NAKO Modular, family real estate development firm founded in 2023 by Naikee and Rusna Kohli, an innovative company that designs, builds and installs modular shelters for landowners, hotels and estates based in London has purchased Broomhill Estate which includes a boutique hotel and a sculpture park a sanctuary for fine arts set in 103 acre with over 200 artworks in North Devon well known coastal area of southwest England known for its dramatic cliffs, wild seas and sandy beaches.
The sale facilitated by Savills, British real estate services company based in London listed on the London Stock Exchange has been completed at an indicative price of £1.3 million. The complex, which included a hotel, a restaurant and the sculpture park, had been closed indefinitely in January 2024 and put on the market.
According to the BBC, the previous owner Frictionless Arts Limited said it received government support during the pandemic which put financial pressure on the property.
The hotel housed in a traditional British building built in 1913 was a popular location for the celebration of matrimony before closing has 7 recently renovated rooms, each redesigned with an art- house film, a restaurant with 150 seats, cafeteria, conference room, a treatment room and hydropool, an outdoor swimming pool in disuse, a tennis court.
A spokesman for the new property has enthusiastically stated that they are at the helm of Broomhill and the team is keen to enhance an already impressive offering by reopening the estate to hotel guests and the community.
In the coming months there is a program that consists of introducing a series of thoughtful updates and modern amenities throughout the property with the aim of creating an elevated guest experience.
Given Broomhill's importance to the North Devon community, a key objective is to preserve the unique character of the site and ensure it remains a beloved destination for years to come.
Former owner Alex Kleiner's CEO of former owner Frictionless Arts Limited said the hotel has immense potential and is excited to pass the baton to NAKO Modular to bring the hotel back to life. The sale means more than just a change of ownership it is the announcement of a new chapter of revitalization and investment in the property.
link https://www.thecaterer.com/news/north-devon-hotel-and-sculpture-park-sold-off-13m-guide-price
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