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RSM has advised on the sale of Hotel 52 (Sea) Limited out of administration, selling the business and assets of the company.
The advisory firm has secured the sale of the hotel, known by its trading name as the Sea Hotel, to Yorkshire-based business Resource Medical (UK) Limited.
Lee Lockwood and Gareth Harris of RSM UK Restructuring Advisory LLP were appointed as joint administrators of the company by the floating charge creditor Assetz Capital.
The hotel was brought to the market on behalf of administrators by sector specialist Colliers.
Lockwood said: “It has been a complex nine months facilitating the sale of the Sea Hotel and I am pleased we have been able to agree a sale with the new owner which has secured the majority of future bookings. I would like to thank all staff and guests for their continued support and understanding during a challenging time.
“Given its significance as a historic building, I hope that this sale will ensure tourism continues in the area and supports the local economy for years to come.”
While the hotel was marketed for sale, it remained open, with the vast majority of future bookings and events being honoured.
