Hotels specialists at Colliers International believe the go-ahead for Hinkley Point C could switch an already buoyant market into overdrive.
Simon Wells said: “There has been a training programme with decommissioning teams working on the old reactor, so Hinkley has always provided bed nights for the local economy.
“The announcement that Hinkley C will finally go-ahead will provide a further shot in the arm for owners and operators around the Hinkley development – and the ripple effect will reach those on the edge of the catchment area.
“Visitors and business travellers used to staying in hotels and B&Bs closer to the development may well find themselves pushed further out, which could boost hotel occupancy quite some distance away – such as the new hotels near Bristol Airport.”
The announcement coincides with a sharp upturn in hospitality spending in August which saw hotels, restaurants and pubs benefit as consumer spending hit a 13-month high.
Hotels directors Simon Wells and colleague Peter Brunt have agreed eight sales totalling £8 million since the referendum in June, and predict that the market will remain robust.
Simon Wells said: “The question of whether or not the power station was going to be approved was central to every operator’s business plan – and whether or not they should make their move.
“Those banking on the Government’s final approval may now be at the front of the grid when it comes to serving the upsurge in business custom the new reactor will bring.
“On the other hand, hanging on until Theresa May made her final decision may have left some businesses struggling to get a foothold in on an already crowded market.
Simon said he has a number of suitable properties on the books at the moment. “I have Farthings, an elegant country house at Hatch Beauchamp on at £1.5m. I am also selling the 12-bedroom Meryan in Bishops Hull near Taunton.”
He is also handling the confidential sale of a large property nearby which he says would be perfect for a company if they were to find themselves handling a big Hinkley contract and wanted to have a property in which to house workers instead of paying hotel bills.
He said: “Hinkley C will create a host of micro climates within the local hospitality sector. In the first instance we believe investors will be looking for quality accommodation – such as hotels and other large properties currently on the market, rather than paying years of hotel bills.
“Thousands of workers involved in Hinkley C will be requiring temporary, mid and long term accommodation, and the wider hotel and hospitality sector will be in the front line in terms of meeting this demand.”
