Christie & Co brokers the sale of Swansea hotel to local investor
Specialist business property adviser, Christie & Co has brokered the sale of Gower Hotel, located in the heart of Bishopston Valley in Swansea.
The currently closed hotel which sits within grounds of approximately two acres had previously been operated as a family run business by Mr & Mrs Waddington, who extensively refurbished the property over the years to offer a stylish boutique hotel, restaurant and wedding venue.
The business has now been acquired by the Ramsey-Williams family who have a number of other business interests in the region including a number of successful hotels, restaurants and bars.
Corrina Jones, Business Agent in Christie & Co’s Cardiff office comments, “The new owners will be able to take advantage of the exceptional quality of the property to develop a business with a similar target market. This is an excellent opportunity and we wish the new owners all the best with their future plans.
“Throughout 2016, Christie & Co advised on, valued or sold in excess of 700 hotels with a combined value of £2.5bn and the regional market for single asset transactions is predicted to remain healthy during 2017, as evidenced by the speed of this transaction and growth in the domestic holiday market.
“We anticipate a continued rise in ‘staycations’ driven by the impact of less favourable exchange rates for UK residents making overseas holidays more costly in 2017. This will hopefully translate into increased activity and sales within the sector as buyers view this positively. Viewings and offers on available opportunities are up considerably on last year and demand for good quality assets continues to outstrip supply.”