Strand Hotel, Bude, in Administration

By dawnrw | Tuesday, January 31, 2012, 12:00

Well, the rumours seem to be true. Sadly the Strand Hotel in Bude IS in administration. Below is a copy of the press release from the Administrators. Meanwhile, the Strand continues trading so if you have booked a Valentine's table, etc., it is still functioning.

Strand Hotel still open but in administration

Zolfo Cooper statement regarding Property Edge Lettings Limited (In Administration) – Strand

Hotel

Simon Wilson, Fraser Gray and Anne OâKeefe, Partners at Corporate Advisory and Restructuring

specialists Zolfo Cooper, were appointed Joint Administrators over Property Edge Lettings Limited

(the Company).

The Company owns the Strand Hotel, a 32 bed, luxury hotel with 22 holiday apartments in Bude,

North Cornwall. There are approximately 40 staff at the hotel.

The Administrators were appointed as a result of the Company experiencing cash flow problems

given its exposure to todayâs challenging leisure sector.

Simon Wilson, Partner at Zolfo Cooper said: "Unfortunately, like so many hotels exposed to

declining consumer leisure spend, the deterioration in trading conditions has led to increased

financial pressures on the business. Consequently, administration was the only viable option

remaining.

"However, we believe the Strand Hotel is an attractive proposition for a range of potential buyers,

especially given its recent £6 million refurbishment and prime location on the North Cornwall coast.

"We will continue to trade the business while exploring all possible options for its future and we

welcome expressions of interest from third parties. The hotel remains open as usual and we would

like to take this opportunity to thank staff for their dedication and professionalism during this

process."

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Comments

far be it from you do your maths i lost everything doing it it is the most beutiful part of britain it is old cornwall the last place in cornwall like it bude will always be a place i love and should you lose your negativity and open your eyes you would notice it has shutters at night bet you havnt been to the roof terrace or watched the otters in the river think how 200 people centre of town would help bude and support it look at the beach beutifully done small 5 star he had more pounds per feet and has transformed it so they put ajob center thing next to him i admire what hes done wish him and any future owners every success the long term of more flats in hotels was made it already has planning you would be an idiot ttto action it it has run at 70 80 percent full it needs finishing slightly with some love and respect to the building and community its 1 fault is lack of any control at nightclub council wouldnot fight it lifes not always about money as to what you get out of life some of the people in budeare negative most are just like myself cornish and proud to be i hope it gets bought by cornish and pppppeople support the staff in what is a transition

By shaunpolsloe at 19:54 on 16/02/12
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Meanwhile, management are trying to keep the place open in order to maintain local jobs, so giving the Strand all the support possible in terms of using the brasserie, etc., is to be encouraged. Presumably it is also a more attractive proposition to potential buyers if it is functioning in some capacity.

By dawnrw at 17:49 on 31/01/12
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Far be it for me to say highly paid professional business trouble shooter are wrong but I'd predict there will be few takers for The Strand as a going hotel concern.
Refurbishment aside I believe the building/ location just isn't special enough to work as a top end hotel and there really isn't the demand for it to operate profitably in the mid-market.
I hope I'm wrong but I think the real choice the Council and wider community face will be whether to allow a change of use to residential apartments /flats or endure another lengthy period with The Strand boarded up.

By kevincolwill at 16:08 on 31/01/12
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