Property

St Michaels Falmouth hotel completes first phase of £50m refurb

The St Michaels Falmouth hotel has reopened its doors following a multi-million pound refurbishment.

Nigel Carpenter, owner of the property secured a £50m investment from CBRE Global Investors, BH Group and Acorn Property Group to turn the hotel from a Cornish boutique hotel into an international-style resort.

This is the first and largest investment of its kind in Cornwall. Some £20m of the investment went into the hotel and the other £30m is being invested into a residential development, called ‘The Liner’, which breaks ground in autumn 2018 and will offer 53 self-catering sea-facing apartments.

A statement made by the group read: “The transformation of St Michaels Falmouth has also boosted the local economy, employing over 200 local artisans and craftsman in its creation as well as creating 50 full time jobs and the resort expects to recruit another 40 members of staff over the next five years. All this is set against a back-drop in a boom in domestic tourism and the south west being named the most popular holiday destination in the UK.”

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