Global property adviser Knight Frank has completed the sale of the internationally renowned Jamaica Inn, to The Coaching Inn Group, who purchased the property from Allen Jackson off a guide price of £8m.
This iconic 18th Century 36-bedroom coaching inn is known throughout the world and immortalised in Daphne du Maurier’s best-selling novel Jamaica Inn, was once owned by the thriller writer Alistair McLean, and is situated in ‘du Maurier’ country close to the author’s former homes.
Under Allen Jackson’s eight-year ownership the property received substantial investment and evolved into a thriving private leisure business with multiple income streams and generated circa £4m revenue in its most recent financial year.
Jamaica Inn was originally constructed around 1750, and consists of a restaurant, bar, farm shop and gift shop, as well as two museums dedicated to the history of smuggling and Daphne du Maurier. It is situated just off the A30, approximately 12 miles from the Devon/Cornwall border and 53 miles from Exeter. It is perfectly located as a base for guests to explore Cornwall and is equidistant between north and south coasts. The region is officially the favourite UK holiday destination since being voted number one in the British Travel Awards for the last eight years running.
Matthew Smith, Partner in the Hotel Agency team at Knight Frank, commented: “Having brokered the deal to Allen when he purchased Jamaica Inn eight years ago it is quite remarkable what has been achieved under his ownership. Such a transformation from a traditional 17-bedroom coaching inn to a highly profitable thriving 36-bedroom multifaceted business, whilst carefully preserving the 18th century parts of the Inn”
“The business also benefits from future value-add opportunities to include planning permission to construct a substantial 200+ single story circular function suite. Delighted to have introduced this opportunity to The Coaching Inn Group who will no doubt continue the growth of Jamaica Inn”