Two Devon hotels up for sale for £23m

The Manor House Hotel and Ashbury Golf Hotel in Devon have been put up for sale as a single business, with offers of over £23 million being sought for the properties. The hotels, which are situated a couple of miles apart near the town of Okehampton, operate as one large leisure business and are being sold due to the current owners retiring.

Together, the hotels sit in over 500 acres of grounds, with 404 guest bedrooms and approximately 60 staff bedrooms. The business includes the world’s ninth-largest golf resort, with five 18-hole courses averaging in excess of 110,000 rounds played per year.

In addition to its world-renowned golfing, the hotels offers more than 50 daily leisure activities, including a range of sports and crafts, as well as a spa. The business has been described as one of the UK’s premier destinations for activity holidays, attracting approximately 135,000 participants per year and consistently generating annual revenue of over £15 million.

The business was initially acquired by Joan and Simon Essex in 1978 as a ten-bedroom manor house set on 17 acres. The couple say they acquired the business with the aim of building “the only sport and craft hotel in Britain, offering an unprecedented range of opportunities and facilities.” The couple say that they have now fulfilled this ambition and plan to retire.

The sale of the business is being handled by global property consultancy firm Knight Frank.

Matthew Smith, Partner in the Knight Frank Hotels team, said: "We are delighted to be acting as sole selling agents for the sale of The Manor House Hotel and Ashbury Golf Hotel, which operate as highly profitable multi-faceted unique leisure resorts.”

“The opportunity arises simply due to our client’s decision to retire from the industry. Through their vision and business philosophy they have installed an established structured management team with extensive knowledge of the operation supported by loyal, local and trustworthy staff who have embraced the business, have defined roles and responsibilities and are passionate to providing the very best experience for their guests.”

“Given the strength of the domestic market it is no surprise the business is currently benefiting from increased trading performance. The resorts, which are to be sold as one business, will no doubt appeal to an array of investors seeking a substantial land holding in the South West, and should provide further value-add and development opportunities.”

The sale of the business comes at a time when the UK’s hotel sector, along with the M&A market for UK hotels, is booming. In the wake of the COVID-19 pandemic, hotels are doing strong business due to the ongoing popularity of domestic holidaying and the resumption of corporate travel.

Other factors that are encouraging dealmaking in the hotel sector include the presence of large consolidators, bigger operators seeking to streamline portfolios after being hit during the pandemic and existing owners capitalising on the sector’s revival to pursue exit strategies.


Find businesses for sale here.

If you are looking for an exit, we can help!

Share this article

Latest Leisure and Lifestyle Businesses for Sale

View more businesses for sale