A South Devon hotel, renowned for inspiring two of Agatha Christie’s novels, will no longer be sold, as confirmed by the owner. Burgh Island Hotel, a distinguished art deco establishment situated on a private tidal island, was initially listed for £15 million in May. The hotel’s rich history includes hosting notable figures such as Winston Churchill, the Beatles, and Noel Coward, as stated on its website.
The Burgh Island Hotel, a Grade-II listed property, has secured a £5.4 million funding package from Metro Bank. This financial boost will facilitate significant refurbishments to the hotel’s infrastructure and aid in the preservation of its extensive collection of art deco antiques and architectural features. Among the planned enhancements are a new water treatment works and front roof, scheduled for completion by late September.
Additionally, the hotel will see reinforcements to its sea defences to combat cliff erosion and will undergo extra cladding and repainting. The decision to withdraw the hotel from the market was made despite the owner receiving numerous ‘attractive offers’. Giles Fuchs, the hotel’s owner, expressed his enthusiasm: ‘I am delighted to announce that I will be continuing as the owner of Burgh Island. The refinancing agreed with Metro Bank will facilitate further investments in the Hotel and enhance its infrastructure, services and beauty while maintaining its art deco authenticity and commitment to sustainability.’
Nicholas Kalamaras, head of hospitality and leisure at Metro Bank, remarked: ‘[Burgh Island] is already recognised as one of the world’s most admired hotels and is highly valued by its guests. Its location, exceptional services and unparalleled quality make it a unique establishment, but with its own challenges too, which this refinancing will help the owners address.’
Advised by Westfort Advisors, the owners are in a strong financial position. Richard Herring, co-founder of Westfort, added: ‘The owners are well-capitalised and their focus on restoration and sustainability will promote long-term value growth.’ The hotel’s withdrawal from the market indicates a strategic choice to invest in preserving its historic and cultural significance rather than transfer ownership. This approach aligns with a broader commitment to sustainability and heritage conservation while enhancing the guest experience.
The Burgh Island Hotel’s decision to remain off the market, bolstered by a substantial funding package, paves the way for extensive refurbishments. This move underscores a commitment to preserving the establishment’s historical significance and enhancing its unique art deco charm.