United Kingdom: Whalesborough Holiday Cottages and Spa, on the North Cornwall coast near Bude, has been sold to a private buyer for an undisclosed guide price, following the completion of a confidential marketing exercise.
The transaction was facilitated by real estate services company Savills.
Spread across 411 acres, Whalesborough Holiday Cottages and Spa includes a combination of residential properties, a five-star commercial vacation, significant development space to increase the number of units on site, as well as a restaurant and bar, W Leisure Club and more.
The company was owned by the Proudfoot family [currently James, Fraser, Sharron and other family members] Since they first ventured into the holiday in 1981, when they converted an old barn into a holiday cottage and ran it alongside a dairy farm. In 2004, the family sold their share of the cows and milk and built 21 vacation cottages and a spa facility in the following years.
“We are delighted to complete the sale of this high-quality leisure business following a competitive but discreet process that has attracted interest from a group of investors,” said James Greenslade, team manager for Hotel Capital Markets at Savills.
Chris Sweeney, director of the Leisure and Related Commercial Property team at Savills, said: “Demand remains for well-located leisure businesses as investors have seen their resilience through previous volatility. With more people drawn into accommodation, the opportunity to attract this growing client base is promising. incredibly attractive and so we expect demand to remain strong in this sector.”