23 bedroom hotel for sale

Woolwich Road, London, SE7

Offers in Excess of £3,600,000
10,200 sq. ft.

Property Description

Commercial information

  • 10,200 sq ft (947 sq m)

Key features

  • Existing hotel and public house
  • Planning potential for a 44 room hotel
  • Planning potential for a 60 room hotel and extra floor
  • ERV c.2,600,000

Full description

Tenure: Freehold

The existing property is a 3 storey building comprising a pub across basement and ground floor level and a 23 room Hotel across first and second floor extending to 10,200 sqft GIA.

The property is located on Woolwich Road and is approximately a 2 minute walk from Charlton Overground Railway Station which provides services into London Bridge in 22 minutes.

The building is situated on a landmark corner plot and is a 2 minute walk from Charlton Athletic Football Club (The Valley) with seating capacity for 27,111 and hosting regular matches.

Planning permission was granted in August 2017 for 8 x flats and 2 x commercial units. Planning reference: 15/2272/FUL.

Planning permission has been submitted utilising the same massing as the approved residential scheme for the conversion of the existing hotel and construction of a third floor to create a 60 room hotel and retention of the original pub at ground floor level. Planning reference: 18/2673/F.

The proposal involves conversion of existing hotel with side extension and erection of an additional floor to accommodate 60 hotel rooms. At ground floor level the public house will be refurbished, with the smaller function room being converted into additional hotel rooms. The remaining ground floor will comprise 12 x rooms . There will be 17 x rooms at both first and second floor and 14 x rooms at roof level.

The proposal will extend to 17,771 sqft GIA.

We are aware that the existing hotel charges a blended rate of £60 per night giving the hotel an ERV of c. £503,000 pa. Based on Comparable evidence we are of the opinion that the 60 unit scheme finished to a good specification would be able to achieve a blended rate per night of £120 giving it an ERV of £2,628,000. (this is based on 100% occupancy).

The property is available freehold with vacant possession.

We are aware that the property is not elected for VAT.


Listing History

Added on Rightmove:
02 August 2018

Nearest stations

  • Charlton (0.1 mi)
  • Westcombe Park (0.6 mi)
  • Woolwich Dockyard (1.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

DI Properties , London W1

18 Fitzhardinge Street, London, W1H 6EQ

020 8012 0556 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.

Floorplans


To view this property or request more details, contact:

DI Properties , London W1

18 Fitzhardinge Street, London, W1H 6EQ

020 8012 0556 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

  • Charlton (0.1 mi)
  • Westcombe Park (0.6 mi)
  • Woolwich Dockyard (1.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

DI Properties , London W1

18 Fitzhardinge Street, London, W1H 6EQ

020 8012 0556 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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