The business property adviser, Christie & Co, has announced the sale of the Green Gables Hotel.
Located at the top of West Bank, the five-storey hotel comprises 37 bedrooms, 15 apartments, and nine reception rooms, along with a bar, conservatory, dining hall, games room and heated indoor swimming pool. There is also a small shop, library, café and three-storey owners' house attached to the main building.
A spokesman said: “The seller, Youfeng Jiang, has owned the property for several years, however, the location of the property no longer complements the rest of his business portfolio and future strategy.
"The buyers, who wish to remain anonymous at this stage, intend to keep the hotel trading in its current format and inject a significant level of investment into the bedrooms and public areas."
Mark Worley, Hospitality Director for the North East and Yorkshire at Christie & Co said: "Foreign travel restrictions as a result of the Covid-19 pandemic have created a surge in domestic staycation business.
"As a result, there is excellent demand for UK hospitality businesses, particularly those in national parks, tourist hotspots and coastal resorts, such as the Green Gables Hotel. The added advantage with this particular hotel is the huge amount of accommodation on offer which in turn provides excellent scope to increase trade levels and to capture the upsurge in visitors to the Yorkshire Coast.”
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