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A portfolio of 14 properties in Scarborough and Bridlington, which includes a series of hotels and guesthouses, have been brought to market for an undisclosed amount, after the owner entered administration earlier this year in August.
Administrators at Grant Thornton were appointed over 11 properties in Bridlington and three in Scarborough. Several of the assets are sizable coastal hotels or established guesthouses, many requiring refurbishment but offering scope for redevelopment or reconfiguration.
In Scarborough, the sites include Hotel Columbus on Columbus Ravine, a large detached former guesthouse, and the former St Helens Care Home in the south bay area, which also holds potential for conversion. The former Tennyson Arms public house on Dean Road has been partly converted to seven self-contained apartments.
In Bridlington, the hotel-led assets include the Spinnaker Hotel on Pembroke Terrace, Mont Millais on Trinity Road, the Brentwood Hotel on Princess Street and Park View Hotel on Tennyson Avenue. Former guesthouses such as Vernon Villa, Acomb House, Blantyre Guest House and Ashford House are also included, alongside Victoria House, historically a well-regarded guesthouse now awaiting refurbishment.
Alex Sweetman, a director in the Leeds office of Watling Real Estate, who is handling the sale, said: “The portfolio provides a diverse mix of residential-focused properties, all with potential, that will appeal to landlords and developers alike.
“Of particular note is the positive 4.5% annual house price growth currently reported within the Yorkshire region which is attracting particular focus from developers and investors seeking such opportunities.”
