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SET IN ONE OF CORNWALL’S PREMIER BEACHSIDE LOCATIONS, THE AWARD WINNING ST MICHAEL’S SPA AND WELLNESS RESORT WILL BE THE NEXT GENERATION OF COASTAL LIFESTYLE LIVING. WITH SUB-TROPICAL GARDENS, THE 4.2 ACRE SITE OCCUPIES FALMOUTH’S TOP LOCATION, FACING DUE SOUTH OUT TO SEA, OVERLOOKING THE BLUE FLAG, SANDY GYLLYNGVASE BEACH.
Cornwall has been voted “Best UK Travel destination” for six consecutive years, attracting over 5 million visitors per annum. The County has transformed in the digital age to stand out not only as a destination but as a brand symbolising fresh food and drink, outdoor pursuits, breathtaking land and seascapes and quality modern day living. A vibrant peninsula, the county has reportedly benefitted from £1billion inward investment in the past 15 years with a further £1billion expected over the coming 7 years.
Falmouth is one of Cornwall’s top aspirational towns and has the third largest natural harbour in the World. The Sunday Times ranked Falmouth University as the No.1 Arts University in the UK, having received over £100 million investment in the last 10 years. The Sunday Times also ranked Falmouth as the No.4 best place to live in the UK. It is a fast growing, vibrant and “year round” community.
Falmouth and the surrounding area offer the best of the county in terms of blue flag beaches, hidden coves and areas of outstanding natural beauty coupled with successful infrastructure and a diverse and growing business community.
The combination of the award winning St Michael’s Hotel and Spa and a visionary redevelopment of a prime seafront site will create a market leading leisure and residential complex with the “Spirit of the Sea” at its core.
INTRODUCTION
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ST MICHAELS HOTEL AND SPA GYLLYNGVASE BEACH, FALMOUTH, CORNWALL, TR11 4NB
• 4.2 acre Freehold site, facing south out to sea, opposite Blue Flag, sandy beach. Ten minutes walk from Falmouth centre
• Multi award winning AA 4-star, 2 Rosette, Hotel & Spa
• Full planning consent for: • 88 Deluxe Hotel bedrooms (Existing: 61 St Michaels rooms and 30 Falmouth Beach hotel rooms, letting cottage & 2 apartments, site cleared for development) • 4 Woodland Spa Lodges and major Spa Development • Residential consent for 56 sea facing apartments in the new iconic Liner building • New sea facing restaurant and retail space by the beach • 17 further, premium residential apartments - mostly sea facing • Extensive Health Club development with second existing 17m pool in place
• Existing 1200+ member Health Club & very busy spa
• Average of 80% occupancy over the last 12 years
• St Michael’s ARR 2015 £97
• 2014/15 Revenue excess £4 million; EBITDA excess £1M
CONNECTIONS:
RAIL: Falmouth Town - 10 minutes walk - Change at Truro for direct line to London Paddington
Air: Newquay International Airport - approx 45 minutes drive. 3 daily flights to London Gatwick Airport
Road: Truro - 12 miles. Then dual carriageway to London from 2018 via A 30 and M5. Exeter - 2 hours - 95 miles; Plymouth - 1 hr 45 mins - 65 miles; Bristol - 3 hours - 180 miles
Sea: Cruise ship port and local ferries
SUMMARY
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SITE INVENTORY
BUILDING CURRENT USE CONSENTED USE
MAIN HOTEL 53 Hotel Bedrooms 50 Deluxe Hotel Rooms Regatta Function Suite Expanded substantially Reception Re-located Flying Fish Restaurant As Existing The Locker lounge As Existing Feature Cocktail Bar and Public Areas As Existing Lounge As Existing 2 Meeting Rooms Reduced The Terrace Spa Café St Michaels Spa Major expansion to take over all of Health Club space and Pool/Wet areas St Michaels Health Club Re-located to Croft Building
THE CAPTAINS HOUSE 8 Hotel Bedrooms Re-developed to residential
TENNIS COURTS 4 Tennis Courts * As Existing + Café *15 year lease from Council
4 WOODLAND SPA LODGES Non existent Created
CLEARED DEVELOPMENT LAND Planning for hotel re-build The Liner - 56 Apartments and Commercial
THE CROFT BUILDING Falmouth Beach Health Club New St Michaels Health Club 17m Swimming Pool As Existing Sauna, Steam, Spa, Jacuzzis, etc As Existing M, F, & D Changing As Existing Gym & Studio Expanded significantly 24 Hotel Bedrooms Expand to 38 Bedrooms Hair Salon/Conservatory Re-developed Lounge Re-developed
THE MERMAID 2 Apartments Demolished as part of new sea front entrance 6 Hotel Bedrooms Offices
TREMOR Staff House Re-developed to residential
THE COTTAGE 3 Bedroomed Letting Re-developed to residential
PROPOSED
NOTES
THIS DRAWING IS THE COPYRIGHT OF THE ARCHITECT AND MAY NOT BE REPRODUCED WITHOUT LICENCE!!DO NOT SCALE OFF THIS DRAWING!!ALL DIMENSIONS AND LEVELS ARE TO BE CHECKED ON SITE BY THE CONTRACTOR BEFORE COMMENCEMENT OF WORK AND ANY DISCREPANCIES REPORTED TO THE ARCHITECT!!NO RESPONSIBILITY CAN BE ACCEPTED FOR ERRORS ARISING ON SITE DUE TO UNAUTHORISED VARIATIONS FROM THE ARCHITECTS DRAWINGS.!!DRAWINGS ISSUED ELECTRONICALLY MAY LOSE SOME DETAIL.!!
