Hotel for sale

Rivercroft Hotel, Station Road, East Looe

£850,000

Property Description

Full description

A well appointed Hotel, Restaurant and Bar overlooking Looe River. With 11 guest rooms, 4 self-contained letting apartments and private 3 bedroom owners accommodation with garden and parking. Retirement sale after nearly 40 years. Strong and consistent turnover and profits. Viewing recommended.

WELL APPOINTED HOTEL OVERLOOKING LOOE RIVER
11 EN SUITE GUEST ROOMS
4 SELF-CONTAINED LETTING APARTMENTS
PUBLIC/RESIDENTS BAR AND 46 COVER RESTAURANT
PRIVATE 3 BEDROOMED OWNERS ACCOMMODATION
GENUINE RETIREMENT SALE
EPC ASSET RATING D

Location - The Rivercroft Hotel enjoys a prominent position above Looe River, is adjacent to several car parks and enjoys a high level of pedestrian and vehicular traffic. The towns of East and West Looe are connected by a bridge, which is only a short distance away and the Hotel enjoys close walking proximity to this charming East Cornish Town. Looe has a fishing community, alongside pleasure craft and is very popular with visitors all year round coming to enjoy the quaint meandering streets, restaurants and bars and the beaches.

Looe is also home to an annual music and Arts Festival, which is extremely popular. As a location, Looe enjoys good access to the South Cornish Coast and of course a number of beaches and attractions.

Business - Our clients have successfully run the Rivercroft Hotel, expanding it over their circa forty years, and who are now selling due to retirement plans. On the first and second floors are the 11 letting rooms, which are all en suite and many with superb river views and similarly on the first and second floors to the right hand side of the property are the four self-contained double/twin bedroomed units, with balconies, again overlooking Looe River.

In addition to the letting accommodation is the public bar, which can be used by guests and non-residents and a well equipped commercial kitchen with service areas and well appointed dining room, which is used by the guests and also for functions etc. The business demonstrates very consistent turnover and for the year end March 2015, the business produced combined sales of £314,310 (being circa 9% up on the previous year), which produced a gross profit level of 66% and an adjusted net profit of £96,348 (after deducting all normal overheads).

Further accounting information will be made available subject to viewing in the normal manner. Further information regarding our clients business please refer to their website www.rivercrofthotel.co.uk.

Entrance Lobby - With reception desk and doors off to bar and dining areas and ladies and gents wcs. Through to:-

Bar/Lounge - 10.4m x 5.82m (34'1" x 19'1") - With 3 windows to the front elevation, with views over Looe towards Millpool. Built in wooden bar/servery, with Epos system linked to the kitchen and with 8 taps for dispensing of liquor. From lobby through to:-

Principal Dining Room - 12.49m x 7.50m (41'0" x 24'7") - (overall dimension, loosely divided into 3 areas comprising former bar, seating and dining). 6 windows to the front elevation with far reaching views, wooden floor, feature fireplace and tables and chairs for circa 46 covers. This is an attractive room which is used for the guests dining, non-residents and functions. Through to:-

Commercial Kitchen - 4.44m x 4.42m (14'7" x 14'6") - With 6 ring gas cooker, extraction system over, commercial microwaves, walk-in freezer, upright fridge, hotplate etc. through to:-

Dry Store/Pantry Area -

Laundry Room - With 2 commercial washers and 2 commercial dryers.

Rear Store - With stainless steel drainer unit, chest freezer, rumbler and chipper. There is also a walk in spirit store.

Schedule Of Letting Accommodation - (all areas and dimensions are approximate)

NB: All rooms with en-suite shower and tea and coffee, TV etc.

Guest Letting Bedrooms -

First Floor -

Room 3 - Superior/Double, 2 windows to front elevation with far reaching views.

Room 4 - Double, window to front elevation with far reaching views.

Room 5 - Double, window to front elevation with far reaching views.

Room 6 - Double, window to side elevation.

Room 7 - Single, walk in shower, window to rear elevation.

Second Floor -

Room 10 - Double, window to side elevation.

Room 11 - Family, window to front, with far reaching views.

