Register to get 3 free articles
Register to unlock the article and receive our free newsletter. Join 26,000 other hotel leaders and stay in the know.
Want unlimited access? View Plans
Already have an account? Sign in
The Yorkshire coastline has seen a boom in the number of hospitality businesses on the market, according to Christie & Co.
The property advisor said it has seen a 133% increase in hospitality businesses on the market in the first half of 2016 when compared with the whole of 2015.
This was down to the north eastern coastline receiving an “incredible” amount of investment in the past 12 to 24 months, said Christie & Co.
It cited areas such as Bridlington for its £25m leisure centre and plans for a £8m Premier Inn, and Scarborough, which is due to receive a £1.7bn potash mine creating 1000 jobs, a £14m water park, a multiplex cinema and a £45m sports village and football stadium complex.
Christie & Co said this level of investment will continue to fuel the tourist economy, and pointed to figures from VisitEngland which revealed Scarborough is now the second most visited destination for holiday trips in the UK outside of London.
The commercial property market has mirrored this increase in activity following double-digit growth in the average sale price of pubs, restaurants and hotels in Yorkshire and across the rest of the UK last year.
Oliver Brown, business agent at Christie & Co’s Leeds office, said: “The continued investment in Yorkshire’s coastal towns, and increasing strength of the region’s tourist industry, makes the region a highly desirable place to own a business.
“Industrial, leisure and infrastructure development is experiencing a flurry of activity, suggesting many long term benefits of a commercial presence in this area.”
