THE

RESORT

ROCK,

1 "AN EXTREMELY RARE OPPORTUNITY TO ACQUIRE ONE OF CORNWALL’S VERY BEST HOTELS"

EXECUTIVE SUMMARY › Opportunity to acquire one of Cornwall's top hotels overlooking the Atlantic Ocean

› Located in the heart of the UK's richest second home market

› The resort comprises 55 bedroom Hotel, 15 Apartments and 38 Villas

› Two prime restaurants for guest and non-resident use

› Cowshed Spa

› Excellent leisure facilities including indoor and outdoor swimming pools

› Planning permission for further development to add luxury hotel suites and extend the spa and leisure facilities

› In total circa 8.9 acres

2 3 Savills is delighted to be appointed sole agent to offer for sale St Moritz. The sale of St Moritz offers an opportunity to purchase one of Cornwall’s leading hotel and spa operations for the first time since its development in 2008.

4 5 St Moritz is a purpose built resort and spa hotel, which was completed in 2008. The Property is of a striking Art Deco design and is a local landmark, situated in landscaped gardens and grounds created by Mike Nelhams, the curator of Tresco Abbey Gardens. The property sits in an elevated position overlooking the Atlantic Ocean.

The Property offers a range of different accommodation from its own rooms to those from units sold on a long leasehold basis. Its total income is derived from rooms, restaurants, bar, spa, leisure facilities, letting commission, service charges and owners use of leisure facilities.

In total the site extends to circa 8.9 acres. There are 2 restaurants, a bar, indoor and outdoor pools, the only ‘Cowshed Spa’ outside of the Soho House Group, as well as landscaped gardens and grounds. There is planning permission to enlarge the indoor pool and spa and to create further luxury suites within the grounds of the property.

6 7 LOCATION St Moritz is located in the heart of the UK's richest second home market, sitting in close proximity to the world famous villages of Rock and and just across the from . The area has seen enormous growth in property prices and remains one of Cornwall’s most attractive markets.

The main demand drivers in the local area include the nearby sandy beaches of Daymer Bay and Polzeath Beach as well as the world class water sports that are available including surfing, windsurfing and sailing.

The area is also well known for its culinary offering with Rick Stein and Paul Ainsworth’s restaurants in Padstow and Nathan Outlaw’s restaurant in . Television shows such as Poldark and Doc Martin are filmed in the local area, taking advantage of the dramatic landscape and beautiful coastline and towns.

For keen golfers there are excellent courses available at St Enodoc Golf Club and Trevose Golf Club near Padstow. Additional attractions nearby are the Camel Trail, local National Trust properties as well as the rugged Cornish coastline and . The Hotel is located around 1 mile from Polzeath and 2.1 miles from Rock.

Total average annual tourist spend each year between 2014 and 2016 amounted to £1,725,000,000 for Cornwall County. During the same period, average annual overnight trips reached 4,068,000 accumulating to an average of 19,729,000 visitor nights each year.

8 9 TRANSPORT LINKS St Moritz is located in , . The Property is accessed via local roads and is around 15 miles from the A30 dual carriageway. Parkway is the nearest train station, approxi- mately 17 miles away, and offers direct services to London Padding- ton. International Airport is around 19 miles away offering flights to the rest of the UK and some European destinations. The Camel Trail provides an off road walking / cycling route along the Camel Estuary as does the famous South West Coastal path which passes right in front of the Hotel. Furthermore there is a Padstow – Rock foot passenger ferry operating continuously throughout the day at 12 minute intervals allowing access to the opposite side of the Camel River.

10 11 ST MORITZ HOTEL Room Type Quantity HOLIDAY VILLAS There is a range of accommodation offered across the site including apartments and bedrooms. First Floor Suites 8 38 holiday villas sold on a long lease hold The arrangement and ownership structure of the accommodation is as follows: First Floor King Rooms 8 basis (999 years). Floor OwnershipOwnership Possible configuration First Floor Cosy Rooms 8 34 let as 2, 3 and 4 bedroom self catering Ground RetainedRetained by by hotel hotel 31 bedrooms or 28 bedrooms plus a 3 bed apartment Ground Floor Accessible Suite (with conservatory) 1 holiday units.

