An investment group led by Office Space in Town (OSiT) has bought Burgh Island hotel, on the south Devon coast, in a multimillion-pound deal.
The group, spearheaded by the office provider, has acquired the 25-bedroom, art deco property in Devon from Deborah Clark and Tony Orchard, who themselves acquired the property in 2001 from Tony Porter.
OSiT has said the hotel will undergo a multimillion-pound 12-month renovation, retaining its 1920s identity but possibly seeing the addition of a private members' club and luxury spa. The pool suite which the former owners had planned and gained planning permission for will not form part of the renovation plans, and the hotel will not close during the refurbishment.
This is the first time OSiT has expanded beyond serviced offices. The group will take over the Grade-II-listed hotel and the island's pub, the Pilchard Inn, which was established in 1336, and also become the new owners of the island.
The island is cut off from the mainland twice a day, requiring a ‘sea-tractor' to transport guests to and from the hotel.
Giles Fuchs, co-founder and chief executive of Office Space in Town, said: "The restoration of Burgh Island hotel to suit modern tastes will be our first project. Luxury tourism in Britain is booming, and we are delighted that our first investment in this sector will serve to enhance and ensure Burgh Island continues as a leading high-end travel destination."
Vlad Krupova, general manager at Burgh Island, added: "The team at Burgh Island is delighted to be working with OSiT and their team to further improve the hotel's amenities and continue the journey to further its rightful place as a national treasure as well as a top domestic and international leisure destination."