Acting on behalf of vendors Graham and Annabelle Sylvester, specialist property adviser Christie + Co has sold The Port Gaverne Hotel to St Austell Brewery.
The property occupies a picturesque location only yards from the beach in the secluded cove of Port Gaverne, a short distance east of the neighbouring fishing village of Port Isaac, famed as the location for the filming of the popular television series, Doc Martin.
Port Gaverne Hotel is a long established business with trade areas including main bar, dining room/restaurant, first floor lounge and 15 en suite letting bedrooms.
The business and property has been acquired by St Austell Brewery for an undisclosed sum off a guide price of just under £1.5 million. It will operate the business with a new lessee – David Barnard – who currently also operates the Molesworth Arms in Wadebridge on behalf of the brewery.
Simon Harvey, Director of Christie + Co in Exeter says: “We are delighted to have assisted Graham and Annabelle in the sale and likewise, continue our association with St Austell Brewery and its ongoing growth plans. We wish David Barnard all the very best with the continued operation of the hotel and with his future plans.”
The sale of The Port Gaverne Hotel follows that of the St Mawes Hotel (pictured below) last month which was sold to local hoteliers, David and Karen Richards who have recently completed an extensive refurbishment of their other hotel, the Idle Rocks, again in St Mawes.
The St Mawes Hotel occupied a prominent position in the heart of the village with excellent views and included ground floor bar, first floor restaurant and 14 letting rooms and the freehold interest was sold for an undisclosed sum off a guide price of £2m.
Harvey, who also handled this sale, adds: “These sales show that well positioned businesses on the Cornish coast will attract strong interest from a wide variety of potential purchasers.”
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