Hogan Associates today announced the November 16, 2023 sale of The Burbankrose Guesthouse at 111 Memorial Boulevard West in Newport.
The prominent 1780-built property, which was most recently used as an established guesthouse, sold for $1,475,000.
Tom Rao of Hogan Associates | Christie’s International Real Estate represented the Seller, according to Hogan Associates. The buyer was not identified.
According to Hogan Associates, The BurbankRose Guesthouse “epitomizes Newport’s timeless charm, strategically located at the corner of Thames Street and Memorial Boulevard. Positioned within a General Business Zone, the property offers diverse income opportunities, spanning hospitality, retail, office space, and bed & breakfast operations. Owned and operated by Brian Cole, as a live-in guesthouse for the last 22 years, the property features a single-dwelling unit and a 5-bedroom guesthouse with well-appointed kitchens”.
The Burbankrose Guesthouse presents a unique investment opportunity in Newport’s iconic coastal community, according to Hogan Associates.
“This notable transaction stands out as one of the most rewarding challenges I have faced in several years,” said Tom Rao from Hogan Associates | Christie’s International Real Estate in a statement. “I was thrilled to play a role in the successful sale of this iconic Newport establishment and join Brian’s many friends in wishing him well on his future adventures.”
