Investment Group Buys Burgh Island Hotel and Plans Multi-million £ Refurbishment
Date: April 2018
Location: Bigbury, off the South Devon Coast, UK (access via Sea Tractor!)
Name: Burgh Island – four star currently
No. of Keys: 25
Seller: Deborah Clark & Tony Orchard, who themselves acquired the property in 2001 from Tony Porter. They were advised by Stephen Page & Partners.
Buyer: An investment group led by Office Space in Town (OSiT).
OSiT has said the hotel will undergo a multi-million-pound 12-month renovation, retaining its 1920s identity but possibly seeing the addition of a private members’ club and luxury spa.
The pool suite which the former owners had planned and gained planning permission for will not form part of the renovation plans (thankfully – see picture!), and the hotel will not close during the refurbishment.
This is the first time OSiT has expanded beyond serviced offices. The group will take over the Grade-II-listed hotel and the island’s pub, the Pilchard Inn, which was established in 1336, and also become the new owners of the whole island.
The island is cut off from the mainland twice a day, requiring a ‘sea-tractor’ to transport guests to and from the hotel.
Giles Fuchs, co-founder and chief executive of Office Space in Town, said: “The restoration of Burgh Island hotel to suit modern tastes will be our first project. Luxury tourism in Britain is booming, and we are delighted that our first investment in this sector will serve to enhance and ensure Burgh Island continues as a leading high-end travel destination.”
Vlad Krupova, general manager at Burgh Island, added: “The team at Burgh Island is delighted to be working with OSiT and their team to further improve the hotel’s amenities and continue the journey to further its rightful place as a national treasure as well as a top domestic and international leisure destination.”
Price: the guidline when the hotel was put on the market in 2017 was £10m, but the price paid is undisclosed.
Price per Key: Around £400,000
THPT Comment: As an art deco fan, i am sure all the previous guests will fear the worst with new owners changing that, so it appears great that OSiT plan to refurb the property “sympathetically”.
First Seen: The Caterer