20 March 2020
Specialist hotel agent, Goadsby Commercial, report the sales of three businesses on the popular West Cliff of Bournemouth.
Notably, the 51 bedroom Bourne Hall Hotel, prominently positioned above the Bournemouth International Centre, has been sold on behalf of an overseas client for whom Goadsby also acted at the time of their purchase. The Topaz has been purchased to be remodelled into contemporary holiday apartments by a local development company, whilst The Croydon was acquired as an executive let by a London based investor.
Ian Palmer, Divisional Director, commented, “Over time the hotel stock in Bournemouth has become increasingly focused into the Town Centre, for which each of these properties is ideally placed. This is very much reflected in the sales we are continuing to transact. Even though a cloud of uncertainty currently hangs heavy over the industry, confidence in the short to medium term remains strong and it is, in fact, a shortage of available property that is the bigger issue than a shortage of willing purchasers”.
The three sales were transacted for a combined figure approaching £3 million. For further information please contact Ian Palmer on 01202 550000 or by email: ian.palmer@goadsby.com