Cliftonville Hotel, an historic seaside hotel at Cromer, has been sold to London-based, City Pub Company, within three months of coming to the open market, and was sold on a freehold basis, off a guide price of £1.8m.
Built in 1897, the Cliftonville Hotel boasts an elegant Edwardian charm throughout its 30 sea-view bedrooms, extensive bar and dining facilities and original ballroom, and is regarded as one of the finest hotels along the Norfolk coast.
The Grade II-listed property came to the open market through Christie & Co in June, following the previous owners’ decision to retire earlier in the year. The hotel has been family owned since it was acquired through Christie & Co in 1995 and has grown substantially over the past 27 years, having received significant ongoing investment.
Belinda Cammell who ran the hotel with husband Robert and sister, Annette Grundy commented, “It has been our pleasure to have been involved with the hotel for the last 27 years and we are grateful to be leaving with many happy memories.
'We have worked with the most wonderful colleagues and thank them all for their hard work and dedication over the years. 'Thank you also to all of our very loyal customers, many of whom we are pleased to call friends.
'We are so pleased that City Pub Group are taking over the hotel to move it forward and we wish them every success.”
The new owner, City Pub Company own and operate an estate of 45 premium pubs across the southern half of England and Wales. The group was quick to move in on the opportunity to acquire one of the region’s leading hotels and the sale completed within three months of the property coming to the open market, to the disappointment of a wide range of other interested investors.
City Pub Company Founder and Chairman, Clive Watson commented, “We are delighted to have acquired the Cliftonville Hotel which adds to our collection of hospitality assets in Norfolk and beyond.
'We are continuing to grow and this purchase fits in to our strategic plan to buy highly profitable businesses to which we can add value with our buying power and the highly experienced management team we have in place. We are looking forward to investing in to the property further and to trading the hotel in to the long term.”
Tim Gooding, Director in Christie & Co’s Hospitality team who handled the sale adds, “The Cliftonville Hotel is one of the best-known hospitality operations in Norfolk, a county which has seen an exponential increase in demand in our sectors, particularly over the last 18 months.
'With staycations likely to be an important feature in the trade for the foreseeable future, profitable and well-located businesses like the Cliftonville will continue to trade very well and remain sought after assets for growing companies wishing to be represented in East Anglia.
' We wish our clients and the buyers good fortune over the coming years!”