Savills, on behalf of the joint administrators James William Stares and Rupert Graham Mullins of Rothmans Recovery Limited, has bought to market The Priory Bay Estate for a guide price in excess of £3 million.
Back in November last year Island Echo exclusively reported that the future of the hotel was uncertain as the hotel’s management consulted with staff over possible redundancies. Now, it has been confirmed that the affairs, business and property of Peartime Limited t/a The Priory Bay Hotel – which is in administration – are being managed by James Stares and Rupert Mullins the Joint Administrators, who act as agents of the Company and without personal liability.
Set in 48 acres, the estate benefits from a private beach and houses a total of 44 bedrooms. The Grade II listed country house offers 18 suites/bedrooms, with additional letting accommodation in converted barn and cottage developments. There are 2 restaurants within the property, as well as tennis courts, a six hole golf course and a helipad outside. The self-contained nature of the estate with it’s extensive grounds and view over the Solent has makes it an ideal destination for weddings and conferences.
Martin Rogers, head of UK hotel transactions at Savills, comments:
“The Priory Bay Estate offers a unique opportunity to the buyer, it’s location and heritage sets it apart from other hotels on the island. It offers a range of income streams from the 2 restaurants, and weddings and conference facilities, providing year round business”.