Room 12 - Double, window to front elevation with far reaching views.

Room 14 - Family, window to front elevation with far reaching views.

Room 15 - Double, window to side elevation.

Room 16 - Twin, window to rear elevation.

Spare Shower Room - Walk in shower.

Letting Apartments -

First Floor -

Room 1 - 5.44m x 3.05m (17'10" x 10'0") - Lounge/kitchen/diner with patio doors leading to large balcony with far reaching views. Twin/Double bedroom with window to front elevation.

Bathroom - Bathroom with shower over, low level wc and pedestal wash hand basin.

Room 2 - 5.38m x 3.15m (17'8" x 10'4") - Lounge/kitchen/diner with patio doors leading to large balcony with far reaching views. Double bedroom with window to front elevation.

Bathroom - Bathroom with shower over, low level wc and pedestal wash hand basin.

Second Floor -

Room 8 - 5.44m x 3.05m (17'10" x 10'0") - Lounge/kitchen/diner with patio doors leading to a balcony with far reaching views. Double bedroom with window to front elevation.

Bathroom - Bathroom with shower over, low level wc and pedestal wash hand basin.

Room 9 - 5.11m x 3.20m (16'9" x 10'6") - Lounge/kitchen/diner with windows to the front elevation. Twin/Double bedroom with patio doors to balcony.

Bathroom - Bathroom with shower over, low level wc and pedestal wash hand basin.

Owners Accommodation - Accessed via an external staircase from the rear or internally through the hotel.

Kitchen - 3.36m x 2.43m (11'0" x 8'0") - Window to side elevation, well equipped domestic kitchen.

Lounge - 5.97m x 5.74m (19'7" x 18'10") - Impressive room with window to the front and side elevations overlooking Looe and Millpool.

Stairs ascending to the first floor:-

Bathroom - Bath with shower, low level WC and wash hand basin. Window to rear.

Bedroom 1 - Impressive room with 2 windows to the front elevation leading to a balcony. Built in wardrobes.

Stairs ascending to the:-

Second Floor -

Bedroom 2 - Double, window to front elevation.

Bedroom 3 - Double, window to front elevation, built in wardrobe.

Shower Room - With window to rear elevation, low level wc and pedestal wash hand basin.

Outside - To the rear of the property accessed via the hotel or a gate on a road abutting the property, a useful space for several flower beds, greenhouse and small poly tunnel, also space for sitting out.

To the front of the hotel are 3 terraces providing tables and chairs for 30 to 40 persons. On the lower ground floor level is access to the cellar and with 2 stores.

From the street level is access to the single garage, with power and light connected, with a flight of steps leading to a first floor store/workshop.

Tenure - Freehold

General Information -

Premises Licence - We understand the business currently holds a relevant Premises Licence in respect of the sale of intoxicating liquor on and off the premises.

Epc - D

PLANS: Plans and maps reproduced under Ordnance Survey Licence No LIG1179. Not to scale and for identification of the property only. They are not intended to show actual site boundaries and not guaranteed to be accurate.

AGENTS NOTE: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] Any intending purchaser or tenant must satisfy him/herself by inspection or other wise as to the correctness of each of the statements contained in these particulars; [c] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [d] None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent.

Miller Commercial is the trading name of Miller Commercial LLP registered in England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial LLP is Mansion House, Princes Street, Truro TR1 2RF. We use the term Partner to refer to a member of Miller Commercial LLP. VAT Registration No.643 4519 39.

VIEWING: Strictly by prior appointment through Miller Commercial.


More information from this agent

Energy Performance Certificates (EPCs)

Nearest stations

  • Looe (0.2 mi)
  • Sandplace (2.1 mi)
  • Causeland (3.4 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Miller Commercial, Truro

Mansion House Princes Street, Truro, TR1 2RF

01872 490012 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Looe (0.2 mi)
  • Sandplace (2.1 mi)
  • Causeland (3.4 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Miller Commercial, Truro

Mansion House Princes Street, Truro, TR1 2RF

01872 490012 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 26559749. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Miller Commercial, Truro. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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