HotelsProperty

Four Richardson Group hotels up for sale following administration news

All four hotels will continue to trade on a business as usual basis until sold

Four hotels have been placed on the market following the administration of Richardson Hotels and Fowey Hotel Limited, part of the Richardson Group hotel chain.

Back in January it was announced that five of the hotels in the six-strong chain had been put into administration.

Sector specialist Colliers International has now been instructed by joint administrators Mark Boughey and Matthew Wild of RSM Restructuring Advisory LLP to sell the Metropole Hotel in Padstow; the Falmouth Hotel, Falmouth; the Fowey Hotel in Fowey; and the Grand Hotel, Torquay.

All hotels will continue to trade on a business as usual basis 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 58-room four-star Metropole in Padstow is located in an elevated position on the banks of the Camel Estuary,and is adjacent to Rick Stein’s flagship restaurant.

The Grade II-listed, three-star Falmouth Hotel is located overlooking Castle Beach. It has 71 en suite rooms. The Fowey Hotel is a four-star boutique hotel which has 37 en suite rooms.

The final property for sale is the four-star Grand Hotel located on Torquay seafront and has been the bay’s landmark hotel since it was built in Victorian times. It has 132 en suite letting rooms, and a main bar and brasserie, plus three additional function/banqueting rooms.

The two properties left in the Richardson portfolio are The Grosvenor, which has recently brought in Michelin-star chef John Burton-Race to help rebrand the property, and The Royal Beacon Hotel in Exmouth.

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Lewis Catchpole

Lewis is a multimedia journalist and a alumnus of the University of Sheffield. He is a keen reader, follower of all sports and an avid supporter of Manchester United, for better or for worse. If you have any news or feature ideas please do not hesitate to contact.

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