Yorkshire Coast's only 4 star hotel sold through Christie & Co
Specialist business property adviser, Christie & Co has completed the sale of the Crown Spa Hotel located within the heart of Scarborough.
The Crown Spa Hotel, which is the only 4-star hotel along the Yorkshire coast, commands a magnificent cliff top location above the beautiful seaside town of Scarborough, offering breath-taking views of both the sea and coastline.
Built in 1845, the hotel retains many of its original architectural and period features despite extensive renovations and development over the years. The construction of a roof-top extension was completed in 2009 and plans to develop a further 77 bedrooms had already been put in place by the previous owners prior to the sale, which will inevitably provide future opportunity for the new owners.
The hotel currently consists of 115 en suite rooms, a fine dining restaurant and breakfast dining room, a number of conference and banqueting facilities and a state-of-the-art health club with gym, pool and spa. It is within close proximity of neighbouring towns Whitby, Robin Hood’s Bay and the North York Moors National Park and close by to the cities of Leeds, York and Harrogate.
Previous owners the Frank family instructed Christie & Co to sell the property, after 17 years of ownership. Jeremy Jones, Head of Brokerage - Hotels at Christie & Co comments on the sale, “Myself and my colleague Ryan Lynn handled the sale for the family where interest came from a variety of UK and overseas buyers. The successful purchaser being Compass Hospitality who now operate 12 hotels in the UK on behalf of a growing number of Far East purchasers.”
The Crown Spa Hotel was sold off an asking price of £15.5 million.