The Raithwaite Estate, between Whitby and Sandsend, has been sold as a joint venture to property developers Galliard Homes and O’Shea Group.
Raithwaite is on the outskirts of Sandsend and the hotel currently comprises 73 en-suite bedrooms as well as spa and leisure facilities, which include an indoor heated swimming pool, steam room, sauna and four treatment rooms.
The hotel sits on about 85 acres of land, on which approved planning permission was granted for a 30-bedroom extension, as well as permission for 190 holiday dwellings, comprising cottages, apartments, lodges, and villas, as well as a retail village, creating a truly unique staycation destination.
Mark O’Connor, investment director at O’Shea Group, said: “We are incredibly excited to be taking the reins at Raithwaite Sandsend. Already recognised as one of the most sustainable hotels in the UK, Raithwaite Sandsend is uniquely positioned between the coast and North York Moors National Park offering guests unrivalled views and only moments from the historic town of Whitby.
“The team behind the project are looking forward to expanding the hotel, alongside developing the accompanying holiday lodges, cottages, and coastal villas. We will also be investing into an artisan village filled with bespoke shopping and dining experiences as well as a state-of-the-art wellness centre. We believe that Raithwaite Sandsend will become one of the UK’s leading retreats, with a key focus on sustainability and wellbeing.”
The sale was completed by global property adviser Knight Frank and partner Henry Jackson, their head of hotel agency, said: “We are delighted to have concluded the sale of Raithwaite Sandsend to joint buyers Galliard Homes and O’Shea Group.
“Operating as a highly successful carbon neutral business, with exciting expansion opportunities across the site, the hotel attracted very strong interest from a range of potential buyers, with multiple offers received.
“We are excited to see how the hotel and estate develops.”
Max Hunter of Maritime Capital, representing the owners, said: “We would like to take this opportunity to thank all the excellent and talented team at Raithwaite who have worked so hard to create this first-class hotel. Raithwaite’s next chapter looks very exciting, and we are delighted that it is in such safe hands.”