Palace Hotel Torquay Sold to Singapore Fragrance Group

By Dev Anand | 18 January 2018

Date: August 2017

Location: Torquay, Devon, UK

Name: Palace Hotel – four star

 

No. of Keys: 141

Seller: Torquay Place Ltd

Buyer: Fragrance Group, an investment holding company which operates as a property developer in Singapore and Australia. It develops, deals, and trades in properties. The company’s development projects include residential, commercial, hotel, and industrial properties. It also runs hotel operations. This is their second hotel in Torquay, with a third acquired in December 2017

Price: £10m, freehold 20 acres of grounds and planning consent for 137 flats. Conference facilities for 1000 pax. 9 hole par 3 golf course. Indoor & outdoor swimming pools.

Price per Key: £70,922

THPT Comment: Glad to see that Fragrance will keep the property as a hotel and NOT redevelop as residential…Lots of movement at the top end in Torquay –  the Palace’s neighbour hotel (The Imperial) was also sold in 2016.

First Seen: Savills website

Posted in Recent Deals