Hotel for sale

TravelRest Solent Gateway Hotel, 22 The Avenue, Fareham, Hampshire, PO14 1NS

Guide Price £2,100,000

Property Description

Commercial information

  • Business for sale

Key features

  • 21 en suite letting bedrooms
  • Centrally located in Fareham
  • Close to M27/A27 trunk road
  • Function room and rear garden
  • T/O Year End 31/03/17: 370,000
  • EBITDA Year End 31/03/17: 202,000, Energy Rating C

Full description

Tenure: Freehold

Description

The hotel is a former residential property that has been extended over recent years providing 21 en suite letting bedrooms.

This highly profitable business offers tremendous scope for a new purchaser to expand the existing trade further by enhancing the private dining, wedding and function facilities.

Location

Conveniently located in Fareham, Hampshire, between Southampton and Portsmouth, this TravelRest Hotel is an ideal base for easy access to the commercial business parks situated along the M27 corridor, as well as the numerous visitor attractions the region has to offer.

Internal Details

Reception leading into the conservatory/dining room (60) to the rear with a bar and separate residents' lounge (10) adjacent to the dining room. The kitchen, food store, laundry and office are situated off the conservatory, which can be accessed separately from the main hotel entrance.

21 bedrooms with en suite facilities are situated over the ground and first floors; eight are located on the ground floor with a further 13 situated on the first floor.

Fixtures & Fittings

We are advised that the majority of the trade fixtures and fittings will be included in the sale. An inventory will be provided by the seller once a sale has been agreed.

Letting Accommodation

21 en suite letting bedrooms over the ground and first floors comprising showers or baths with shower over, televisions, direct dial telephones, hairdryers and tea and coffee making facilities.

External Details

Large car park (resurfaced November 2017) to the front of the hotel with landscaped gardens to the rear including a terrace off the conservatory.

Owner's Accommodation

The former owner's one bedroom accommodation comprising kitchen, bathroom and living room could be reinstated if required, with minimal impact and disruption to the business.

The Opportunity

The TravelRest Solent Gateway Hotel is a highly profitable business serving corporate trade during the week and leisure based guests at the weekends.

Having been in the current ownership for the past 16 plus years, this is the first time it has been put on the market during this period.

The business currently operates on a bed and breakfast basis, with function facilities available for small weddings and private dining. There is significant scope to grow the function and private dining side of the business as the current owner has not historically focused on this key income stream.

The business trades from its website www.travelrest.co.uk.

The hotel is available free and clear of the current TravelRest branding. Alternatively, our client would consider a transitional arrangement or a purchaser taking on a franchise in respect to the business retaining the brand.

Staff

The current owner manages the hotel with two duty managers and four duty managers/general assistants who will transfer with the business.

Trading Information

We have been provided with management accounts for the year ended 31 March 2017 showing a net
turnover of £373,000, with an EBITDA of £202,000.

Development Potential

The property may suit alternative uses including assisted living or retirement accommodation, subject to obtaining the necessary planning permission.

There is further scope to increase revenue for the business by utilising the garden area for additional functions including marquee events for small weddings or private functions.

Business Rates

The Rateable Value is £25,500 for the year commencing April 2017.

Regulatory

Premises Licence.


More information from this agent

Nearest stations

  • Fareham (0.2 mi)
  • Portchester (3.1 mi)
  • Swanwick (3.4 mi)
Distances are straight line measurements from centre of postcode

Floorplans

Map & Street View

Nearest stations

  • Fareham (0.2 mi)
  • Portchester (3.1 mi)
  • Swanwick (3.4 mi)
Distances are straight line measurements from centre of postcode

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