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The Jamaica Inn in Cornwall has been sold to The Coaching Inn Group for £8m.
The 18th Century 36-bedroom coaching inn property has received “substantial investment” and evolved into a private leisure business with multiple income streams and generated circa £4m revenue in its most recent financial year.
Jamaica Inn was originally constructed around 1750, and consists of a restaurant, bar, farm shop and gift shop, as well as two museums dedicated to the history of smuggling and Daphne du Maurier, a previous owner and thriller author.
Matthew Smith, partner in the hotel agency team at Knight Frank who handles the sale, said: “Having brokered the deal to Allen when he purchased Jamaica Inn eight years ago it is quite remarkable what has been achieved under his ownership. Such a transformation from a traditional 17-bedroom coaching inn to a highly profitable thriving 36-bedroom multifaceted business, whilst carefully preserving the 18th century parts of the Inn.
“The business also benefits from future value-add opportunities to include planning permission to construct a substantial 200+ single story circular function suite. Delighted to have introduced this opportunity to The Coaching Inn Group who will no doubt continue the growth of Jamaica Inn.”
