Coastal hotel sold in multi-million-pound deal

A well-known coastal hotel has changed hands after more than 50 years of family ownership in a multi-million-pound off-market deal.

The Cottage Hotel, overlooking Hope Cove near Salcombe in South Devon, has been acquired by Beach Barefoot Hospitality from the Ireland family, which has owned and operated the venue since 1973.

An exact purchase price has not been disclosed, although offers had previously been invited based on an £8 million guide price for the freehold property and operating business.

Included in the acquisition are a staff house and two luxury apartments.

William Ireland, a director of J.K. & J. Ireland (Cottage Hotel) Limited, said: “We are proud of The Cottage Hotel’s remarkable reputation, cultivated over five decades of our continuous ownership.

“We have made substantial investments in the property to ensure its future success and it now has huge potential for a future owner to add value. 

“We wish Beach Barefoot Hospitality every success.”

Beach Barefoot Hospitality, the UK trading arm of an international hotelier, now plans to reposition the 45-bedroom property as a luxury waterfront destination.

Set within around three acres overlooking Bigbury Bay, the hotel has direct beach access alongside spacious public areas, a seasonal bistro, ice cream parlour and art studio.

The property sits above Hope Cove harbour and beach, close to Kingsbridge and Salcombe, with its waterfront setting expected to play a central role in the new owner’s luxury repositioning plans.

A statement from Beach Barefoot Hospitality added: “We are excited to have purchased this well-known hotel on such a glorious coastal vantage point.

“We will now reposition the hotel as a waterfront luxury venue delivering exceptional service to guests seeking a unique, resort-style environment.”

Independent hotel broker Simon Stevens, of Simon Stevens Associates, and Jon Clyne, director at commercial property agency Charles Darrow, acted jointly for the Ireland family.

The sale follows the retirement of the family’s second generation after more than five decades at the helm.

Simon added: “This outstanding hotel has a rich history and an impressive, long-standing reputation, making it highly attractive to the purchaser.

“The hotel industry has enjoyed a buoyant summer season, encouraging investment into the sector with credible buyers seeking new opportunities.”

Jon added: “This is an extraordinary property, nestled in one of South Devon coast’s most breath-taking locations, with uninterrupted sea and coastal views. 

“Beach Barefoot Hospitality has very clear plans to capitalise on this superb setting for the luxury market, and we look forward to seeing that investment progress.”

Chris Field, head of hotels and hospitality at Sirius Finance, worked with the agents to arrange funding for Beach Barefoot Hospitality’s acquisition.

Legal advice was provided by Minesh Patel, of Keystone Law, for the buyer, while Matthew Cook, of Elevate Legal, represented the Ireland family.

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