Richardson Hotels sells Cornwall's Falmouth hotel for £7.5m

The freehold of the Falmouth hotel in Cornwall has been sold to the Cornwall Hotel Collection off a guide price of £7.5m.

 

The Grade II-listed hotel, which was previously owned by Richardson Hotels, features 71 bedrooms, the 170-cover Castle restaurant and bar, and a spa.

 

The property is located above Castle Beach and is also in close proximity to Gyllyngvase Beach.

 

The Falmouth hotel is now owned by the Cornwall Hotel Collection, which also operates the Greenbank in Falmouth and the Alverton in Truro.

 

Ben Young, managing director of the Cornwall Hotel Collection, said: “This is more than just a business deal for us. The Cornwall Hotel Collection has many personal ties and anecdotal links to the Falmouth hotel.

 

"My family were on the board of directors for the original company, right up until the hotel was acquired by the Richardson Group in 2005, and the foundation stone was laid in 1865 by the brother of the first owner of our hotel in Truro.

 

“We believe that the Falmouth hotel should properly reflect the town’s vibrant spirit and rich heritage. Through careful restoration and strategic enhancements, we will create a hotel destination that celebrates Falmouth’s unique identity while offering outstanding hospitality.

 

"We are focused on preserving and improving the hotel for the benefit of the town, the employees, and all stakeholders involved.”

 

Harriet Fuller, associate director of hotel capital markets at Savills, who marketed the property, said Richardson Hotels had sold the property as part of a "long-term strategy",

 

Devon and Cornwall-based Richardson Hotels has also put its 47-bedroom Abbey Sands hotel in Torquay on the market for a guide price of £1.95m.

 

Richardson Hotels also operates Grand in Torquay, Falmouth Lodges, and the Royal Beacon in Exmouth.