12 bedroom hotel for sale

Quay Street, Newport, PO30

£749,950

Property Description

Commercial information

  • Business for sale

Full description

Tenure: Freehold

SUPERB 12 BEDROOM (ALL EN-SUITE) HOTEL
Recently refurbished 3 bedroom owners’ accommodation and garden
Advised annual turnover of £195,000 with exceptional profits
Sought after Harbour town on the Isle of Wight
Early viewing highly recommended
Scope for further development
Hotel dates back to 1642
Genuine reason for sale
FREEHOLD


Location

This fabulous 12 bedroom hotel with separate owners’ accommodation is located on one of the main streets in Newport, Isle of Wight, close to the popular Quay. Nearby are a wealth of thriving complimentary shops and businesses as well as some excellent schools and some of the best leisure facilities on the island. There is ample on street parking to the front of the property. The island famed for its sailing is approximately 380 square kilometres of which over a half is designated as an area of outstanding natural beauty. Its landscape has great diversity, with perhaps the most notable habitats being the soft cliffs and sea ledges, which are spectacular features as well as being very important for wildlife and are internationally protected. The Isle of Wight is an extreamly popular destination for holiday makers and tourists with 2.7 million visitors per year particually during the summer months. The island is easily asscesd with regular Ferry and Hovercraft services running from Southampton and Portsmouth, it has its own airport and runs its own bus and train services.


Business History

Meridian Business Sales are privileged to offer to the market this highly profitable hotel which has been established since 1642 and has been in the careful hands of our clients since 2010. The only reason this opportunity is being offered to the market is due to illness within our client’s family. During our clients stewardship they have undertaken a major programme of refurbishment and extended the premises meaning that the business is in full walk-in condition. Our clients advise us that the annual turnover is in the region of £195,000 with very high profits. The business enjoys an excellent reputation with local businesses many of which use the hotel as a place for their staff and visitors to stay as well as a high level of repeat bookings from tourists and holiday makers due to its friendly atmosphere and excellent breakfasts. Due to the superb location of the business and sizable lounge and dining room we believe that there is potential to increase profits even further by introducing evening meals or opening a restaurant for non residents. This is a rare opportunity to purchase a true lifestyle business in one of the most desirable areas of the UK and as such early viewing is strongly advised as businesses of this calibre rarely stay on the market for long.

Financial Profile

Turnover: £195,000pa


Tenure

We are advised freehold


Opening Hours

Trades all year round

Accommodation

Well presented and maintained Grade II listed property dating back to the 1600’s, briefly comprising of:

GROUND FLOOR

Secure entrance leading to:

Reception/welcoming area

Lounge with feature fireplace
Dining room with 18 covers

Kitchen

Laundry room

FIRST FLOOR

5x Double bedrooms with en-suites, 2 with four poster beds

2x Family rooms with en-suites

5x Single bedrooms with en-suites
Owners’ Accommodation

Lounge/dining room

Kitchen

2x Double bedrooms

1x Double bedroom with en-suite

Bathroom

EXTERNAL

Private garden

Storage sheds


Nearest station

  • Smallbrook Junction (6.1 mi)
Distances are straight line measurements

To view this property or request more details, contact:

Meridian Business Sales Ltd, Bolton

First Floor Office Suite, Nelson Mill, Gaskell Street, Bolton, BL1 2QE

0845 222 0508 Local call rate

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Disclaimer

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