Search

Rooms for sale for £44,950 as quayside hotel looks to reopen

PUBLISHED: 14:10 02 September 2020 | UPDATED: 14:10 02 September 2020

The Star Hotel in Great Yarmouth is looking to raise capital by selling its hotel rooms to investors Picture: Anthony Carroll

The Star Hotel in Great Yarmouth is looking to raise capital by selling its hotel rooms to investors Picture: Anthony Carroll

Archant

A landmark hotel is looking to reopen with a re-brand and a raft of new investors.

The Star Hotel on Great Yarmouth’s Hall Quay had benefited from a six figure refurbishment, upgrading half its rooms and some public areas.

But with the easing of lockdown it has remained shut, sparking speculation about its future.

A booking agency that handles its reservations said staff had been told it would reopen at the beginning of October.

Meanwhile the hotel’s rooms are being advertised as investment opportunities with prices starting at £44,950.

Property investment company Opulent is selling individual guest rooms on a 149-year lease.

It says the funds raised from selling the rooms will be used to refurbish the remaining 22 rooms and other areas of the hotel.

To promote the sale the website says: “The refurbishment by the previous owners was done to a very high standard and has covered a large part of the hotel.

You may also want to watch:

“Not only were 19 of the bedrooms refurbished, but also the restaurant and ground floor bar which cost nearly half a million pounds.

“This investment into the business has paid dividends already with the restaurant and bar being a popular haunt for both locals and tourists to dine and drink in Great Yarmouth.

Another firm advertising the sale, Property and Invest, states: “The hotel is being purchased by Merydion who plan to add this hotel to their portfolio of three hotels that they currently own and sold in a similar way to this one.

“Merydion have decided to sell their individual hotel rooms to raise the capital required to fund a further refurbishment of the hotel as well as expand their portfolio of hotels in the future.”

The hotel shut suddenly in December 2016 leaving many festive diners in the lurch.

It was bought by father and son team Howard and Paul Bossick.

The pair set about a major refurbishment which was widely hailed as a boost to the town, but have since sold it.

Sarah Howarth, group finance manager for its new owners, said last month: “We hope to reopen in the next few months - we are trying to determine what is best to sustain the hotel for the future.

“We are hoping to re-brand before opening.”


If you value what this story gives you, please consider supporting the Great Yarmouth Mercury. Click the link in the orange box above for details.

Become a supporter

This newspaper has been a central part of community life for many years. Our industry faces testing times, which is why we're asking for your support. Every contribution will help us continue to produce local journalism that makes a measurable difference to our community.

Latest from the Great Yarmouth Mercury