Hotel for sale

The Old Bakery, 12 High Street, Kenilworth, Warwickshire, United Kingdom, CV8 1LZ

Under Offer £1,200,000

Property Description

Commercial information

  • Business for sale

Key features

  • 14 en suite bedrooms
  • Bar & restaurant (46)
  • Annual turnover Y/E Feb 2016 - 338,522
  • Certificate of Excellence - Trip Advisor
  • Car park (7)
  • EPC Exempt

Full description

Tenure: Freehold

Description

A traditional terraced property dating back to the Elizabethan period with brick elevations and a pitched tile roof. Historically 12 High Street housed the town's major bakery and in the mid 1990s the property was converted with an extension built at the rear for the 14 hotel rooms.

The sale of this property is a genuine retirement sale and the vendor is open to serious offers. The vendors position is that they have an opportunity to take on a new venture much better suited to their age and requirements and will therefore look at offers based on the ability to achieve a quick completion.

Location

The Old Bakery is situated in the Old Town area of Kenilworth, Warwickshire in a prominent position on the High Street.

Kenilworth is located as follows: Leamington Spa 6 miles, Warwick 7 miles, Solihull 11 miles, Stratford-upon-Avon 14 miles and Birmingham 21 miles. It is positioned in the centre of a motorway network with easy access to the M5, M6, M42, M40 and M69.

0.5 miles away from the Old Bakery is Kenilworth Castle, which has been at the centre of England's affairs for much of its 900 year history. In the present day, it is a popular tourist attraction and hosts a variety of events throughout the year.

Internal Details

High Street entrance into the bar and restaurant area. The seating is split across two rooms holding (46).

The ground floor includes a trade kitchen, storage room, customer toilets, seven letting rooms.

The first floors comprises seven letting rooms, self contained two bedroom owner's apartment and storage room.

The entire building is network cabled and has Wireless access points throughout to provide excellent signal coverage.

Fixtures & Fittings

We are advised by our client that the phone system is £30 per month and the washer, dryer and dishwasher are rented. All other trade fixtures and fittings are owned outright and will be included within the sale.

Letting Accommodation

The accommodation is purpose-built on two floors at the rear of the property and contains 14 en suite bedrooms with power showers, TV's and WIFI. The rack rate for the rooms is:
£75 single room
£85 sole occupancy of a double room
£95 double room
£100 executive room
£105 twin room
£125 family room

The average room rate is around £85.

External Details

There is a car park (7) and storage shed to the rear of the property.

Owner's Accommodation

Self contained two bedroom owner's apartment on the first floor comprising a fully equipped kitchen, living room, bathroom with separate shower, double bedroom and office/single room.

The Opportunity

There is significant opportunity to uplift sales due to the fact the business has been operated very much as a lifestyle business with the vendor preferring not to take bookings on weekends and bank holidays.

Trading Information

The Old Bakery has been awarded a Certificate of Service Excellence by Trip Advisor, appeared in the Good Beer Guide for the last 15 years and was awarded CAMRA Pub of the Year 2016 for the Coventry & Warwickshire area.

The business has a proven track record of consistent revenue and net profit as detailed below:
YE 2012 = Revenue £314,695 with a Net Profit £88,432
YE 2013 = Revenue £326,167 with a Net Profit £97,087
YE 2014 = Revenue £329,585 with a Net Profit £95,997
YE 2015 = Revenue £332,291 with a Net Profit £90,239
YE 2016 = Revenue £332,572 with a Net Profit £97,888

Further detailed accounts will be provided upon request to seriously interested parties.

Development Potential

Potential to develop the hotel subject to planning consent from the local authority.


More information from this agent

Nearest stations

  • Kenilworth (0.7 mi)
  • Tile Hill (3.2 mi)
  • Canley (3.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Birmingham

8 Cherry Street, Birmingham, B2 5AL

0121 396 1030 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

  • Kenilworth (0.7 mi)
  • Tile Hill (3.2 mi)
  • Canley (3.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Birmingham

8 Cherry Street, Birmingham, B2 5AL

0121 396 1030 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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