AMENDMENTS
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JOB
TITLE
PRE-ISSUE
DRNG. NO.
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DRAWN BY REVIEWED
POYNTON•BRADBURY•WYNTER•COLE!Architects Limited!
ATLANTIC STUDIO,!TRELYON AVENUE, ST. IVES, CORNWALL. TR26 2AD!
Telephone: (01736) 792000!E-Mail: [email protected]!
www.pbwc.co.uk
revision reviewed
DESIGN RISKS FOR UNUSUAL OR COMPLEX HAZARDS.
Location Plan
3288(--)1001 *
1:1250@A1!1:2500@A3 June 14
260614/1033 TS AS
300200100500
SCALE IN METRES
Suitable for location plan @ 1:1250
St N
icolas
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14a
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164 8
Demayne
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Endcliff
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Former
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Seabank
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Kinbrae
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House
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The
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GyllyngvaseAvalon
Halwyn House
Hotel
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Bay View
Hotel
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Hotel Anacapri
Hotel St Michaels
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Sand Bay
PC
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The Anc
horag
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Harmony
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Treslothan Lodge 40
Bungalow
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Shelter
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Croft
The Cottage
Kaduna
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Queen
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Trelew
Falmouth Beach12 162 6
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Mary
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Mermaid
The Cottage
Tremor
Captain's House
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7.7m
11.2m
17.4m
6.4m
27.5m
13.1m
10.9m
6.1m
20.0m
5.6m
6.8m
10.7m
26.3m
26.9m
GYLLYNGVASE TERRACE
GYL
LYN
GVA
SE R
OAD
RO
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MELVILL ROAD
GYLLYN
GVASE H
ILL
STRACEY ROAD
BOSC
AWEN
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QUEEN
MAR
Y
MARY
CLIFF ROAD
COURT
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MELVILL LANE
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Tennis Courts
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Car Park
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en M
ary
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Sand and Shingle
Gyllyngvase Beach
Sand and Shingle
Mean L
ow W
ater
Rock
Mean High Water
Gyllyngvase Beach
Posts
Ordnance Survey, (c) Crown Copyright 2014. All rights reserved. Licence number 100022432
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PLANNING
St. Michael's !Spa + Wellness Resort!Falmouth
EXISTING
Falmouth Beach Land acquired by St Michaels Hotel & Spa in July 2013
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THE LINER
RESTAURANT AND RETAIL
THE CROFTST MICHAELS HOTEL
SPA WOODLAND LODGES
CAPTAINS HOUSE
THE COTTAGE
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???
St Michael’s Hotel and Spa has been in family ownership from 2001, during which time the hotel has undergone a major investment programme of c. £6 million & complete refurbishment. It has been transformed into one of the leading hotels in the South West.
It is set in beautiful sub-tropical gardens, gazing out to the ocean beyond. Facing south, it is situated opposite the Blue Flag Gyllyngvase Beach, gateway to over 400 miles of coastal footpath.
St Michaels is completely integrated into the local community with its successful Health Club, Spa, Restaurant and function space - all of which enjoy a strong local following.
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All of the interiors have been designed to reflect and amplify Falmouth and coastal Cornwall.
Cornish materials have been used throughout with local artists and photographers' work adorning the walls.
Nearly all of our food is sourced locally from ongoing relationships with farmers and fishermen.
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EXISTING SPA
St Michaels Spa was one of the first destination spas in Cornwall, and has developed a very strong local following with c 75% of all treatments to the local market.
Voted Cornwall’s Favourite Spa in 2013 and 2014 by the readers of Cornwall Today, the spa features a range of holistic, therapeutic and beauty treatments using organic, Cornish product houses and Espa.
