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Hotel for sale

The Avenue, Minehead, Somerset, TA24

£745,000

Property Description

Full description

Tenure: Freehold

LOCATION
The property is located in a prime tourist trading position within 100 yards of Minehead's seafront and close to the popular West Somerset Railway. The hotel is in an ideal position for passing trade and for those visiting Somerset and Exmoor. The resort of Minehead is Somerset's premier tourist destination, with a population of approximately 8,000 inhabitants, boosted considerably with an influx of tourists staying in the resort and the popular Butlin's holiday centre. There are excellent retail shops including three supermarkets, Tesco's, Morrison's and Lidl’s which is now under construction.

We strongly recommend a viewing of this highly profitable business to avoid disappointment.

THE PROPERTY
This property has only been on the market, twice in the last 38 years. It is now available due to genuine retirement. The property comprises of a substantial 20 en-suite letting bedroom hotel, with large ground floor public rooms including restaurant, large forecourt tea garden and rear private car park. The property also has the valuable benefit of a four bedroom ground floor owner's apartment. The hotel is set in a conservation area and benefits from double glazing with the exception of the restaurant and the original Victorian stained glass windows around the front door and staircase. The hotel has been awarded a 5 star food hygiene certificate. The hot water boiler system was replaced in May 2013 and the central heating boiler replaced in March 2015.

THE BUSINESS
Under the personal supervision of a husband and wife team, with family, the business opens off a 9 month season, closing partially in the quieter period during November and December and closing fully in January and February. The hotel turnover is in the region of £217,742 per annum for the year ending 31st March 2017, with 85% from letting accommodation and 15% from wet sales and food. There is further scale to develop the business in the winter months especially over the Christmas program period. It is envisaged that the likely Hinkley power station development has the possibility of enhancing trade in the area, with commercial lettings a real possibility. Trade has recently been improved by advertising on Booking.com and Laterooms.com. The business will be offered comprehensively equipped as a going concern, subject to a trade inventory. Staffing comprises of main family involvement, four part time staff, and a chef during the busy period. The property has been well looked after by our clients, who acquired the property through Webbers Commercial approximately 20 years ago. During this period they have continued an on-going program of improvements, including an extension to the rear.

The accommodation briefly comprises:


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