The Greenbank Hotel has acquired the freehold of The Falmouth Hotel in Falmouth, Cornwall, UK, for a guide price of £7.5m ($9.53m).

The sale of freehold has been facilitated by Savills, on behalf of Richardson Hotels.

With ‘excellent’ sea views, the Grade II Listed hotel features 71 en-suite bedrooms and a spa with a fully equipped gym, indoor heated swimming pool, hot tub, sauna and various treatment rooms.

It also comprises an AA rosette-rated Castle Restaurant and bar with expansive views, as well as three function rooms to accommodate up to 170 guests.

Situated in a prime location in Falmouth, the hotel overlooks Castle Beach and is near Gyllyngvase Beach, the town's largest beach.

Savills associate director for hotel capital markets Harriet Fuller said: “We are delighted to have assisted Richardson Hotels in disposing of this excellent property as part of their long-term strategy. The Falmouth Hotel is one of Falmouth’s best-known hotels, with further opportunities to increase the hotel’s offering, subject to obtaining the necessary consents.”

Furthermore, Richardson Hotels is looking to divest the Abbey Sands Hotel in Torquay, Devon, for £1.95m.

The 47-bedroom hotel features sea views, a ballroom, a restaurant and bar, and gardens with an outdoor swimming pool.

In March 2024, Richardson Hotels owner Keith Richardson said: “I have decided to sell these hotels as part of a retirement strategy. The purchaser of these hotels will inherit excellent staff and I am sure they will continue to look after our staff, guests and these fabulous hotels going forward.”