PROPOSED SPA
Cost of conversion will be low because it will capitalise on the existing 14m pool, wet areas and existing built space.The new spa will include:
• 14m swimming pool, Hydrotherapy pool, 2 Steam Rooms, Ice Feature, Experience Showers, 2 Saunas with glass fronts facing out to sea, Heated Loungers, Sun Deck
• 7 Treatment Rooms and Manicure/Pedicure Beauty Room
• Reception and Retail Shop
• Changing Areas including large Ladies’ Powder Room
• Deep Relax, Light Relax, and Social Lounge Areas
• Exterior Spa Gardens and Sun Decks featuring two Hot Tubs, Finnish Sauna and Relaxation Areas
• Spa Café with Sea Views and Outside Lounging
• Wellness Walkway link to St Michaels Health Club
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ST MICHAELS HEALTH CLUB
St Michaels Health Club is one of the top private facilities in Cornwall featuring:
• A very large Gym with cardio, resistance and functional training areas with free weights
• An 80m2 Main Studio and Smaller Studio for Spin/Cycling. Over 50 classes are run per week
• Boot Camps, Personal Training, Beach Training
• Four Tennis Courts (on 15 year renewable lease from the Council)
• Joint use of 14 m Swimming Pool, Sauna, Steam, Jacuzzi, Sun Deck etc with the Spa
The Club has over 1200 regular members as well as day member revenue
RELOCATION TO THE CROFT
As part of the wider development, The Health Club will re-locate to The Croft building (former Falmouth Beach) & enjoy its own dedicated facilities in the future.
Conversion costs will be low as it will capitalise on all of the existing facilities of The Falmouth Beach Health Club which are currently closed but ready to re-open.
The NEW St Michaels Health Club will include:
• Existing 17m Swimming Pool, Children’s Pool, Spa area, Sauna, Steam Room, Experience Shower
• Existing ladies, gents, disabled changing rooms
• Existing Gym becomes home for Cardio and Resistance Gym
• Two Studios and further Gym created from re-fitting existing space • Existing 4 Tennis Courts plus Café • Health Club Reception and Juice Bar from existing space
• Wellness Walkway link to St Michaels Spa
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NEW ARRIVAL, REGATTA SUITE
Planning Consent has been approved for a new Resort entrance and arrival roadway opposite Gyllyngvase Beach. This will add a much greater sense of arrival.
All guests to the Resort will be welcomed at the new Reception and Arrival Lounge. There is parking for each bedroom and apartment with 102 spaces underground below The Liner - the remaining around the site.
The Regatta Function Suite will be extended significantly to provide dedicated and bespoke space for weddings, functions and conferences and will be able to accommodate up to 200 guests with a further 100 through linking with The Flying Fish Restaurant.
THE CROFT
The existing Croft building will be refurbished, re-skinned and additional bedrooms added.
It will contain the NEW St Michaels Health Club, as described, together with 38 St Michaels Hotel bedrooms and suites – all fitted out in a coastal style to a 4 star deluxe standard. Many will feature balconies and sea views.
NEW ARRIVAL FROM BEACH
EXISTING REGATTA SUITE
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THE LINER
The design for The Liner is founded on the area’s strong links with all types of ship and boat, and reflects Falmouth’s “Spirit of the Sea” brand strategy. Its strong and confident architecture will be iconic and place-shaping for Falmouth.
The Liner features 56 apartments - all with south facing sea views and generous balconies or patios - all of which have full residential consent. There are 7 larger penthouse apartments; 33 two bedroomed apartments ranging from 77 to 91 m2 and 16 one bedroomed apartments of c. 53m2. They have all been designed with flexibility in mind and two apartments can be merged into one larger unit. The specification and quality is high to reflect the AAA location.
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THE LINER
Underneath The Liner is underground secure parking for cars allowing one space per apartment and two each for the penthouses. There are also Surf/Beach stores for each apartment with lift access direct from the car park.
There is also a 330 m2 restaurant/bar, with substantial exterior patio space and retail space for a Delicatessen/General Stores.
It is envisaged that many of the Liner Apartments will be attractive investments which will then be let and managed by the hotel, including the offer of the full resort facilities.
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THE CAPTAINS HOUSE
The Captains House and Tremor in Stracey Road will be demolished to make way for The Captain’s Apartments, featuring 14 apartments with full residential consent. All are two bedroomed apartments, ranging in size from 81 m2 to 96m2. Many have balconies and sea views. Each apartment has allocated parking.
THE COTTAGE
The Cottage will also be demolished and replaced with three luxury, south facing, apartments, all with full residential consent. The three bedroomed penthouse over two floors with balconies and sea views is 146m2, whilst the other two apartments have two bedrooms and are 78m2.
