1/8/2019 | Hotels

New lease of life for The Anchor Hotel

The Anchor Hotel, situated in the picturesque coastal village of Porlock Weir on the edge of Exmoor, has been sold through specialist property adviser, Christie & Co, to existing local operators.

Located in a stunning waterfront location in the busy tourist hotspot of Porlock Weir, the hotel comprises 14 en suite letting bedrooms, a public bar and dining area, guest lounge, cinema room and the Harbour View Restaurant, which accommodates for up to 34 covers.

Externally, there is a large decked area with its own bar and seating for up to 60 guests and a smaller patio area to the front of the hotel for 20 guests, offering prime views across the harbour. Part of the Porlock Manor Estate, the historic hotel is believed to have traded for over 200 years.

The hotel had been closed for around 12 months, having traded most recently under the name, Millers at the Anchor. The previous owners chose to sell the leasehold in order to pursue other business interests.

New owners, Nigel and Anne Way added The Anchor to their hotel portfolio, which includes The Luttrell Arms in Dunster, Royal Castle in Dartmouth and Royal Seven Stars in Totnes. Nigel and Anne comment, "We are very excited to embark on this this new venture and look forward to the end result after the extensive improvements to the hotel.

“Our focus, as always is on supporting the local businesses in this process, whilst upholding our green credentials.”

Stephen Champion, Associate Director at Christie & Co’s Exeter office handled the sale and comments, “Quality leasehold hotels like The Anchor are fairly rare in this region, so it is no surprise that The Anchor generated a great deal of interest when it was launched to the market. We received offers and business proposals from a wide variety of prospective buyers, however it was Nigel and Anne’s many years of experience in the sector and deep rooted ties to the region that stood out for the seller and landlord.

“We have no doubt that Nigel and Anne will return The Anchor to its former glory and look forward to seeing this landmark hotel trading again.”

The Anchor Hotel was sold off a guide price of £150,000 for the leasehold interest.