Gara Rock, a cliff-top resort near Salcombe on the Devon’s ‘Gold Coast’, is set to become the most expensive property on the West Country market with an asking price of £8.5 million.
The resort includes an 18 bedroom boutique hotel, a number of high-spec cottages, a café/restaurant, 11 apartments and a spa which features swimming pools, a sauna and steam rooms.
Agent Colliers International is marketing the property as an investment opportunity with director Simon Wells, describing it as “one of the most stunning locations I have ever seen” and as a “unique proposition”.
Mr Wells adds that these kinds of investment opportunities in coastal areas are quite rare and that “the residential element has an open planning consent rather than a limited holiday-only restriction, which is often the case”.
The buyer could either continue the existing hotel business or divide the various elements and sell them off separately
Gara Rock originally served as coastguard cottages before it was converted into a hotel in 1909. During the 1930s it attracted a clientele of the rich and famous until it was requisitioned for wartime use. Gara Rock reopened its doors in 1946 and operated as a family hotel for decades. It was recently rebuilt and refurbished before being placed on the market.
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