FirstGround SoldSold on on long long leasehold leasehold basis basis 242 apartments letting bedrooms (3 bed) or 8x 3 bedroom apartments Ground Floor Accessible King Room 1 Let exclusively through St Moritz. SecondFirst SoldSold on on long long leasehold leasehold basis basis 62 apartments (3 bed) plus 8 (3 bed) hotel investment apartments Ground Floor Family Junior Garden Suites 7 ThirdSecond SoldSold on on long long leasehold leasehold basis basis 46 apartments (3 bed) Ground Floor Garden Suites 7 FirstThird SoldSold on on long long leasehold leasehold basis basis 244 apartments letting bedrooms (2x 3 bed or 8xand 3 bedroom2x 4 bed) apartments Ground Floor King Rooms 7 FirstFourth SoldSold on on long long leasehold leasehold basis basis 241 penthouse letting bedrooms apartment or 8x (4 3bed) bedroom apartments Ground Floor Cosy Rooms 8 Total 55

Lounge, Apartment 203

12 13 Ground Floor Junior Suite

Master Bedroom, Apartment 203

Lounge, Apartment 308 Ground Floor Suite Lounge

14 15 Shorecrest Restaurant SeaSide Cafe Outdoor Poolside

FOOD AND BEVERAGE St Moritz offers a range of superb food and beverage facilities.

The Shorecrest Restaurant provides formal dining year round for residents and non-residents alike and can accommodate up to 65 diners.

The Restaurant Bar and Terrace offers a lighter menu and a fine selection of beverages for 35 covers.

The SeaSide Café is a relaxed dining space with both indoor and poolside dining areas, overlooking the Camel Estuary and Stepper Point, accommodating up to 55 covers.

Reception

16 17 HEALTH AND LEISURE FACILITIES The Leisure Club is open to hotel guests as well as club members throughout the year. The Gym is well equipped with Life Fitness equipment. There is an Indoor Pool and Jacuzzi along with sauna and steam room.

The Outdoor Pool overlooks the Camel Estuary and is biomass heated. The surrounding patio area provides poolside Couples Treatment Room loungers, hammocks and beach huts.

There is a full sized, asphalt tennis court, a children’s play area and table tennis tables COWSHED SPA are located in the gardens. The Cowshed Spa comprises six stylish treatment rooms, The Cowshed Spa has operated since the Hotel opened under Gym offering a range of treatments as well as beauty therapies, an informal agreement with Soho House. A formal licence or operating consistently in excess of 90% occupancy in peak agreement will be put in place by completion. months. There is also a Cowshed retail shop.

Indoor Pool

18 19 GARDENS AND GROUNDS In total there is circa 8.9 acres of landscaped gardens and grounds.

There is a dedicated laundry and storage facility on site. The storage facility allows leaseholders to store their belongings when they are renting units out.

There is Hotel and Apartment parking for circa 97 cars and a further 83 Villa parking spaces.

Outdoor Pool and SeaSide Cafe

20 21 M90

M90 M876 M9 M80

M9 M80 M8 M8 M73

M8

M77

M74

9 4

23 LANE FRANCIS

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DEVELOPMENT POTENTIAL M6 M69 Fairview M1 Arish M6 A1(M) PA16/00900 BIRMINGHAM M6 Below is a summary of the active planning restaurant, enlarge kitchen and provide a private Park St Moritz M42 Trebetherick (Hotel) 4 M40 M45 permissions: dining room with 12 covers. Arish M5 Vean Tregarrick M1

Under PA16/00900, planning permission has Planning Application PA16/05414 to provide a M40 M11 Tregawne M50 LB M5 A1(M) been granted to extend the spa building to pool/leisure building forPath families in conjunction with 1 M1 provide 10 treatment rooms, changing rooms, the owner of the adjacent holiday park allowing 1 to 5 M4 PA18/05169 M25 M1 salon, relaxation lounge/cinema, reception area, the retention of a family friendly facility. St Moritz Higher Farm M48 M5 M40 M25 Court M4 LONDON M25 Upalong M49 M4 M4 retail area, adult only pool, hydro pool and a spa M32 M4 Planning Application PA18/05169 to provide 8 M4 M4 BRISTOL café and bar. Also to increase the size of the Trenoweth M25 M20 further luxury suites. M3 M2 Four 54.9m M25 M26 Trebartha M20 Winds M5 M23 M3 E 0m 25m 50m 75m ver L gr odge een El 9 9 m

