A coastal hotel and wedding venue on the Roseland Peninsula has been purchased by a South African private equity fund.

The Rosevine, near Portscatho, is the second acquisition in the UK hospitality market by the Fairtree Hospitality Private Equity Fund. The group purchased Fowey boutique hotel, The Old Quay House last September.

The property will be managed by Providence Hospitality under the direction of newly-appointed regional manager, Martin Nicholas. All hotel employees will remain in their current positions. To ensure a smooth transition for both guests and staff there will be a period of handover between the new and old owners.

Joe Bester, fund manager of the Fairtree Hospitality Private Equity Fund said, “We made our first move into the UK hospitality market last autumn and couldn’t be happier to be focusing our investments on Cornwall, and continue to look for special properties such as this.

“The Rosevine offers a unique combination of self-catering and hotel facilities where families or couples can enjoy a luxury seaside holiday in a relaxed yet upmarket environment. It is also the setting for some of the most stunning weddings that we have encountered. We are incredibly excited to foster the atmosphere and bespoke service Tim and Hazel have created and continue to enhance the experience of our guests.”

A hotel for many years, The Rosevine was bought by Hazel and Tim Brocklebank in 2007 and re-launched as a new accommodation and wedding venue offering in spring 2008 following a complete redesign and refurbishment.

Hazel and Tim said: “The Rosevine has been a big part of our lives. It was not hard to fall in love with this gorgeous part of the Roseland coast, and this wonderful view. Since opening in 2008 we have welcomed lots of lovely people to stay, and have been truly touched by such a positive response. We would like to say a huge thank you to all our guests, and especially to our staff who have worked so hard alongside us.

“We wish Joe Bester and the new team much success going forwards with The Rosevine, and we will watch with interest. As a family, we are looking forward to taking some time off with our children this summer, and to some new projects in future months.”