International real estate advisor Savills has completed the sale of the Royal York & Faulkner Hotel in Sidmouth, on behalf of the Hook family to Cashmere Hotels off a guide price of £4.25 million.
The Royal York & Faulkner is a Grade II listed Regency hotel in a prime position on Sidmouth’s Esplanade. Benefiting from exceptional footfall from both the seafront and the town centre, the property has been owned by the same family for three generations.
Located in the Regency resort of Sidmouth, East Devon, the hotel sits within one of the region’s most picturesque coastal settings. The area is renowned for its dramatic coastline, rolling countryside and year round appeal as a holiday destination. Access is excellent, with Junction 30 of the M5 approximately 12 miles to the west, and the A303, via the A30, around 10 miles to the north.
A spokesperson for the Hook family, says, “We are pleased to confirm that the sale of the landmark Royal York & Faulkner Hotel completed last week. Having owned and personally run the hotel since 1939 it is certainly the end of an era. We have welcomed many regular guests over the years and been blessed with a team of loyal and trusted staff, many of whom have been with us for decades. The new owners, Cashmere Hotels will continue to operate the hotel along with our valued staff. The small independent group have several further hotels in the South West and we wish them every success. The family will remain in their beloved Sidmouth and look forward to enjoying their retirement.”
James Greenslade, Director, Savills Hotel Capital Markets, adds, “We are very pleased to have completed the sale of this exceptional hotel for our clients. Its incredible location and strong trading history make it a standout asset within the region. We look forward to seeing the evolution of the business under new ownership”.
