The founder of the Dreams bedroom stores is to put his luxury hotel ventures up for sale. Solent Forts and Ackergill Tower have been put up for sale for a combined £14.9 million price tag. The bundle includes four former military forts which have been turned in to residencies.
The Solent Forts are located in the stretch of water between the Isle of Wight and Portsmouth. The collection consists of No Man’s Fort, Spitbank Fort and Horse Sand Fort. Combined, these properties are said to yield a turnover of £4 million.
The forts date back more than 150 years and were erected by then British Prime Minister, Lord Henry Palmerston. The purpose of the forts was originally to protect Britain from the potential of a French invasion led by Napolean III. They then went on the be used in the First and Second World Wars to house soldiers. A reported £8 million has been invested by owner Mike Clare to refurbish the three properties.
Ackergill Tower is the last property on the list and has been priced separately and within the bundle. Located near Wick in the Scottish Highlands, the tower boasts a coast line of its own. The property is set on a 30 acre piece of land and holds 17-bedrooms. The tower was built in 1475 and was extended by Scottish architect David Bryce in the mid-19th Century.
The package represents the sale of the remaining properties in the Amazing Venues catalogue. Chief executive of Clarenco and Amazing Venues, Suzanne Hurndall, said that after renovating the unique properties, Clare was now ready to hand them over to a hotelier to take them forward. She added
“He has had a lot of fun with them and is now ready to sell.”
Property agents, Knight Frank, are handling the sale and have stated the £14.9 million price tag with considerations of £11 million offers for Solent Forts and £3.9 million offers for Ackergill Tower. Henry Jackson, partner at Knight Frank, added:
“Both Solent Forts and Ackergill Tower, each one unique, will provide an incoming purchaser with the exciting opportunity and privilege to own property with such exceptional heritage and history. There is considerable potential for an incoming purchaser to build on Mr Clare’s hard work and legacy. These businesses are yet to mature and there is significant scope for growth and development of these enterprises going forward.”