P 4

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Ordnance Survey © Crown Copyright 2018. All rights reserved. Licence number 100022432. Plotted Scale - 1:2500 FRANCIS S

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Witches Spa ta er E Camel Heights 36 h Fairview l et S use Trebetherick Thimble Tregar b o Arish Building u e r b H PA16/00900 T Treperran Park S St Moritz Witches ta Camel Heights Trebetherick (Hotel) 4 Thimble Fairview Arish Arish Treperran Vean PA16/00900 Tregarrick Park Luxury Contemporary St Moritz Hotel Rooms 4 Fairview (Hotel) Tregawne Suites Trebetherick Arish Arish LB & PA16/00900 Vean Park Path 1 Tregarrick ApartmentsSt Moritz (Hotel) 4 1 to 5 Trebetherick New Car Park AriPAsh 18/05169 B3314 Vean Tregawne St Moritz Higher Farm Tregarrick (30 Cars) LB Path Court Upalong 1

1 to 5 Tregawne PA18/05169 LB Trenoweth Path Higher Farm 1 Four 54.9m St Moritz Trebartha Court Winds PA18/05169 1 to 5 Upalong Rock Chapel Amble E 0m 25m 50m 75m ver L gr St Moritz Higher Farm odge een El m Trenoweth P Court Upalong engl C ot Trewidden tage Four 54.9m iddon Trebartha helter Trewornan Winds Ordnance Survey © Crown Copyright 2018. All rights reserved. Licence number 100022432. Plotted Scale - 1:2500 S Trenoweth E 0m 25m 50m 75m ver Four L gr 54.9m Trebartha odge een El Winds m P engl C ot E ver tage 0m 25m 50m 75m Trewidden iddon L helter Ordnance Survey © Crown Copyright 2018. All rights reserved. Licence number 100022432. oPlottger d Scale - 1:2500 El dge een S Ordnance Survey © Crown Copyright 2018. All rights reserved. Licence number 100022432. Plotted Scale - 1:2500 m P engl C ot tage Trewidden iddon helter Ordnance Survey © Crown Copyright 2018. All rights reserved. Licence number 100022432. Plotted Scale - 1:2500 S

22 1 1 23 GENERAL INFORMATION

METHOD OF SALE VAT St Moritz is being sold via a share transfer. Should the sale of the property or any right attached to it be deemed a chargeable supply for VAT purposes, such tax will be TRADE payable by the purchaser in addition to the sale price. The business is well-established and profitable. Detailed trading information is available to interested parties in the dedicated TUPE data room. The purchaser will be required to comply with the relevant legislation in respect of present employees. TENURE Freehold. Floors 1-4 of the main hotel have been sold on long VIEWINGS leasehold bases (999 year leases) as have the 38 villas on site. Strictly by appointment with Savills. Prior to making an appointment to view, we strongly recommend that you discuss SERVICES any particular points which are likely to affect your interest in the All mains services. property with a member of staff who has seen the property in order that you do not make a wasted journey. EPC EPCs are available in the data room. DATA ROOM https://sites.savills.com/projectlongstone LICENCES Premises licence. Civil ceremonies licence. CONTACTS Martin Rogers BUSINESS RATES T: +44 (0) 207 409 8039 Hotel: £275,000 M: +44 (0) 7972 000 267 Apartments: £81,800 (rates payable by leaseholders) E: [email protected] Villas: £152,500 (rates payable by leaseholders) James Greenslade FIXTURES AND FITTINGS T: +44 (0) 1392 455 719 Trade inventory will be included in the sale. M: +44 (0) 7870 555 893 E: [email protected] LOCAL AUTHORITY Cornwall County Council Harriet Fuller County Hall, Truro, Cornwall, TR1 3AY T: +44 (0) 1392 455 769 E: [email protected] M: +44 (0) 7807 999 768 T: +44 (0) 300 1234 151 E: [email protected]

IMPORTANT NOTICE: Savills, their clients and any joint agents give notice that: 1.They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.