28 bedroom hotel for saleMostyn Broadway, Llandudno, Conwy (County of), LL30
- Business for sale
The Broadway is a highly successful and profitable commercial hotel which is located within North Wales' premier seaside resort of Llandudno, which attracts around 300,000 visitors annually. The hotel is traded with 28 refurbished en suite letting bedrooms most of which are accessed by passenger lift. There is a lovely dining room/restaurant with seating around 40 with a lounge bar and ground floor function room which could be developed in to a cosy restaurant should new owners prefer. Additionally, the hotel provides the owners a flexible choice of private living quarters dependent upon requirement, together with a private car park for five cars.
The hotel occupies a prime corner plot position within this premier coastal town. Llandudno was developed during the 19th Century and much of its Victorian heritage can still be seen today and is located just 10 minutes from the A55 Expressway which runs through North Wales. Among many of its attractions is the Victorian pier, beautiful walks around The Great Orme, unique tramway and evening entertainment at the nearby Venue Cymru (North Wales Theatre). Llandudno is a premier shopping centre, attracting visitors all-year round to its many high street stores, specialist shops as well as the fine selection of cafes, bars and restaurants.
The current owners acquired the hotel in 2006 and set about refurbishing the property to create a range of modern, comfortable en suite bedrooms, warm and welcoming public spaces and realigned the business model to prosper from the town's tourism and leisure markets. The Broadway is now a highly successful hotel business with strong forward bookings, yet could be developed further should new owners prefer, by converting the relatively under-utilised ground floor space in to a dedicated restaurant and bar. Due to present circumstances however, the current owners now wish to sell The Broadway Hotel to allow them to concentrate on other business interests.
The Broadway Hotel is set in to a substantial corner Victorian property with rendered elevations beneath a pitched slate roof. The bedroom accommodation is located to the first, second and third floor which are accessed by a four person passenger lift.
From the main entrance, steps lead up in to a beautiful Victoria porch leading in to the main hallway and reception area with reception counter and stairs providing access to the first floor. To the right of the reception is the lounge bar which seats around 18 with comfortable seating set around a traditional timber bar server. There is a picture bay window and WCs. The dining room/restaurant is set for around 38 although could provide more covers if required, with feature fireplace and bay window to the front. The passenger lift leads from here to the designated floors. To the lower ground floor is a function room/bar which has separate and private entrance to the main street and include modern ladies and gents WCs.
The hotel has 28 en suite letting bedrooms which comprise 15 doubles, 5 singles, 5 family and 3 twin rooms.
The rooms are decorated to a modern standard with flat screen TVs, coffee and tea making facilities and bathroom and shower facilities.
The current owners choose to utilise two rooms on the first floor which provides a lounge, en suite bathroom and bedroom. However, located on the top floor is the Vaughan Suite which is currently a family room but could be converted to providing a comfortable two bedroom owners' apartment including lounge, kitchen and private bathroom. If this were required, the first floor owners' accommodation could be then be used as one or two further letting bedrooms if required.
Located on the lower ground floor is a fully equipped commercial kitchen with still room, grill, extractor system, range cooker, fridge and freezers. There is a store room and plant room with two gas central heating boilers. On the ground floor is a service kitchen and still room.
To the front of the hotel is a terraced area which can accommodate outdoor seating for guests to enjoy. To the rear of the hotel is a five vehicle car park with locking gates.
Conwy Council at Llandudno (01492) 874005.
Mains water, drainage, electricity and gas are connected. The property has gas central heating and partially uPVC double glazed.
There is a full Premises Licence and PRS Licence for music.
Trading accounts provided by the clients' accountant for the period year ending 30 April 2016 shows (net) turnover of £271,229 providing an EBITDA in the region of £97,000 (after one off repairs and renewals, finance, depreciation, motor expenses and admin charge).
Further trading information can be made available to any seriously interested parties after viewing.
Offers of £575,000 are invited for the long leasehold to include goodwill and trade contents (according to inventory), excluding personal items. Stock at valuation.
The property is held on the remainder of a 99 year lease from Mostyn Estates with a ground rent of £2,000 per annum.
Colliers International is able to assist prospective purchasers by introducing sources of finance if required. Whilst we do not charge the buyer for this service, we may receive an introductory commission from the lender or broker involved.
All appointments to view MUST be made through the vendors' agents who are acting with sole selling rights.
Exit the A55 Expressway at junction 19 on to the A470 and follow the signs for Llandudno. Continue for approximately 3.5 miles in to the town centre and passing the retail park on the right hand side. Follow the road in to the town and The Broadway Hotel will be located prominently on the right hand side.
Energy Performance Certificates (EPCs)
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