The Torquay Palace Limited, represented by international real estate advisor Savills, has brought to market The Palace Hotel in Torquay at a guide price in excess of £10 million.
The 141-bedroom property, which is Torquay’s largest 4-star hotel, sits within 17.6 acres of grounds and offers extensive conference and event space catering for up to 1,000 delegates. It also features a restaurant, three lounges and indoor and outdoor leisure facilities including tennis and squash courts, swimming pools, a fitness suite and a nine hole golf course.
Located on Babbacombe Road, The Palace Hotel offers views over Anstey’s Cove and Lyme Bay. Planning permission for 137 residential apartments, further hotel rooms and a new indoor swimming pool and spa has already been granted. A three bedroom cottage located in the grounds is also included in the sale.
Martin Rogers, hotels director at Savills, comments: “This is a rare opportunity to acquire one of the South West’s largest and most established hotels, which will offer its new owner the flexibility to operate independently or under a brand. The scope for further development also provides excellent potential for enhancing long term income.”
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