Hotel owner the Torquay Palace has brought the Palace Hotel in Torquay, Devon, to market for £10m.
Savills has been instructed to find a buyer for the 141-bedroom property, which is Torquay’s largest four-star hotel, set within 17.6 acres.
Planning permission for 137 apartments, further hotel rooms and a new indoor swimming pool and spa has already been granted. A three-bedroom cottage located in the grounds is also included in the sale.
Martin Rogers, hotels director at Savills, said: “This is a rare opportunity to acquire one of the South West’s largest and most established hotels, which will offer its new owner the flexibility to operate independently or under a brand. The scope for further development also provides excellent potential for enhancing long-term income.”
