South African private equity fund buys second Cornish hotel

UK: The Rosevine, near Portscatho in Cornwall, has been bought by Fairtree Hospitality Private Equity Fund.

It is the second acquisition in the UK hospitality market by the South African investor, which bought The Old Quay House in Fowey last year for £1.9 million.

The equity fund also owns Camp Figtree Safari Lodge at Addo National Elephant Park, Villa Paradisa, Knysna, Oxford House, Cape Town, Banhoek Lodge, Stellenbosch and San Lameer Golf Resort Hotel & Spa, near Southbroom in South Africa.

The Rosevine will be managed by Providence Hospitality, which has a newly-appointed regional manager, Martin Nicholas.

Joe Bester, fund manager of the Fairtree Hospitality Private Equity Fund said: “We made our first move into the UK hospitality market last autumn and couldn’t be happier to be focusing our investments on Cornwall, and continue to look for special properties such as this. The Rosevine offers a unique combination of self-catering and hotel facilities where families or couples can enjoy a luxury seaside holiday in a relaxed yet upmarket environment. It is also the setting for some of the most stunning weddings that we have encountered! We are incredibly excited to foster the atmosphere and bespoke service Tim and Hazel have created and continue to enhance the experience of our guests.”

The part-Georgian property is located in two acres of wooded grounds, and overlooks the sea towards the village of Portscatho. It had been owned by vendors Hazel and Tim Brocklebank since 2007. They completely refurbished the property in 2008.

The Brocklebanks said: “The Rosevine has been a big part of our lives. It was not hard to fall in love with this gorgeous part of the Roseland coast, and this wonderful view. Since opening in 2008 we have welcomed lots of lovely people to stay, and have been truly touched by such a positive response. We would like to say a huge thank you to all our guests, and especially to our staff who have worked so hard alongside us. As a family, we are looking forward to taking some time off with our children this summer, and to some new projects in future months.”

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