A SEAFRONT hotel in Barmouth has been sold to a Somerset company for over £600,000.

The Arbour Hotel on Marine Parade, has been sold to Somerset-based Carlauren Group, which has a portfolio including medium-to-long-term resort accommodation and care homes.

The Arbour Hotel is a well-established commercial seafront hotel on the main promenade, which has 35 bedrooms, a lounge, 65-cover dining room, function room and bar. The opportunity also included the acquisition of a three bedroom owners’ accommodation, with private car parking.

Brokers, Colliers International have confirmed that it has completed the sale of the hotel off an asking price of £665,000.

Neil Thomson, associate director of Hotels Agency who cover the north west and north Wales said: “Carlauren Group’s acquisition of the Arbour Hotel follows their recent purchase of The New Hacketts Hotel in Blackpool.

“Both of the hotels have huge scope to increase trade and are ear-marked for significant redevelopment.”

The present owner, Karen Mumford, acquired the property in 2004 and has run the hotel as a lifestyle business, opening only between the months of April and November and solely on a bed and breakfast basis.

There is said to be significant opportunity for the owners to dramatically increase turnover by trading all year round and opening the restaurant and bar to non-residents.

Mr Thomson added: “The hotel and guesthouse market remains buoyant and we are continuing to see premium prices being achieved, primarily due to the number of overseas investors and southern-based buyers who are driving the market and investing into locations such as north Wales.”

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