10/8/2018 | Hotels

Substantial hotel on the Scarborough coast changes hands

Ryndle Court Hotel, situated close to the Scarborough coast in North Yorkshire, has been sold through specialist business property adviser, Christie & Co to an experienced local operator.

Comprising 23 en suite bedrooms, the hotel also features a restaurant, which caters for up to 40 covers, a bar, and a function room equipped for up to 55 guests. Externally, additional seating is set up to the front of the property, with gardens and on site parking provided to the side and rear, plus free on street parking is available directly outside the hotel, a rarity in the popular part of the town.

The detached, three storey property is in an ideal location for tourists to the area, close to the Scarborough coast and town centre, and a variety of amenities and local attractions, including Scarborough Castle, the North York Moors National Park and Sea Life Sanctuary. The hotel provides a scenic setting within a bustling touristic town, as it sits adjacent to Peasholm Park and Lake, a substantial green area.

The family run business had been owned by Mr & Mrs Shelton for 13 years before they decided to sell in order to pursue retirement and they comment, “We have spent many enjoyable and memorable times in the hotel with friends old and new. At the end of this era, we now look forward to spending more time with our family and pursuing other projects in the future. Special thanks to our agent, Sam Ashton and the Christie & Co team.”

Ryndle Court has been purchased by family business Yorkshire Hospitality Ltd, an experienced hotel operating company in the Scarborough area, which also owns Scarborough Travel & Holiday Lodge. Yorkshire Hospitality Ltd plan to reinvest and modernise the property to improve its trading potential and build on the private functions opportunities it presents. They comment, “We are excited for the development and to introduce new bedrooms to the property. This is a great new addition to our portfolio.”

Sam Ashton, Business Agent at Christie & Co comments, “During its time on the market, the property experienced a mixture of interest from developers, conversion buyers and hoteliers, before being purchased by Yorkshire Hospitality Ltd, a local operator which can use its experience and knowledge within the area to build on the success of the business generated by Mr & Mrs Shelton. We wish both of them the best of luck and a happy retirement!”

The freehold interest of the Ryndle Court Hotel was sold off an asking price of £725,000.