New owners are being sought for an exclusive multi-million pound cliff-top resort in Devon.
Located on the headland near Salcombe, Gara Rock is a unique investment incorporating a collection of cottages, apartments and duplexes as well as a luxury spa, boutique hotel and a locally-renowned café restaurant.
Gara Rock is being marketed for sale to potential investors with an anticipated price tag exceeding £8.5m by property agent Colliers International.
Director Simon Wells said: "The Gara Rock resort is a unique proposition. Not only does it benefit from a stunning seafront location with breath-taking panoramas but it is surrounded by beautiful beaches, hidden coves and harbours making it an attractive destination to visitors and holiday-makers. Opportunities to invest in a coastal scheme such as Gara Rock are rare and we are excited to be marketing such an exclusive development."
With a seemingly secluded cliff-top location, Gara Rock sits just a few hundred metres away from the beach below and is nestled between the bustling town of Dartmouth and the village of East Portlemouth which links to Salcombe by a short ferry ride. The area features the South West coastal path and is a second home to the yachting set, with some of the best sailing available in the UK.
Gara Rock's history dates back to the 19th Century when a remote row of coastguard cottages on the cliff top kept watch over one of the most dramatic sections of the South Devon coastline. In 1909, they were converted into a popular family hotel which became the haunt of the rich and famous during the 1930s. After being requisitioned during the war years, Gara Rock reopened as a small family hotel in 1946 and became a treasured holiday destination for the following decades.
Gara Rock has now had a dramatic transformation and has been completely rebuilt before being offered for sale as a property investment by Colliers. The resort package includes the freehold of the scheme and vacant possession of four high-specification cottages, 11 apartments and duplexes, as well as an 18-bedroom boutique hotel with picture-perfect sea views and a luxurious holistic spa featuring swimming pools, a sauna and steam rooms.
Mr Wells continued: "The Gara Rock complex offers the ideal investment opportunity for its potential new owners as there is the option to either run it as a destination resort or to sell off individual units. What is particularly attractive is that the residential element has an open planning consent rather than a limited holiday-only restriction which is so often the case."
For more information on Gara Rock, contact Colliers International on 0117 917 2000.