11/27/2017 | Hotels

New owners for North Devon boutique hotel

The Seawood Hotel in the Exmoor town of Lynton on the North Devon coast has been sold through specialist business property adviser, Christie & Co.

The elegant Grade II listed Victorian property sits on the town’s North Walk which stretches across the breathtaking cliffs overlooking Lynmouth Bay.

The three storey hotel boasts eight letting bedrooms, each individually decorated, featuring stylish furnishings and modern en suite bathroom suites. The hotel includes a restaurant, bar, guest lounge and terrace where guests can relax and enjoy the uninterrupted sea views.

The hotel has been purchased by experienced business owners Martyn and Gillian Adams, who plan to further invest in the property and continue to build on the excellent reputation built by the previous owners.

Stephen Champion, Senior Business Agent at Christie & Co’s Exeter office comments, “The hotel market in the South West region continues to stay strong with levels of interest in hotels remaining high from well funded local and international buyers. We congratulate Martyn and Gillian on their purchase and look forward to seeing further announcements in the coming months on how they plan on taking the business forward."

Specialist commercial funding was required to support the purchase and Associate Director, Gary Boyce from Christie Finance helped secure the best funding to acquire The Seawood Hotel. He said of the deal, "I was delighted to help Martyn and Gillian add this hotel to their growing family business portfolio. With their previous experience in the hospitality sector and hands on approach, this business will continue to grow in popularity."

The Seawood Hotel was sold off a guide price of £795,000.