Hotel for sale

Comfort Hotel, Albert Square, Great Yarmouth, England, NR30 3JH

£1,550,000

Property Description

Commercial information

  • Business for sale

Key features

  • 50 bed 3 Star Comfort branded hotel
  • 70 cover restaurant and bar
  • Function facilities for 100
  • Budgeted 2017/18 sales 806,482 ex VAT
  • Highly profitable business
  • Energy Rating C

Full description

Tenure: Freehold

Description

A substantial four storey 50 bedroom hotel, with a large enclosed garden, extensively refurbished by the present owners & generating substantial revenue and net profits.

Location

Located in Albert Square, on the southern side of the holiday resort of Great Yarmouth, located on the east Norfolk coast, and within walking distance of the sea front. North Denes Heliport is 5 minutes drive and the town is around 20 miles from Norwich, 10 miles from Lowestoft & 55 miles from Ipswich to the south.

Internal Details

Main entrance leading to reception lounge • Look-Out bar with servery seating around 25 • Garden Suite, an air-conditioned function room seating 100 theatre style • Below Decks Restaurant with 70 covers • Very well equipped kitchen and service areas • Office • Customer WC's.

Fixtures & Fittings

We are advised that the fixtures and fittings are substantially free from hire or lease purchase agreements. Equipped with CCTV.

Letting Accommodation

The hotel has 50 en suite letting bedrooms on the ground, first and second floors, including a ground floor disabled bedroom with wet room: • 11 family • 35 twins and doubles • 2 singles • 2 suites.

All letting rooms are very well equipped with satellite TV, hospitality making facilities, hairdryer, direct dial telephone and WiFi internet access with room rates ranging from £49 to £129 per night including VAT and breakfast, dependant on occupancy and time of year.

External Details

The property has an extensive site, with a lawned garden, and large external seating area at the rear. There is off-street parking for 19 cars, some under cover, with ample on-street parking available in Albert Square.

The Opportunity

The Comfort Hotel, owned by our clients since 1997, is a substantial and highly profitable property & business, which has been extensively refurbished to a high standard, and remains the only privately owned branded hotel in Great Yarmouth. The hotel attracts year-round repeat business – both commercial and leisure – and is much in demand for a wide range of functions, conferences, weddings and other celebrations, the Garden Suite opening onto the lawn which enables catering for 250 marquee-based guests.

Awards include Comfort Hotel of the Year in 2011 and 2012, in addition to its 'Outstanding' rating by Great Yarmouth Tourist Authority, for improving standards in the 3-star market.

For additional information about the hotel and its facilities, see www.comfortgreatyarmouth.co.uk

Staff

Run by a management team together with a team of full and part time staff. Further details on request.

Trading Information

We're advised that sales for the year to 30/11/17 were £757,991 ex VAT, split as to: room revenue, £492,545, food, £184,152, liquor, £72,143 & other sales, £9,151. Budgeted sales for 2017/18 are expected to be £806,482 ex VAT.

Further and more detailed accounting information available for interested parties who have viewed the business.

Business Rates

The hotel has a Rateable Value of £54,500 effective from April 2017.

Regulatory

Premises licence & also licensed as a venue for civil wedding ceremonies.


More information from this agent

Nearest stations

  • Great Yarmouth (1.0 mi)
  • Berney Arms (4.4 mi)
  • Haddiscoe (6.7 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 stations

  • Great Yarmouth (1.0 mi)
  • Berney Arms (4.4 mi)
  • Haddiscoe (6.7 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.

Disclaimer - Property reference 1446601-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 , Ipswich. 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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