FRAGRANCE GROUP ACQUIRES SECOND UK PROPERTY IN TORQUAY
Singapore-based Fragrance Group has purchased the 141-room Palace Hotel in the seaside resort of Torquay, southwest England, from The Torquay Palace Ltd. The price of the transaction was not disclosed but the hotel was on the market with a guide price of more than £10 million. The 141-room hotel is within 17 acres of grounds and overlooks Ansley Cove and Lyme Bay. Additionally, planning permission has been granted to construct 137 apartments in the grounds of the hotel and extend the property with further guest rooms and a spa. This is Fragrance Group’s second purchase in the UK following its recent acquisition of the Imperial Hotel in Blackpool in February 2017.