Fragrance Group’s newly incorporated subsidiary, Fragrance UK-Torquay, has acquired the 141-bed The Palace Hotel, located in Torquay in Devon, the UK, for £7.6 million ($13.6 million).

According to Fragrance Group, The Palace Hotel is one of the most prestigious in Torquay. Situated near the centre of the seaside town of Torquay, with views of Anstey’s Cove and Lyme Bay, the property is located on 80,532 sq m of garden and woodland. The hotel’s facilities include conference and event space for up to 1,000 delegates, a nine-hole golf course and two swimming pools.

Fragrance UK-Torquay will be primarily engaged in the activity of a property investment holding company, says Fragrance Group. The unit has an initial paid-up capital of £1 million.

Source: The Palace Hotel