Mon, 28 Feb 2011 | BUSINESS SALE
A grand hotel and holiday cottage business made famous by Channel 5's 'The Hotel Inspector,' has been put up for sale.
The Totnes, Devon-based Kingston Estate offers hotel accommodation in the main house, which dates back to 1737, alongside nine luxury holiday cottages and several offices based in the 10-acre grounds.
The entire estate, which also comprises a leisure centre with sauna, swimming pool and billiard room as well as a licensed bar, wedding hall and conference centre, is on the market for £3 million.
The business has brought in an income of £350,000 a year in the past, but its profits have been hit hard by the recession and its elderly owners have decided that it's time to move on.
Owner Michael Corfield said that the estate was extremely flexible: "A buyer might let the holiday cottages as an entirely separate holiday business without it intruding on them living in the house."
William Morrison of Knight Frank - who are acting as selling agents on behalf of owners Michael and Liz Corfield - said, "Of the six properties we've sold for more than £1.5 million in the past three months, half went to expat buyers and the others to London and Home Counties retirees who were moving west."
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FREEHOLD
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