Boutique Hotel overlooking the Looe River sold to Adamo Property Group
Specialist business property adviser, Christie & Co has successfully sold the Rivercroft Hotel in the heart of Looe, Cornwall, to the Adamo Property Group.
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Boasting stunning views of the Looe River, the hotel is set in the former home of a ship captain, believed to have been constructed in the 1890’s. Since 1977, the building has been owned and operated as a small hotel by Glenn and Julie Cairns, comprising 11 ensuite rooms and four recently self-contained apartments, along with a popular restaurant and bar.
The new owner, Adamo Property Group will undertake a major refurbishment, bringing it up to a very modern specification. Director of Adamo Property Group, Robin Bruce comments, “It is hard not to fall in love with Looe and its unique charms. We know the town extremely well and are fortunate to have several properties within Looe and the surrounding area. The Rivercroft Hotel was quickly identified as an excellent addition to our high-quality lifestyle portfolio and we look forward to welcoming guests in summer 2023.”
Stephen Champion, Hospitality Director who handled the sale, comments, “The recent boom in ‘staycations’ has seen a significant increase in demand for holiday accommodation across the South West region. Due to a lack of available existing businesses in this sector we have seen expanding operators looking at alternative opportunities to create high quality accommodation in desirable parts of the South West. The Rivercroft’s waterfront location and central position in the picturesque fishing town of Looe is ideally suited for the new owners’ purposes and we look forward to seeing how their newest development progresses.”
Previous owner, Julie Cairns adds, “We are delighted to have sold the Rivercroft, which has been our home and business for over 45 years. We are looking forward to a well-earned retirement following the sale and wish the new owners all the best with the business.”
The Rivercroft Hotel was sold for an undisclosed price.
For further information on this press release, contact:
Bronte Hughes, Corporate Communications Executive
P: 020 7227 0794 or E: bronte.hughes@christie.com
Contact the agent:
Stephen Champion, Director- Hospitality
M: +44 7736 619 536 or E: Stephen.Champion@christie.com
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