Tue, 06 Jul 2010 | BUSINESS SALE
The pier in Southwold, Suffolk, which dates back to 1900, is on the market for £6 million.
The British seaside institution is to be sold with planning permission for a five-storey, 30-bedroom hotel.
Following extensive rebuilding and refurbishment in 1999, when it was extended to 190 metres, the pier went on to scoop numerous national tourism awards.
It was named Best Seaside Attraction in 2007, Best Tourism Experience 2008 in the East of England and Best Large Attraction 2009.
As well as boasting several restaurants, Southwold Pier is also a regular host to Britain's only surviving sea-going steam passenger ship, the PS Waverley paddle steamer.
Stephen Bournes, who has owned the pier since 2005, said, “We have been striving for three years to acquire planning permission for the new development to provide a new 'art deco' building of merit.
“I feel confident that the foundation stones are well set for the pier to continue in a positive way forward and we will leave the pier with great sadness,” he added.
The luxury hotel was originally due to cost between £2 million and £3 million but, with the project now estimated at £5 million, it is no longer financially viable for the couple, hence the sale.
Mr Bournes said they could not cover the necessary 40 per cent of a loan, plus conditions, and they could not foresee that the banking situation would change.
This is a unique opportunity to acquire valuable intellectual property assets from a well-established wholesaler with many years of experience in the discount food and non-food sector in the Midlands.
This is an opportunity to acquire a long-established specialist bakery business, supplying major UK supermarkets and boasting a fully equipped production facility with a skilled workforce.
Discover the rare chance to acquire a specialist UK supplier of marine engines and generators, noted for their leadership in the used marine engine market and hard-to-find parts.
17
|
Sep
|
Construction materials firm acquires civil engineering contractor | BUSINESS SALE
Fox Brothers Holdings, a private equity-backed construction ...
17
|
Sep
|
Assets and IP of non-HFSS bakery brand set to be sold in pre-pack deal | ADMINISTRATION
Urban Legend, a healthier sweet bakery brand, is poised to e...
17
|
Sep
|
Regional care home operator expands with double acquisition | BUSINESS SALE
Regional care home operator Maven Healthcare has expanded wi...
17
|
Sep
|
West Midlands manufacturer to target M&A under new CEO | BUSINESS NEWS
PP Control & Automation (PP C&A), a West Midlands-based manu...
17
|
Sep
|
Regional care home operator expands with double acquisition | BUSINESS SALE
Regional care home operator Maven Healthcare has expanded wi...
17
|
Sep
|
Assets and IP of non-HFSS bakery brand set to be sold in pre-pack deal | ADMINISTRATION
Urban Legend, a healthier sweet bakery brand, is poised to e...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.