67 bedroom hotel for sale

Palace Terrace, Isle Of Man, IM2

£1,950,000

Property Description

Commercial information

  • Business for sale

Full description

Tenure: Freehold

LOCATION
The Trevelyan Hotel occupies substantial seven storey premises, ideally located within the town of Douglas on the Isle of Man. The hotel is located on Palace Terrace, overlooking Queens Promenade and is surrounded by a wealth of complementary businesses, therefore benefiting from a very high volume of footfall and passing trade. The business further benefits from good car parking facilities to the front of the premises.

Douglas is the capital and largest town of the Isle of Man. It is located at the mouth of the River Douglas, and on a sweeping bay of two miles. The town serves as the main hub for business, finance, legal services, shipping, transport, shopping and entertainment. The annual Isle of Man TT Races start and finish in Douglas.

Douglas Promenade features the world's oldest horse drawn trams. The town is also home to the Gaiety Theatre and the splendid buildings and gardens of Villa Marina, both of which present an all year round programme of entertainment, theatre, film, art and music. Douglas is a very popular tourist destination and boasts a wide variety of events and leisure activities, such as 9 challenging golf courses.

The area of the hotel is very well served by the public transport system, with bus stops within easy walking distance of the property. The area is also well served by the A-roads, with the A2 being just a short drive away, which links to the islands A-road network. Isle of Man Airport is just over 10 miles away.

BUSINESS
Hilton Smythe is delighted to welcome to the market this well-established and very popular hotel business, which is ideally located in Douglas, Isle of Man.

The business was established by our clients in 1988 and is only now being offered to the market due to our clients' unfortunate health problems and desire for a well-deserved retirement. The business operates all year round with a 24/7 bar licence and generates a turnover in the region of 250,000 per annum, with a gross profit of approximately 60%.

Our clients offer 67 guest bedrooms on a bed and breakfast only basis. There are a variety of comfortable en-suite rooms and rooms with private bathrooms to suit both business and leisure travellers to the island. Standard bedrooms feature a desk, bed linen and ironing facilities upon request. Basic rooms include bed linen and ironing facilities upon request. Some also benefit from a private bathroom with free toiletries.

Our clients also offer a full selection of breakfasts, from cereal to English breakfasts. Guests with special dietary requirements can also be catered for. The ground floor of the property offers a spacious reception area. The property is very well maintained, decorated to a very high standard and extremely well fitted out to suit the trade.

The business has built up an excellent reputation within the area for the very high quality of the accommodation and services offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.

We feel there is scope to increase the turnover by embarking on a modest marketing campaign, to highlight the accommodation offered. A new owner could also introduce evening meals for the guests and maybe the general public. The business already has a very informative website in place to promote the business at www.trevelyanhotel.co.uk, which incorporates online booking facilities.

This is an excellent opportunity for a new owner, perhaps a husband and wife team or partnership, to take this already thriving business to the next level, therefore, early viewing must come highly recommended to avoid disappointment.

PREMISES
Substantial four storey premises in an ideal trading location, briefly comprising:

Ground floor:

Main doors into hallway and reception.
To the left is a large bar area with main bar and seating for approximately 50 persons and a pool table.
Door to main dining room, which boasts 80 covers.
Ladies and gents' WCs.
Large kitchen with walk-in chiller unit, storage area and preparation area.
Elevator next to reception servicing all four floors.

First floor:

14 x bedrooms (13 of which are en-suite and 1 standard).
WC and shower room at the end of corridor.

Second floor:

15 x bedrooms (10 of which are en-suite and 5 standard).
5 x WCs and 2 x shower rooms.

Third floor:

17 x bedrooms (11 of which are en-suite and 6 standard).
Bathroom.
WC and shower room.

Fourth floor:

21 x bedrooms (8 of which are en-suite and 13 standard).
2 x WCs.
Shower room.

Attic:

2 x large bedrooms.

TENURE
We are advised Freehold.

HOURS
The business operates all year round.

STAFF
The business is owner run and managed with 5 x full time staff members.

FINANCIAL PROFILE
The business generates a turnover in the region of 250,000 per annum, with a gross profit of approximately 60%.


Listing History

Added on Rightmove:
28 September 2016

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To view this property or request more details, contact:

Hilton Smythe, Bolton

20 Wood Street, Bolton, BL1 1DY

01204 299139 Local call rate

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To view this property or request more details, contact:

Hilton Smythe, Bolton

20 Wood Street, Bolton, BL1 1DY

01204 299139 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.

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