Savills appointed by administrators of Shearings Hotels Limited to market two hotel assets
30 July 2020Savills has been appointed by S J Woodward and C P Dempster, joint administrators of Shearings Hotels Limited, on the sale of the Grand Hotel in Exmouth and Majestic Hotel in Bournemouth.
The 68 bedroom Majestic Hotel in Bournemouth is being marketed for in excess of £1.7 million. The hotel a restaurant, bar and entertainment area, guest lounge, 15 staff bedrooms and a separate three bedroom house for the manager/owner. It also has 18 car parking spaces.
The freehold and part leasehold Grand Hotel in Exmouth is being marketed for in excess of £1.35 million. It provides 74 bedrooms with restaurant, bar and entertainment area as well as a large function suite which is currently unused.
James Greenslade, associate director in the hotels team at Savills in Exeter, says: “These are extremely well located hotels in close proximity to the beach in popular holiday resort locations. The hotels are being sold with vacant possession, free of any branding or management commitments. We anticipate keen interest from investors and owner-operators.”