Green Gables Scarborough Hotel Sold to New Owners as Stay Boom Makes Hotel Business ‘Boom’
The owner of the family-run Green Gables hotel in the West Bank in Falsgrave has decided to sell the property for several years.
On the edge of Falsgrave Park, the imposing five-story hotel has 37 rooms, 15 apartments and nine function rooms, as well as a bar, veranda, dining room, games room and heated indoor swimming pool. There is also a small shop, library, cafe, and the three-story owners’ house attached to the main building.
Mark Worley, Director of Hospitality for North East and Yorkshire for Christie & Co, who managed the transaction, said: “Overseas travel restrictions due to the Covid-19 pandemic have created an increase in domestic stay activities.
“As a result, there is excellent demand for UK hotel businesses, especially those located in national parks, tourist hot spots and seaside resorts, such as the Green Gables Hotel. “
Former owner Youfeng Jiang said the hotel’s location no longer complements the rest of its business portfolio and future strategy, and therefore decided to put the business up for sale.
The buyers of the hotel, who wish to remain anonymous at this stage, intend to keep the hotel business in its current format and inject a significant level of investment in rooms and public spaces.
Mr Worley added: “The added benefit of this particular hotel is the huge amount of accommodation on offer, which in turn provides a great opportunity to increase trade levels and capture the increasing number. visitors to the Yorkshire coast. “
The hotel was originally built as the Scarborough Hydropathic Establishment at a cost of almost £ 10,000 in 1889 by Professor Wells. It has retained many of its original features and once offered a variety of Turkish and Russian baths.
Specialized real estate broker Christie & Co last put the building up for sale in May 2016 for £ 900,000 and it was eventually sold for £ 500,000 in March 2017, according to the HM Land Registry.