14 bedroom hotel for sale

Tenure: Freehold

Location
The Riverside Hotel occupies a prominent landmark position adjacent to the main bridge over the river in the charming village and fishing port of Boscastle, North Cornwall. The village is popular with tourists, who flock to the harbour and its picturesque surroundings. The hotel is surrounded by many complementary shops and business along with attractions such as the famous Museum of Witchcraft and the Boscastle Pottery Shop. The village is easily accesses via the B3263, which joins with the A39. Boscastle lies approximately 5 miles northeast of Tintagel and 14 miles south of Bude.

Business History
Preferred Commercial is delighted to offer for sale this old established hotel which dates back to around 1584 and which has been in our client's careful hands since 2001. The business is only now being placed on the market due to our client's wish to retire. The Riverside Hotel offers 5-star silver accommodation, evening meals and afternoon tea to the general public and generates a turnover in the region of £640,000 per annum with a gross profit of 69%. The hotel offers 14-bedrooms each finished to a very high standard and offering en-suite facilities, large flat screen TVs and WiFi access. Along with the dining room and restaurant, The Riverside Hotel boasts a 90 cover terrace which is extremely busy in the summer months with tourists sampling their famous Cornish Cream Teas. There is also a quality web site in place with information about the services offered and room availability. The current owner does not live on site and employ managers to run the hotel. A new owner, with a hands-on approach could increase the already impressive turnover even further. We feel this represents a unique opportunity to acquire a thriving well-established hotel and restaurant business in what has to be one of the most beautiful areas of Cornwall. Early discussions with Preferred Commercial must come highly recommended.

Financial Details
T/O: £640,000 approx.
GP: 69%

Opening Hours
All year round 7.00am - 11.00pm

Accommodation Details
Imposing 3-storey stone built premises dating back to 1584, situated at the side of the river Valency. Briefly comprising:

Ground Floor
• Large dining room with exposed stone walls and slate floor, tables and chairs for 24 covers
• Bar with wooden bar servery, slate floor, tables and chairs
• Restaurant with river view, slate floor and tables and chairs for 28 covers
• Commercial kitchen, recently refitted, 2 x 6-burner gas hobs, griddle, oven, microwave oven, double fryer, refrigerators and freezers and extraction system
• Preparation room with a range of work surfaces and equipment
• Laundry with 2 x washing machines and 2 x tumble dryers
• Owners' lounge with feature fireplace, multi-fuel stove and slate hearth

First Floor
• Room 1: Double bedroom with en-suite bathroom
• Room 2: Family bedroom with en-suite bathroom
• Room 3: Double bedroom with en-suite shower room
• Room 4: Single bedroom with en-suite shower room
• Room 5: Double bedroom with en-suite bathroom
• Room 6: Double bedroom with en-suite bathroom
• Room 7: Twin bedroom with en-suite bathroom

Second Floor
• Room 8: Manager's or owner's suite with sitting room, double bedroom with en-suite shower room
• Room 9: Double bedroom with en-suite shower room
• Room 10: Family bedroom with en-suite shower room
• Room 11: Double bedroom with en-suite bathroom
• Room 12: Single bedroom with en-suite shower room
• Room 14: Family bedroom with en-suite bathroom
• Room 15: Family bedroom with en-suite shower room

External
• Rear dining terrace overlooking the river Valency and offering 90 covers

Tenure
Advised freehold