Hotel for sale

The George Hotel, High Street, Cley next the Sea, Holt, UK, NR25 7RN

Under Offer Offers Invited

Property Description

Commercial information

  • Business for sale

Key features

  • Rarely available North Norfolk hotel
  • Attractive bar & restaurant areas
  • 10 refurbished en suite letting bedrooms
  • Car park & beer garden
  • Annual sales 609,131 ex VAT
  • Operated under management. Energy Rating E

Full description

Tenure: Freehold

Description

A late Victorian brick built property under a pitched and tiled roof with car parking for around 10 vehicles to the rear. Additionally, there is a large lawned beer garden directly opposite the property, extensively used in the summer months.

The bar and dining areas are at ground floor level with the letting rooms located on the first and second floors, the hotel entrance being directly accessible from the car park.

Acquired by the vendor in 2013, the kitchen and room stock, in particular, have been extensively refurbished with average room rates having grown substantially. Our client oversees the business but local management undertake normal day to day operational matters, new owner operators therefore having the opportunity to reduce overall wage bill costs.

In recent years, this part of Norfolk has seen a significant growth in the number of other very high quality hospitality businesses, a key reason for anticipating a good response from the market for The George. Indeed, on this basis alone, we'd recommend an early viewing.

Location

The property is located in the village of Cley next the Sea on the North Norfolk Heritage coastline, approximately 28 miles north west of Norwich and 12 miles west of Cromer. Blakeney is less than two miles, Wiveton just a mile, Holt is around four miles away with Wells-Next-The-Sea to the west, just nine miles. Trunk road access is very good with the property fronting the A149 coast road, the A148 being accessible at Holt.

The George is situated in the heart of the village close to its renowned salt marshes and the North Norfolk Coast Path, popular year round with birdwatchers and walkers.

Internal Details

• Entrance from car park to small lounge/lobby
• Public/resident's bar with servery
• Main restaurant/dining areas laid out for around 50 covers and split between adjacent rooms
• Customer & disabled WCs
• Excellently refurbished kitchen
• Other service & storage accommodation

Fixtures & Fittings

Well equipped throughout with only limited third party agreements in place. Please note that there are some personally owned pictures at the property which will be replaced before completion of any sale.

Letting Accommodation

Located on the first and second floors, the accommodation extends to 10 individually decorated and equipped letting bedrooms - the Cley Suite with double bedroom, sitting room & bathroom, a second suite with double bedroom, lounge and bathroom together with eight further upgraded double rooms, all with en suite facilities. All rooms have television, hospitality tray and free WiFi access.

External Details

Rear car parking for around 10 vehicles leading to entrance lobby. The George fronts the A149 through the village with the beer garden being directly opposite.

The Opportunity

The George Hotel is an exceptional opportunity for owner operators to acquire a very well refurbished hospitality business in north Norfolk.

Operating year round and well regarded for its food and rooms in particular, The George Hotel also attracts local bar trade. In our view, there is undoubted growth potential in the business in light of the present owner's overseeing role. Following the rooms refurbishment however, impressive room rates have been achieved in the larger suites in particular, a trend we see as continuing under new ownership. This part of Norfolk has seen a significant increase in the number of boutique style hospitality businesses elsewhere, particularly those with letting accommodation, and there is no reason why The George cannot compete on the same terms, particularly given the increasing footfall of visitors to the county in recent years.

A property we strongly recommend is viewed at the earliest opportunity.

Staff

Operated by a team of full and part time staff, more details being available on request.

Trading Information

We are advised that total sales for the year to 30/9/17 were £609,131 ex VAT. More information is available to parties who have viewed.

Business Rates

The property has a rateable value of £44,500 from April 2017.

Regulatory

Premises Licence.


More information from this agent

Nearest station

  • Sheringham (7.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Ipswich

Hyde Park House Crown Street, Ipswich, IP1 3LG

01472 565052 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 station

  • Sheringham (7.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Ipswich

Hyde Park House Crown Street, Ipswich, IP1 3LG

01472 565052 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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