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QUALITYSt Michaels, Falmouth is a strong brand with an excellent reputation across the South West region.
St Michaels Hotel & Spa has won many awards and accolades – particularly over the past 6 years. Some are shown here:
BUILDING THE BRAND
AA 2 Rosettes for our food
AA 4 Star since 2010
GREEN TOURISM AWARDGold
INVESTORS IN PEOPLE: Silver
CORNWALL TOURISM AWARDS Large Hotel of the Year 2009.
Winner of Winners 2009 Top 3 for Large Hotel of the Year 2010, 2011, 2012, 2014
SOUTH WEST TOURISM AWARDS: Large Hotel of the Year: 2014 Bronze, 2010 Silver
CORNWALL TODAY MAGAZINE: Best Spa 2013, 2014
MICHELIN GUIDE 2010 onwards
CONDÉ NAST JOHANSENS RecommendedBRONZE
Large Hotel of the Year
St Michael’s Hotel & Spa, Falmouth
Alistair Handyside Chair of Judges
Gold
Silver
Highly Commended * First year of ownership of Falmouth Beach and new land. EBITDA reduced through costs/ distraction of bringing on stream
1 - St Michaels Hotel & Spa only
Total Total Total Total Total Budget
2010/11 2011/12 2012/13 2013/14 2014/15 2015/16
Sales Revenue (£) 3,262,449 3,427,943 3,556,694 3,630,283 4,252,915 4,686,160
Gross Profit (£) 1,471,315 1,610,332 1,618,537 1,577,514 2,170,027 2,443,391
EBITDA (£) 708,422 818,502 829,494 734,430 1,020,779 1,258,365
Room Occupancy % *1 80.4% 82.7% 80.8% 80.8% 76.0% 81.8%
ARR (Average Room Rate(£) *1 £82.82 £82.13 £83.83 £84.36 £97.56 £101.43
Consolidated P & L St Michaels Hotel (& Falmouth Beach Hotel from 2013)
FINANCIAL PERFORMANCE
St Michaels Hotel & Spa - Quality Performance Jan - May 2015
Customer Quality Questionnaires Jan - May 2015Qualmark Independent Market Research
No. ofrespondents/Base
Very Satisfied/Satisfied
Neither Dissatisfied
Overall Satisfaction 789 93% 5% 2%
The way attended to at check in 759 97% 2% 1%
Knowledge & helpfulness of reception team 757 97% 3% 0%
Comfort of bed 643 95% 2% 3%
Cleanliness of rooms 775 98% 2% 0%
Quality & presentation of Dinner food 566 94% 3% 2%
Overall service at Dinner 742 96% 2% 2%
Quality of Breakfast food 574 95% 4% 2%
Quality of Spa treatments 249 96% 2% 2%
CONTACT
JLL Hotels & Hospitality jointly with Stephen Page and Partners are pleased to invite offers, subject to contract for the freehold interest in St Michaels Hotel and Spa, Falmouth and the entire development site, together with the benefits of the leasehold interest of the tennis courts.
The owners may consider proposals for elements of the scheme as part of this process.
A first round bid deadline will be set by JLL following the launch of this marketing process.
Full data room available to interested parties subject to a non-disclosure agreement.
Interested parties may contact JLL or Stephen Page to express their interest. However, no direct contact is to be made with management, hotel employees or the vendor. Inspections and meetings can be arranged upon request via the joint agents.
For more information on this resort opportunity, please contact:
Will DuffeyLondont: +44 (0)207 087 [email protected]
Michael EastonExetert: +44 (0)1392 429 [email protected]
John Kinsey ExeterT: +44 (0)1392 429 [email protected]
Adelle MooreExeterT: +44 (0)1392 429 [email protected]
Joint AgentStephen PageStephen Page & PartnersT: +44 (0)7767 842 [email protected]
EPC’s: EPC’s are available either upon request or within the data room
DisclaimerThe information in this brochure was prepared in June 2015. The vendor has mandated JLL Hotels & Hospitality Group (“JLL”) to prepare this Information Memorandum (Memorandum). The vendor and JLL give notice that:(i) the sale brochure is set out as a general outline only for the guidance of interested parties and constitute neither the whole nor part of an offer or contract;(ii) all descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details in this brochure are given in good faith and are believed to be correct, but any interested party should not rely on them as statements or representations of fact, but should satisfy themselves by searches, enquiries, surveys and inspection or otherwise as to the correctness of each of them;(iii) Neither the vendor, nor the joint agents has the obligation to update any information or to correct any inaccuracies therein or omissions there from which may become apparent; and (iv) no person acting on behalf of the vendor or the joint agents has the authority to make or give any representations or warranty whatever in relation to this engagement.
