The Palace Hotel in Torquay bought by overseas investors

03 July 2017

The Torquay Palace Limited, represented by Savills, has sold the Palace Hotel to the Singapore based Fragrance Group for an undisclosed sum.

The iconic 4-star hotel features 141 hotel bedrooms and extensive meeting and function space, set in approximately 19 acres of gardens and grounds. Previously planning permission was granted for the construction of 137 apartments within the hotel grounds as well permission to add further hotel bedrooms and a spa.

Martin Rogers, head of UK hotel transactions at Savills comments: “The sale of the Palace Hotel to Fragrance Group reiterates the strong demand we are seeing from overseas investors for regional assets.

“With the continued weakness of Sterling offering favourable exchange rates and the compression of yields in prime markets we expect this trend to continue.”

 
 

Key Contacts

Martin Rogers

Martin Rogers

Head of
Hotel Transactions, Europe

Savills Margaret Street

+44 (0) 20 7409 8039

 

Rebecca Allen

Rebecca Allen

PR Officer
Commerical Marketing & Press

Savills Margaret Street

+44 (0) 207 409 8937