The Hotels Agency team of Colliers International has completed the sale of the Arbour Hotel in Barmouth, off an asking price of £665,000.
Acting on behalf of the private owner, Karen Mumford, the hotel has been sold to Somerset-based real estate company, Carlauren Group, which has a portfolio including medium to long-term resort accommodation and care homes.
The Arbour Hotel is a well-established commercial seafront hotel located within the busy North Wales tourist town of Barmouth, next to Snowdonia National Park. Situated on the main promenade, overlooking the estuary of the River Mawddach and Cardigan Bay, the Hotel encompasses 35 bedrooms, a lounge, 65-cover dining room, function room and bar. The opportunity also included the acquisition of a three bedroom owners’ accommodation, with private car parking.
“Carlauren Group’s acquisition of the Arbour Hotel follows their recent purchase of The New Hacketts Hotel in Blackpool. Both of the hotels have huge scope to increase trade and are ear-marked for significant redevelopment,” said Neil Thomson, Associate Director of Hotels Agency who covers the North West and North Wales.
The present owners acquired the property in 2004 and have been running the hotel as a lifestyle business, opening only between the months of April and November and solely on a bed and breakfast basis. There is therefore significant opportunity for the owners to dramatically increase turnover by trading all year round and opening the restaurant and bar to non-residents.
Thomson added: “The hotel and guesthouse market remains buoyant and we are continuing to see premium prices being achieved, primarily due to the number of overseas investors and southern-based buyers who are driving the market and investing into locations such as North Wales.”