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Hotel for sale

Confidential Sale, Country And Coastal Hotel, Truro

£1,100,000

Property Description

Full description

CONFIDENTIAL SALE

PLEASE ENQUIRE FOR NDA

COASTAL 11 BEDROOM HOTEL
POPULAR NORTH COAST VILLAGE
VERY WELL PRESENTED AND EQUIPPED
2 SETS OF OWNERS ACCOMMODATION
GENEROUS GROUNDS OF C. 1.6 ACRES
CONSISTENT SALES AND PROFITS
GENUINE RETIREMENT SALE

Summary - COASTAL 11 BEDROOM HOTEL
POPULAR NORTH COAST VILLAGE
VERY WELL PRESENTED AND EQUIPPED
2 SETS OF OWNERS ACCOMMODATION
GENEROUS GROUNDS OF C. 1.6 ACRES
CONSISTENT SALES AND PROFITS
GENUINE RETIREMENT SALE

Property And Business -

We understand the original property dates back to 1938, which has been extended predominantly to the rear to provide 11 generous bedrooms, two on the ground floor with the remaining 9 on the first floor. The property sits in the upper curtilage of the land area on the most elevated part, which accordingly affords the rooms some very far-reaching country and coastal views. As a potential note of interest, the land area in the lower part as one enters the curtilage could potentially have use for additional letting accommodation, subject to consent, which is not something our clients have explored.

For the guests is a generous Lounge with Bar and Dining Room, with lovely views over the countryside.

There are two sets of owners accommodation, one on the Ground Floor, which has access to a rear private garden and the other on the Second Floor, which could also be re-configured to provide additional rooms.

The property and grounds are, in our opinion, very well maintained, presented and equipped.

Our clients have owned the business since 2009 and are now selling due to impending retirement. The business trades all year and has an approximate split of 30% bed and breakfast and 70% half board. The premises are also available to non-residents for functions in the dining room and lounge. The business model has mature client base and also has 2 rooms for guests with dogs. The business enjoys good levels of repeat business and has a 3 Star AA Rating.

We are advised the turnover for the year end march 2017 was c. £250,000 (Net of VAT and including own consumption), with a Gross Profit level of 85% and which produced an Adjusted Net Profit of £107,722 (after deducting all overheads, including wages of c. £47,000). At the time of writing we are advised the turnover for the year end March 2018 was c. £255,000 (Net of VAT), full Accounts not yet available. Further accounting information will be made available to interested parties.



General Information - LOCAL AUTHORITY
Cornwall Council
General Enquiries 0300-1234-100
Planning 0300-1234-151
www.cornwall.gov.uk

Energy Performance Certificate - The Energy Performance Rating for this property is within Band E.

Inventory - An Inventory of all loose chattels and equipment, free of any lease/lien, to be included within the sale will be supplied by Miller Commercial prior to exchange of Contracts.

Premises Licence - We understand the business currently holds a premises licence in respect the sale of liquor for consumption on the premises.

Business Rates - We refer you to the government website https://www.tax.service.gov.uk/view-my-valuation/search.

Services - Prospective owners should make their own enquiries of the appropriate statutory undertakers:
Western Power: 0845 601 2989
South West Water: 0800 169 1144
Transco: 0800 111 999

Stock - To be taken at valuation.

Superfast Broadband - For more information on whether the premises are capable of benefitting from the new high speed fibre-based broadband connection visit http://www.superfastcornwall.org/.

Value Added Tax - All the above prices/rentals are quoted exclusive of VAT, where applicable.

Finance - If you require advice regarding the Financing of a Business, at no initial cost, please contact us on the numbers below.

Contact Information - For further information or an appointment to view please contact either:-
Graham Timmins on 01872 247019 or via email gt@miller-commercial.co.uk or
Paul Collins on 01872 247029 or via email pc@miller-commercial.co.uk or
Beverley Northey on 01872 247031 or via email bn@miller-commercial.co.uk

PLANS: Plans and maps reproduced under Ordnance Survey Licence No LIG1179. Not to scale and for identification of the property only. They are not intended to show actual site boundaries and not guaranteed to be accurate.

AGENTS NOTE: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] Any intending purchaser or tenant must satisfy him/herself by inspection or other wise as to the correctness of each of the statements contained in these particulars; [c] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [d] None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent.

Miller Commercial is the trading name of Miller Commercial LLP registered in England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial LLP is Mansion House, Princes Street, Truro TR1 2RF. We use the term Partner to refer to a member of Miller Commercial LLP. VAT Registration No.643 4519 39.

VIEWING: Strictly by prior appointment through Miller Commercial.


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