Hotel for sale

The Drake, 2 Windsor Villas Lockyer Street, Plymouth, PL1 2QD

Under Offer £850,000

Property Description

Commercial information

  • Business for sale

Key features

  • 16 en suite letting bedrooms
  • Short walk from City Centre, Hoe & University
  • Dining Room (65), Bar (10)
  • 3 bedroom owners apartment
  • Scope to substantially develop the business
  • 15 parking spaces. Energy Rating C

Full description

Tenure: Freehold

Description

The property is a substantial Grade II listed detached Victorian villa, believed to have been built around 1820 -1830. It retains many of its original features and has been lovingly maintained and improved by the current owners.

The hotel benefits from a more modern extension to the rear which has been recently refurbished.

Location

The Drake is located in a superb trading position close to the city centre, the Hoe and major venues such as Plymouth Pavilions and Theatre Royal.

The hotel is within walking distance of the city centre, Barbican and Royal William Yard and is well served by Plymouth central train station, which provides mainline routes to all major destinations.

Internal Details

From Lockyer Street the main front entrance opens into the main reception hall with reception desk.

Spacious dining room with up to 65 covers.

Licenced bar and lounge, seating for up to 12.

Commercial catering kitchen, office, laundry room and basement cellar stores.

Fixtures & Fittings

All trade fixtures and fittings will be included in the sale and our clients will provide a trade inventory to interested parties.

Letting Accommodation

The property benefits from a total of 16 en suite letting bedrooms, six of which are located in the more recent rear extension.

There is also potential to create an additional letting bedroom in the rear extension by reverting the unused communal kitchen back to a bedroom.

External Details

Parking to the front and rear of the hotel for 15 vehicles.

Owner's Accommodation

Spacious owners apartment, located on the lower ground floor, comprising: lounge / kitchen, two double bedrooms, one single bedroom and family bathroom.

The Opportunity

Our clients purchased The Drake in 2003 and have taken the difficult decision to sell due to retirement. They have chosen to run the business as a lifestyle operation, trading for just over 11 months of the year.

Historically, the owners let the six en suite bedrooms in the East Wing to students, however these have recently been refurbished and incorporated into the B&B business. These additional rooms are selling well and improving the trading performance of the business.

The Drake provides an excellent opportunity to further develop the revenue and profits by taking advantage of its city centre location and developing the room rates and occupancy levels.

Alternatively, The Drake is available to purchase without the East Wing, reducing the number of bedrooms to 10, for an asking price of £675,000 (see reference number 3246671 for further information).

Staff

The hotel is run by one of the owners, assisted by four part time members of staff

Trading Information

We are in receipt of accounts for year end 31 March 2018 which show a net turnover of £156,334.

Further accounting information is available on request.

Business Rates

Rateable value with effect from 1 April 2017 £9,700.

Regulatory

Premises Licence.


More information from this agent

Nearest stations

  • Plymouth (0.7 mi)
  • Devonport (1.4 mi)
  • Dockyard (1.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Exeter

Kings Wharf The Quay, St. Thomas, Exeter, EX2 4AN

01392 799187 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

  • Plymouth (0.7 mi)
  • Devonport (1.4 mi)
  • Dockyard (1.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Exeter

Kings Wharf The Quay, St. Thomas, Exeter, EX2 4AN

01392 799187 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 3246659-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 , Exeter. 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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