Wisbech landmark hotel sold for nearly £2m and is set to become residential accommodation

A purpose-built 42-bed hotel constructed in the 1980s has changed hands and will soon to be converted into residential accommodation.

Elme Hall Hotel in Wisbech has been sold for around £1.9million by commercial real estate specialists Colliers.

The hotel in Elme High Road is formed in two buildings. The main building, with its Georgian-style facade has eight guest bedrooms, a galleried ballroom with a capacity of up to 350 people, a bar and a restaurant.

The remainder of the 34 guest rooms are located in a two-storey detached block, which has in recent times been the subject of a planning application to become a house of multiple occupation.

However, the hotel has now been acquired by Danny Conetta, who intends to convert the hotel into rental accommodation. The previous owners have retired.

Danny said: “I am thrilled to be embarking on this fresh start for Elme Hall. I am dedicated to preserving its unique character while infusing it with a contemporary vision.

“I knew it was a fantastic opportunity that we couldn’t pass up. I’m planning to create a vibrant community of high quality rental accommodation for young professionals wanting to live in the area and support the local economy.”

Josh Sullivan, associate director in the hotels teamat Colliers added: “We garnered substantial interest from both existing operators and speculative developers in Elme Hall Hotel, the fact that the property has changed hands for an alternative use demonstrates the versatility of hotel assets and their inherent potential in the commercial real estate market.”