Torquay hotel featured on ‘Four in a Bed’ for sale
The Richwood Hotel, situated in the popular tourist resort town of Torquay on the South Devon coast, has been brought to the market through specialist business property adviser, Christie & Co.
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Occupying a substantial Victorian villa, believed to date back to the 1880s, the hotel has been under the same ownership since 2011 and during this time has undergone extensive refurbishment, including the restoration of many of the original features and the installation of solar roof panels. The hotel comprises 14 en suite letting bedrooms, bar, restaurant and guest lounge, plus a two bedroom owner’s apartment. Externally, the site features a heated outdoor swimming pool and spa, spacious and well maintained sun terrace, and private guest parking.
The Richwood has built up a good reputation and is well known in the area, having featured on Channel Four’s ‘Four in a Bed’ and a previous winner of the English Riviera & South Devon Bronze Tourism Award for Excellence in Customer Service. The food and beverage aspect of the business is also thriving, with the Richwood currently holding 5 Bubbles from TripAdvisor for its food offering.
Ideally situated, Torquay sits within the Torbay area, which has earned the reputation as The English Riviera due to its miles of outstanding South Devon coastline consisting of seaside resorts, rocky coves, picturesque villages and warm weather. The Richwood is the perfect base for tourists drawn to the area, a short walking distance to the seafront, marina and town centre.
Current owner, Veronica Pickles, has owned and operated The Richwood for seven years and is now looking to move on in order to retire.
Stephen Champion, Senior Business Agent based in Christie & Co’s Exeter office who is handling the sale comments, “The Richwood is a great example of a traditional Torbay hotel. Our clients have traded the business to suit their lifestyle, closing the business for three to four months of the year, meaning that there is plenty of scope for a new owner to increase turnover by trading all year round and opening the bar and restaurant to non-residents.
“Hotels in this part of the South West, which is a firm favourite for holidaymakers in the UK, are exceptionally attractive investments and we expect a lot of interest in The Richwood due to its high quality and breadth of amenities including an outdoor heated pool and spa.”
The Richwood is on the market at a guide price of £580,000 for the freehold interest.