 46-bedroom Park hotel in Paignton, Devon.

The Park hotel is the third property that the company has bought in Devon this year. The other properties were the 141-bedroom Palace and 50-bedroom Corbyn Head hotels, both in Torquay.

Fragrance was founded by Koh Wee Meng. The company has acquired a string of English provincial properties in the last year. In February it bought the four-AA-star, 180-bedroom Imperial hotel in Blackpool, for £12.8m. It has since acquire the Townhouse hotel in Manchester for £12.5m, the Crown hotel in Harrogate and the Lyndene hotel in Blackpool.

Park hotel is located on Paignton seafront. The property features a lounge, conservatory, restaurant and private dining rooms.

Martin Rogers, head of UK hotel transactions at Savills, said the park hotel is situated in "a prime spot." He added that the sale highlights the strong investment currently being experienced by Savills in the UK regional market driven by "increasing numbers of international visitors exploring the UK, coupled with strong domestic tourism".

LinkedIn

Be in the know.

Subscribe to our newsletter »
Subscribe

Thank you sponsors