The Park Hotel in Redcar, along the Yorkshire coast,has been brought to market through Christie & Co with an asking price of £950k.
This 32-bed seafront hotel is prominently located close to the town centre and offers panoramic coastal views.
Boasting a large bar and restaurant, and ample on site parking, The Park Hotel has been owned for 20 years by Lee and Claire Dexter, well known local business people, who are now selling to pursue other ventures.
Asked about his thoughts on the sale, Lee commented, “It has been a wonderful journey since we purchased the hotel back in 2003 and since then we have invested heavily in the building and the business.
'In fact, 2022 was our best ever year, both in terms of turnover and profits and so we feel we are passing on a great business with a good team and strong client base.”
The ongoing success of Lee and Claire’s business is also due in no small part to the council’s recent investment into the regions booming industries.
Redcar sits at the mouth of the River Tees and the town itself is about to undergo a major £25m rejuvenation of the town centre and sea front. This will also help to swell the visitor numbers already attracted to the lovely Cleveland coastline and the North York Moors National Park, which is very close by.
Mark Worley, Director in Christie & Co’s hotel team who's handling the sale, added, “This is an excellent opportunity for an experienced hotel operator or indeed a first time buyer new to the hospitality trade, to acquire a very well run and profitable hotel, with little or no investment required.
'Lee and Claire’s investment and hard work has paved the way for a new owner to take over a good and settled team and to enjoy the rewards, hopefully for many years to come.”