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AC240 -Freehold Nineteen Bedroom Hotel with Dining Room and Public Bar

Asking Price: GBP 1250000
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Business Location: United Kingdom » Others » Hull 
Category: Leisure » Hotels & Holiday Accommodation
Description:
Freehold Nineteen Bedroom Hotel with Dining Room and Public Bar
Ref.AC240
Location Hull
Asking Price £1,250,000
This is an exceptional investment opportunity for new owners to take a recently opened hotel, restaurant and well established bar and maximise the potential that this business offers.

The bar was established in 1982 and is located just 5 minutes from the centre of Hull on one of the busiest roads leading into the city. It is also just minutes away from the main football/rugby stadium and on match days benefits from a huge amount of passing footfall.

The owner after receiving local authority permits in 2008, decided to convert the building into a hotel with nineteen rooms all having undergone a major refurbishment. They are attracting both tradesmen and travellers during the week and are dealing with the budget end of the market. All rooms are en-suite and the hotel is central heated.

On the ground floor there is a main public bar which is fully licensed until 4.00am although the bar tends to close earlier during the week and stays open until 2.00am on Fridays and Saturdays. There are two extra rooms adjoining the main bar area, one which is used as a breakfast room and the other room can be used for private functions with its own separate bar area. This is used as a dining room area at present but could be converted into a restaurant area for the public if new owners wished as there is a fully equipped and functional professional kitchen.

The hotel and bar provides a well priced “no frills” evening meal menu to its residents and has recently introduced a Sunday Lunch menu to the general public with great success. There is an all day snack menu available to the general public with sandwiches, burgers, chips etc on offer.
Financial Information:  
Annual gross sales: (GBP) N/A
Yearly Revenue: (GBP)
Total yearly sales revenue		 300000
Net Profit: (GBP)
Total profit before taxes		 N/A
General Information:  
Business Area: N.A.
Year Established: 1982
Is Relocatable?:
 No
Business closed or an asset sale : No
Is Home based business?: No
Real estate status: Yes
Number of Employees: 12
No of trading hours: N.A.
Reasons for selling:
 The owner and his wife have had 27 happy years building up and running the business. They now believe it is time to retire and let someone take the business to the next level.
Market competition and expansion:
 The hotel has its own website and has spent money to maximise themselves on the Google search engine. They also benefit from their prominent main road location with new residents coming from word of mouth recommendation.
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