New owner announced for Sidholme Hotel

Sidmouth's Sidholme Hotel has been sold to a company that plans to refurbish it.

Arsh Holdings has bought the Grade II listed hotel, well-known locally for its beautiful music room with its stunning chandeliers.

The hotel was put on the market last year for £1.9 million by its owners, Christian Guild, and in May a group of local residents launched a crowdfunding campaign to raise the money to buy it themselves.

They wanted to secure the use of the music room for local and regional performances, while turning the hotel into a hub for music and the arts.

But the campaign was called off in August, having raised £280,000 in donations and pledges.

Now the property company Savills has announced that it's completed the sale to Arsh Holdings.

Harriet Fuller, Associate in the hotels team at Savills Exeter, said: "This is an impressive building that is full of history and uniquely positioned near to the town and seafront, and we look forward to watching the hotel's next chapter with its new owners.

"Regional hotels, particularly in tourist locations, continue to perform well as we look forward to a summer out of lockdown."

Ali Rad, managing director of Arsh Holdings, said: "This property is a historical landmark which needs more attention to flourish and become a well-appointed hotel both for locals and visiting guests.

"We will strive to improve not only the appearance of the site but also the quality of service provided at the hotel."