Somerset hotel to become YMCA’s newest accommodation and support hub following sale
Specialist business property advisor, Christie & Co has completed on the sale of Gascony Hotel, a family-run 20 bedroom hotel located in Minehead, on the Somerset coast, to YMCA Dulverton Group.
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Set on a leafy residential street within the popular coastal town, this traditional Victorian style hotel is just three minutes’ walk from the seafront and a four-minute walk from West Somerset Railway heritage line.
The previous owners, Derek and Angela Tomlinson operated the hotel for almost 23 years and invested significantly in updates and refurbishments during this time.
They comment, “While being sad at leaving the hotel after all these years we are delighted that the building will be repurposed for such a worthwhile cause we wish YMCA Dulverton group every success in their venture.”
The new owners, YMCA Dulverton Group, are a community charity which support children, young people and families across Somerset and Devon and were advised by Philip Harcourt of Development Solutions on the sale. The hotel will be transformed into the group’s newest accommodation and support hub, providing accommodation to young homeless individuals and families in the local area. Similar centres currently operated by YMCA include the Beach Hotel in Minehead.
Speaking on behalf of the group, Head of Development Peter Stephenson comments, “The hotel came onto the market at just the right time, and the whole team have been amazing in bringing it forward to completion. Being such a great building and so cared for, within two months we will be able to provide great accommodation and support for those people who require it.”
Stephen Champion, Director in Christie & Co’s Hospitality team brokered the sale and comments, “We are delighted to have brokered this transaction which will enable our clients Derek and Angela to retire from the business. Although it is always disappointing to see a hotel cease trading, we are delighted to see that the building will be going to good use by providing much need accommodation for vulnerable young people and families within area.”
The Gascony Hotel was sold off a guide price of £720,000 on a freehold basis.
For further information on this press release, contact:
Bronte Hughes, Corporate Communications Executive
P: 020 7227 0794 or E: bronte.hughes@christie.com
Contact the agent:
Stephen Champion, Director – Hospitality
P: +44 (0) 7736 619 536
E: Stephen.champion@christie.com