£550,000 23 bedroom hotel for sale Ablemarle Hotel Albemarle Crescent, Scarborough, YO11

Tenure: Freehold

Location
The Albemarle Hotel is located in a prominent and highly desirable, corner site trading position on Albemarle Crescent, close to the centre of the thriving seaside town of Scarborough within North Yorkshire. This freehold hotel business occupies substantial five-storey premises with an attractive wide frontage and ample car parking facilities in the vicinity. It is within walking distance of all the town centre venues and amenities, as well as the railway station, beach and famous Spa Complex. Scarborough is a haven for visitors and tourists all year round with an abundance of award winning attractions in close proximity, including two splendid bays, an ancient castle, sandy beaches, harbour, magnificent gardens and charming Victorian cliff lifts. The hotel is also an ideal base for exploring the Heritage Coastline as well as the stunning scenery of the North Yorkshire Moors. The area is easily accessible less than one hours drive from either York, Whitby or Bridlington.

Business History
Preferred Commercial is delighted to offer for sale this desirable freehold hotel business in such a prime trading location, close to the centre of Scarborough. The Albemarle Hotel has been established for over eighty years and has incorporated two hotels, which have been tastefully integrated to form an impressive 23-bedroom establishment. There are spacious public areas with a ground floor fully-fitted Lounge Bar, as well as a 66-cover dining area on the lower ground floor, adjacent to an extensive commercial kitchen and preparation rooms. Currently the business is operated at a restricted pace to suit our client, achieving an annual turnover of £62,000 on a bed and breakfast only basis. There is immense potential to develop the catering side of the business with the introduction of evening meals or a full restaurant. In addition, the bar is not currently operational and offers further scope to increase turnover. Due to the size of the hotel, and being so accessible to the town centre, there will certainly be demand in the area for a more versatile establishment. Planning permission had been granted to convert the premises into 10 self-contained flats, although this has now lapsed. Out client advises us that they have approached the council and that they would look favourably on resubmission. This is a unique opportunity to purchase such a impressive freehold property offering genuine potential for the future. Early discussions with Preferred Commercial must come highly recommended.

Financial Details
T/O: £62,000 approx.
GP: TBA.

Opening Hours
Open all year round

Accommodation Details
23-bedroom hotel within substantial five-storey property, on a prominent corner. Briefly comprising:

Ground Floor
• Main entrance
• Hallway
• Lounge Bar complete with feature bay windows, various armchairs and sofas, fitted servery bar, 2 points of dispense, electronic cash register, integral chiller units and hand sink.
• Room 1: double bedroom with en-suite shower room, WC and basin.
• Room 1a: single bedroom.
• WC and basin.
• Secondary front entrance and doorway.
• Room 15a: double and single beds with basin.
• Room 15: double bedroom with basin.
• Room 14: double bedroom with basin.dispense.
• Commercial Kitchen with tiled flooring, 6-burner range and ovens.
• Preparation/Utility Area.
• Office.

First Floor
• WC and basin.
• WC and basin.
• Room 2: double bedroom with en-suite shower room, WC and basin.
• Room 3: family bedroom with double and 2 x single beds and basin.
• Room 4: single bedroom with basin.
• Linen store.
• Room 17: double bedroom with basin.
• Room 16: double and single beds with en-suite shower room, WC and basin.
• Room 18: family bedroom with double and 2 x single beds and basin.
• Shower room, WC and basin.
• Bathroom, bath, WC and basin.
• 2 x Linen stores.