Southsea’s largest collection of privately-owned hotels and cottages on market
Specialist business property adviser, Christie & Co, is delighted to bring to market The Mercer Collection, a portfolio of seven high-end boutique hotels and self-catering cottages located across the picturesque coastal town of Southsea, Portsmouth.
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Established in 2004 by Daniel and Vicki Sutton, a Hampshire couple with a passion for great British hospitality, the portfolio has grown to become renowned as the largest collection of privately-owned hotels in Southsea. A total of 53 stylish ensuite guest rooms are set across the seven well-positioned properties – all within walking distance of Eastney Beach, South Parade Pier and the Victorian seafront.
Significant investment has been made to all of the assets since 2018, including the conversion of three of the existing hotels into self-catering cottages, in response to the COVID-19 pandemic. This has proven hugely successful, with the turnover for these properties outperforming levels achieved when they were operated as hotels.
The full portfolio comprises four hotels: Florence House, Florence Gardens, Florence Suites and Somerset House located adjacent to each other with a shared breakfast room/restaurant, reception and bar, along with the three newly created luxury self-catering cottages: The Clarence, Stattons and Number Four.
The interiors have been designed to the finest standard by Vicki Sutton and modelled on a relaxed yet elegant quintessential English country home. Through a clever blend of contemporary furniture and striking artwork, each hotel is beautifully presented with its own distinct character, in-keeping with its history and charm, whilst offering home comforts and modern luxuries.
The sale offers a purchaser an opportunity to acquire a well-established portfolio of boutique hotels and self-catering cottages in the thriving seaside resort town of Southsea, which is hugely popular with British holidaymakers. Key nearby attractions include Spinnaker Tower, the Mary Rose and National Royal Navy museums, the historic Portsmouth dockyard, Southsea Castle, Southsea Pier and Gunwharf Quays, which offers an array of bars, restaurants and shopping outlets. The Victorious Festival, an annual family music festival also draws large numbers of visitors to the area each year.
Ed Bellfield, Regional Hospitality Director in Christie & Co South team is handling the sale and comments, “This is a unique opportunity to acquire one of the finest collections of small boutique hotels and luxury self-catering accommodation in the south of England. The portfolio will appeal to both property investors and hotel operators looking to capitalise on the surge in ‘staycation’ business expected over the summer season within this sought-after coastal location. Historically, the business has generated significant profits for the owner, and the positive recent trading results since the hospitality sector reopened on 17th May indicates this is set to continue.
“There is enormous potential in the business going forward, which is best demonstrated by the current performance of the business, particularly during the summer months when actual takings can double trade. The portfolio is available for sale as a whole although, consideration will be given to cluster or multiple asset sales.”
The Mercer Collection is on the market on a freehold basis and invites offers in excess of £10,500,000.
For further information on this press release, contact:
Bronte Hughes, Corporate Communications Executive
P: +44 (0) 7721 420 656 or E: bronte.hughes@christie.com
Contact the agent:
Ed Bellfield, Regional Director – Hospitality
P: +44 (0) 7713 061171 or E: ed.bellfield@christie.com