New owners are being sought for a number of top West resort attractions following the death of leisure chain boss Martyn Harrison in April last year.
Trustees of Martyn Leisure have decided to put the Sand Bay Leisure Resort near Weston-super-Mare on the market along with three other hotels, two in Weymouth and another at Sherborne. All the properties are being marketed by sector specialists Colliers International.
Hotels Director Simon Wells said the trustees’ decision had opened up opportunities for new owners to take the businesses forward.
He said: “Sand Bay, once a Pontins leisure camp, is now a resort which focuses on top quality entertainment and has been providing three and four day breaks for the last 12 years or so with the operators Martyn Leisure at the helm.
“The resort was packed over the Bank Holiday weekend as guests let their hair down at a 60s music spectacular with The Searchers, Vanity Fare and The Tremeloes all playing.”
“Not only does it offers a great opportunity for a new buyer to benefit from the tremendous profit generated by 50,000 plus guests per year, but it has a long term future with a significant development plan supported by North Somerset County Council.”
The iconic beachfront attraction occupies 17 acres and comprises 315 chalet style rooms and a ballroom for 550 alongside what it possibly the largest restaurant in North Somerset. Sand Bay itself is a charming inlet with a wide sandy beach and is just north of Weston-super-Mare, one of the most iconic British seaside resorts.
The two Weymouth hotels, which stand next to one another, boast no less than 163 rooms creating a combined turnover of £3,242,525 net of VAT. The Prince Regent & Russell Hotels occupy a superb position with far reaching views across Weymouth Bay.
Simon Wells added: “This is a cracking opportunity for the right type of operator to take on a very successful business which also includes the landmark Hotel Prince Regent and Russell Hotel on Weymouth’s Esplanade.”
The Prince Regent is a grade II-listed town house hotel with an elegant ballroom, a rich history and an enviable reputation. The Russell is a very busy two-star hotel. “Given the crowds we saw on the Bank Holiday they play a major role in Weymouth’s tourist offering. The hotels are run under management so they are ideal to add into a portfolio and for an investor to receive the strong underlying profits.”
Simon Wells concluded: “Prices are hardening but with many hotels re-priced since the peak of the market there are some great value deals to be had. Potential buyers thinking they might wait and see if prices continue to drop could easily miss out as genuine buyers are returning to the market in good numbers.”
