Hotel Virginia, a 24-bed Hotel situated on Falkland Road, Torquay has recently been sold to a local, multi-site operator.
Owned and operated by the Dockrey family for over 40 years, who after many years at the helm, decided to instructed Charles Darrow to market their Hotel with the desire to pursue retirement, has been sold off an asking price of £550,000.
The centrally located hotel within the heart of Torbay’s main leisure quarter, was snapped up by local operators, Powis Hotels Ltd, who own and operate a number of Hotels including Lincombe Hall Hotel, The Babbacombe Hotel and Riviera Hotel, all situated in Torquay. Powis Hotels Ltd were quick to agree terms and swiftly progressed to a completion, some 7 weeks after instructing solicitors.
The purchase marks the fourth leisure facility owned and operated by director Brett Powis, with the completion of Hotel Virginia increasing the strength of their portfolio in Torbay, bring the number of beds to over 330, with appetite for many more!
James Sanders, Associate Director of Charles Darrow who looked after the sale comments “Hotel Virginia is a unique Hotel situated just off Belgrave Road, a short walk to the sea front, within a plot of just over .3 acres.”
“The size and location of the site, along with future potential, was the determining factor for the purchasers, who are looking forward to investing into the site ready for a busy 2022 season!”
“The sale marks another substantial leisure facility which has been sold by Charles Darrow within Torbay and tops off a remarkably busy year! We continue to receive a great deal of appetite across the board, however particular interest for 20 Bed + leisure facilities within Torbay, with plenty of active buyers at the ready!”
“We wish Tony & Christine all the best for their retirement, and are looking forward to seeing the refurb once completed by Brett and his team”.
Special thanks to Christian Robertson of Kitson Solicitors who acted for the purchaser and was key to getting the sale across the line in just over 7 weeks following instructions- another cracking effort.