Eastbourne hotel sold to first-time buyers
The 115-bedroom Hilton & Royal Parade hotel in Eastbourne has been sold for an undisclosed sum, off a guide price of £2.5m.
First-time buyers Dr Ram Aggarwal and his son, Ankur, have bought the property using funding provided by Barclays Bank.
Located on the Eastbourne seafront, the hotel has a 220-cover restaurant, newly refurbished bistro/coffee shop, lounge and two function rooms.
Ankur Aggarwal will run the hotel alongside the current management team.
"The Hilton & Royal Parade hotel offered a unique opportunity to acquire a well-established coaching business," said Matthew Smith, associate director at Christie & Co. "The quality of the business coupled with a comprehensive marketing strategy ensured that the hotel attracted a great deal of interest with multiple bids attached."
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By Janet Harmer
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