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19 bedroom hotel for sale

Grange Hotel London Road Newark NG24 1RZ

£1,300,000

Property Description

Commercial information

  • Business for sale
  • Use class orders: C1 Hotels

Full description

Tenure: Freehold

With an attractive and imposing corner position on a wide leafy suburban road (the old A1), the Grange Hotel is a handsome property, well placed to benefit from the proximity of both Newark town centre and the nearby A1. Stepping
inside it is easy to see why the Grange Hotel is widely regarded as the premier hotel of the town. It has an elegant restaurant, well presented bar, residents' lounge and 19 very well appointed en suite letting bedrooms as well as a
pleasant outside terrace and gardens. Operating from two neighbouring properties, the Grange Hotel has developed an enviable reputation and succeeds in attracting a highly profitable accommodation led trade from both commercial and private business as well as local trade for which it enjoys the status of a special occasion venue.

Well located only a short distance from Newark town centre, in a leafy conservation Area, the Grange Hotel is also easily accessible from Newark Show Ground (internationally famous for its regular antique fairs, exhibitions and shows) and the nearby A1. A thriving and historic market town, Newark has a bustling commercial centre and an imposing 12th century castle, whilst on the periphery there has been much commercial development including a number of industrial and business parks with big name companies. Consequently the Grange Hotel benefits from strong midweek commercial bedroom trade as well as antique fair and general town business. Newark is also a convenient place to break a north/south journey on the A1.

The present owners acquired the Grange in 2000 and have skilfully improved the hotel, carrying out systematic refurbishment throughout. Substantially rewired and with the en suite facilities renewed the hotel is very well presented. Improvements have not been limited to inside the hotel; the hotel gardens have been landscaped resulting in both a Civic Trust Award and awards from the Newark in Bloom Garden competition for the best hotel garden and East Midlands in Bloom. Consequently the hotel attracts a discerning clientele a substantial proportion of which is repeat trade. Now after many years in the hotel industry, the owners wish to retire providing buyers with an opportunity to acquire a thriving and highly profitable business.

THE PROPERTY

The Grange Hotel comprises two neighbouring Victorian properties. The detached hotel has accommodation arranged on ground, first and second floors and a substantial semi-detached annexe provides accommodation arranged on lower ground, ground and first floors.

PUBLIC AREAS

Main front entrance leading into the attractive reception hall with the hotel reception straight ahead. To the left is the hotel restaurant, Cutlers, which is elegantly furnished and decorated and usually laid to seat around 40 diners. A
hallway leads from the hotel reception through to Potters, the hotel bar which is comfortably furnished and well presented with seating for around 30 with traditional bar counter and servery behind. French windows open onto an
outside stone flagged terrace complete with tables, parasols and bench seating. Rear entrance from the hotel car park, off which is the residents' lounge.


LETTING BEDROOMS

19 letting bedrooms to sleep 36 (14 double, 3 twin and 2 single). All the bedrooms are comfortably furnished with co-ordinated soft furnishings and have en suite facilities, 17 with bathroom/wc and shower over the bath and 2 with shower room/wc. All bedrooms have central heating, colour television, WiFi , direct dial telephone, trouser press, iron and ironing board, room safe and tea and coffee making facilities. 4 of the letting bedrooms are executive status rooms and include 2 four poster rooms. 10 of the letting bedrooms are located in the main hotel building and 9 in neighbouring number 71 London Road.


SERVICE AREAS

Well equipped commercial catering kitchen with cooking area, preparation area, wash-up and still room. Office, laundry room. Lower ground wine and beer cellar.

OUTSIDE

Entrance from Charles Street to hotel car park. At the rear of the hotel is a stone flagged terrace and lovely illuminated mature landscaped gardens interweaved with pathways and a central eye-catching water feature and interspersed with sheltered seating areas. Rear single garage and double garage with loft storage space.

SERVICES

Newark & Sherwood District Council - (01636) 650000
Mains gas, electricity, water and drainage. Gas-fired central heating.

LICENCES

Premises Licence.

2015 LISTINGS

EnjoyEngland 3 Star & Silver Award
EnjoyEngland Breakfast Award
Trip Advisor Certificate of Excellence and Service Award

WEBSITE

www.grangenewark.co.uk

TRADE

The trading and profit & loss account for the year ended 31 March 2015 shows £168,725 trading profits (before depreciation, finance and owners’ remuneration) on turnover £385,956 net of VAT. This is a high quality rooms led business with accommodation comprising 68% of net turnover, leading to high profits. The full turnover split is as follows:

Restaurants Meals £61,363
Bar Meals £7,243
Sundry Food £14,151
Beverages £37,306
Accommodation £265,181
Other Sales £712
Total £385,956

The owners report that trade is substantially up so far this year and for the full year to March 2016 they are forecasting £186,000 trading profits on net turnover £425,800.

PRICE

£1.3m for the freehold complete with goodwill and trade contents (according to inventory), excluding personal items. Stock at valuation.

OPTIONAL EXTRA - HOUSE AT 100 CHARLES STREET, NEWARK

Also available, subject to separate negotiation, is the owners’ house next door on Charles Street. This is a semi-detached property with kitchen, dining room and lounge on the ground floor and two double bedrooms and a single
bedroom and bathroom/wc on the first floor. Rear timber decked terrace and secluded garden.

FINANCE

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.

TO VIEW

All appointments to view MUST be made through the vendors‘ agents who are acting with sole selling rights.


Energy Performance Certificates (EPCs)

Map & Street View

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