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Lincombe Hall Hotel and Spa in Torquay has been sold to Canadian businessman Khalil Viraney from Powis Hotels for £3.25m.
The 44-bedroom, four-star property includes 2.58 acres of gardens and two self-catering apartments.
A primary feature of the business is its 5-bubble rated spa, which opened in 2019 and includes a hydrotherapy pool, indoor swimming pool, and ice room.
Recent capital expenditure has also seen the refurbishment of the hotel’s brasserie, breakfast room, and lounge.
Legal advice for Powis Hotels was provided by Elevate Legal. The hotel currently operates as one of two luxury-rated destination spas in the Devon region.
The new ownership is expected to maintain current operations while seeking further growth within the wellness sector.
The sale was managed by the hotel capital markets team at Savills, who noted that demand for high-end regional assets remains “steady” despite broader economic fluctuations in the leisure industry.
James Greenslade, director of Savills hotel capital markets, said: “This transaction highlights the continued demand for high quality regional assets, particularly those that appeal to the growing demand amongst consumers for high quality spa and wellness facilities. Lincombe Hall is positioned well for further growth under new ownership.”
Dominic Hollingsworth, partner at Elevate Legal, added: “I, together with Krista Searle who heads up the commercial property team at Elevate, advised Powis Hotels Limited on the successful sale of Lincombe Hall Hotel & Spa. The transaction was completed efficiently and in a spirit of cooperation between all parties and we are proud to have played a role in this milestone.”
