Thu, 28 Apr 2011 | BUSINESS SALE
Two hotels located in the popular seaside area of Torbay have been put onto the market following their administration at the start of last month.
The Torbay Court Hotel (pictured) on Steartfield Road, Paignton and The Bute Court Hotel, on Belgrave Road, Torquay, have a combined value of more than £1.6 million and are up for sale through the Exeter-based King Sturge leisure team.
Previously owned by Stuart Travis, the two hotels have been under the control of insolvency firm Begbies Traynor since March, but have both continued to trade as normal since then.
A Bebgies Traynor spokesman told This is South Devon, “This is a golden opportunity for hoteliers to grow their businesses through acquisition ahead of the main selling season.
“The hotels have a solid order book for many months and are perfectly based to take advantage of the region's tourism trade, making them an attractive proposition for potential buyers,” added the spokesman.
The Bute Court Hotel dates from the late 1800's and comprises 44 bedrooms across four floors, as well as an owners bedroom, bar, dining room, library and games room. The hotel has a freehold price tag of £850,000, which will include the trade inventory.
The Torbay Court Hotel boasts 58 en-suite bedrooms, a bar and function room and restaurant seating 100 people. Its price tag is £775,000, including goodwill and trade inventory.
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