Treloyhan Manor sold to Northhold Group for more than £3m

Treloyhan Manor in Carbis Bay has been sold out of administration to investment company Northhold Group for more than £3m – significantly above the asking price of £1.75m.

The 39-bedroom hotel occupies a plot of around 4.11 acres with views across St Ives Bay towards Gwithian Beach. Administrators were appointed to former owner Methodist Guild Holidays, trading as Christian Guild, after the company suffered sustained cashflow difficulties since the start of the pandemic.

James Greenslade, director in the hotel capital markets team at Savills, said: "We received significant interest in Treloyhan Manor hotel and following a competitive bidding process achieved a sale price significantly higher than the guide price. We're continuing to see strong demand for assets in holiday destinations."

Methodist Guild Holidays' portfolio also included Sidholme hotel near Exeter; Willersley Castle in Matlock, Derbyshire; and Hothorpe Hall near Theddingworth, Leicestershire, with administrators seeking a sale of all properties.

Sidholme hotel was sold to Arsh Holdings earlier this year and the new owner plans to refurbish the Grade II-listed hotel. The business and assets of Hothorpe Hall were sold for £3.55m to the India-based KCT Group with all 36 jobs saved.