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The Park Hotel in Redcar, which is located along the Yorkshire coast, has been brought to the open market at an asking price of £950k.
The seafront hotel, which is located close to the town centre and offers panoramic coastal views, has 32 bedrooms, a large bar and restaurant, as well as on-site parking.
The property has been owned for 20 years by Lee and Claire Dexter, who have decided to sell to pursue “other ventures”.
Lee Dexter said: “It has been a wonderful journey since we purchased the hotel back in 2003 and since then we have invested heavily in the building and the business. In fact, 2022 was our best ever year, both in terms of turnover and profits and so we feel we are passing on a great business with a good team and strong client base.”
Mark Worley, director in Christie and Co’s hotel team, added: “This is an excellent opportunity for an experienced hotel operator, or indeed a first time buyer new to the hospitality trade, to acquire a very well run and profitable hotel, with little or no investment required.
“Lee and Claire’s investment and hard work has paved the way for a new owner to take over a good and settled team and to enjoy the rewards, hopefully for many years to come.”
