Hotels

Administrators place two Shearings Hotels properties up for sale

S J Woodward and C P Dempster, joint administrators of Shearings Hotels Limited, has placed the Grand Hotel in Exmouth and Majestic Hotel in Bournemouth up for sale.

The Majestic Hotel in Bournemouth is being marketed for in excess of £1.7m and offers a “rare opportunity” to acquire a 68 bedroom hotel in the resort destination of Bournemouth on a long leasehold basis.

The hotel occupies a “prominent position” on Derby Road and is a short walk from Bournemouth beach. It provides a restaurant, bar and entertainment area, guest lounge, 15 staff bedrooms and a separate three bedroom house for the manager/owner. It also has 18 car parking spaces.

The freehold and part leasehold Grand Hotel in Exmouth is being marketed for in excess of £1.35m. The hotel located on Morton Crescent overlooking Exmouth seafront and beach It features 74 bedrooms with restaurant, bar and entertainment area as well as a large function suite which is currently unused.

James Greenslade, associate director in the hotels team at Savills in Exeter who is handling the sales, said: “These are extremely well located hotels in close proximity to the beach in popular holiday resort locations.

“The hotels are being sold with vacant possession, free of any branding or management commitments. We anticipate keen interest from investors and owner-operators.”

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