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Foundry 34, 34 Burrowgate, Penrith, Cumbria, CA11 7TA

Guide Price
£1,150,000

Business rates & charges may apply

Christie & Co, Hotels
SIZE

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SECTOR

Hotel for sale

Key features

  • High quality hotel - 4.5/5 Tripadvisor
  • 10 air con. letting rooms plus bar,restaurant
  • Quality fish & chip takeaway - separate entry
  • Gateway to the Lake District
  • Freehold - good profitability
  • Family run business - retirement sale. Energy Rating D
  • Christie & Co Ref: 5244992

Description

Description

High quality boutique hotel with 10 air conditioned letting rooms, bar and restaurant popular locally for live music nights as well as a popular adjoining take away fish & chip restaurant.

All bedrooms have been finished to a high standard with ensuite bathrooms - there are two single rooms and one family room.

There is a two bed managers flat on the third floor.

Location

The historic and bustling market town of Penrith came to prominence in Roman times as an important junction for both north/south and east west traffic. This remains true today as it sits at the gateway to the Lake District with easy access both from the M6 (J40) and the east/west A66.

The town is a very popular tourist spot with a wide range of shops, restaurants and hotels/inns. Foundry 34 sits in a prime central location within the town centre and benefits from several public car parks within a short walk as well as the main Bus / coach depot.

Penrith is a cultural hub for the area and pre pandemic events such as the Mayday Carnival, Penrith Agricultural Show, The Winter Droving and Kendal Calling all add to the tourist appeal of the area.

Fixtures & Fittings

All equipment owned outright and included within the sale.

The Opportunity

Our client has used his construction expertise to develop and significantly extend the original building to create this high quality boutique finish hotel.

Potentially additional rooms could be created out of the managers accommodation and the breakfast room is the style of operation were different.

The hotel and chippie sit at the heart of the town and had developed a following for live music nights as well as the good food and excellent atmosphere. Our client now wishes to retire and there is the opportunity for a buyer to acquire an excellent all round leisure business already trading profitably in an established market town location at the gateway to one of the most popular tourist / leisure destinations in the UK.

Staff

The hotel and take away have had a stable staff base with all members being paid on an hourly basis. Further details will be provided following a formal viewing.

Trading Information

Trading accounts will be provided to interested parties after a formal viewing. Consolidated turnover for the hotel and chippie showed turnover of £561k and £595k respectively. Whilst the hotel was affected by Covid restrictions Sandgate Chippie traded well throughout as a takeaway / delivery operation.

Tenure

Freehold

Business Rates

Rateable Value £19,750, effective date 14th June 2021.

Energy Performance Certificates

EPC 1

Brochures

Foundry 34, 34 Burrowgate, Penrith, Cumbria, CA11 7TA

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Penrith Station0.3 miles
  • Langwathby Station4.1 miles

About Christie & Co, Hotels

Whitefriars House, 6 Carmelite Street, London, EC4Y 0BS

We’re the leading specialist advisor for buying and selling businesses in our sectors - hotels, pubs, restaurants, childcare, healthcare, convenience retail, leisure and medical.

If you’re looking to buy or sell a business in our specialist sectors – from a pharmacy in Sussex to a hotel in Austria – our expert advice and collaborative support will help you achieve your goals. You may be an independent first-time buyer or a multinational adding to your portfolio; either way, you’ll discover that our personalised service is focused on helping you achieve your ambitions.

Clients have access to our carefully managed network of potential buyers. This unique database of contacts has been continually developed by our advanced IT capabilities and benefits from both our years of experience developing our network and our wide geographical coverage.

Where we work

We employ the largest team of sector specialists in the UK and the largest group of hotel specialists in Europe, providing professional brokerage and advisory services from offices in major cities across Britain and Europe. And because we’ve been doing this for over 80 years, we know our sectors and local markets inside out. We work closely with our clients to guide and conclude transactions of any size, covering hotels, restaurants and pubs, leisure, forecourts and convenience retail businesses, social care and elderly care, childcare & education facilities, dental practices and pharmacies.

Our professional services

We offer unrivalled insight, experience and expertise across your choice of services, including brokerage, consultancy, finance, development, investment, surveying, rent reviews, dispute resolution, corporate valuation, and turnaround & recovery. These services are all underpinned by our in-depth market intelligence and leading-edge technology. And we’re accredited by the Royal Institution of Chartered Surveyors (RICS), so you can trust in our professionalism.

What makes us tick

Businesses are about people, so relationships matter to us. We bring an integrity and transparency to business which can be all too rare – and that’s why people trust us. Our clients will attest to our genuine desire to help achieve their objectives, our attention to detail, and our tireless hard work on their behalf. We understand that buying a business can bring its own pressures and strains; needs can change, plans may need to be adjusted, and opportunities can come and go. But we’re always here, a constant, flexible and reliable force you can count on.

Our opening hours for all offices:

Mon – Fri, 9am – 5.30pm

Notes

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Disclaimer - Property reference 5244992-fh. 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 Christie & Co, Hotels. 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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