Hotel for sale

The Royal Hotel, 13-17 East Parade, Whitley Bay, NE26 1AP

£1,200,000

Property Description

Commercial information

  • Business for sale

Key features

  • 40 bedroom sea front hotel
  • T/O to 30.6.19, 873,000, ANP 240,000
  • Large bar (250), Pan European restaurant (80)
  • First floor breakfast room, 3 kitchens
  • On promenade, 200m from Spanish City
  • Area of high investment/development. Energy Rating D
  • Christie & Co Ref: 6445111

Full description

Tenure: Freehold

Description

A 40 bedroom sea front hotel with significant ground floor Food and beverage space currently comprising a large bar/function suite and also a self contained restaurant with catering kitchen.

Location

The Royal Hotel sits on the Promenade of Whitley Bay seafront, an area which has recently undergone major development and investment including the £10m facelift, refurbishment and reopening of the iconic Spanish City leisure complex which lies just 200m away.

Whitley Bay is a large coastal town on the beautiful north east coast with a population of around 36,000. It forms part of the Tyneside conurbation, with the cosmopolitan and vibrant city centre of Newcastle upon Tyne just 10 miles away.

Internal Details

The hotel comprises a large 250 capacity self contained ground floor bar/function suite with two bar serveries and a good sized, well equipped catering kitchen. A hotel reception area gives access to the first and second floors where there are 40 bedrooms (two currently disused) comprising five sea view suites, 11 double/twins, 16 singles and six family rooms. There is also a first floor breakfast room with its own kitchen.

On the ground floor there is a restaurant which is held on a short-term lease and the tenant will stay or vacate, depending on the plans of the new owner.

The Opportunity

Our client runs a good hotel which enjoys repeat business derived from both commercial trade and tourism.

Room rates vary from £40 per night for a single room to £115 for a sea view suite and there is also good local trade from the large ground floor bar.

Within the building there is an 80 cover ground floor restaurant which could be leased out to provide extra income, or could be operated by a new owner/buyer.

Trading Information

For the period July 1st 2018 to June 30th 2019, the clients’ accounts shows a turnover of £873,000 and an adjusted net profit of £240,000 after an adjustment of £90,000 for internal rent. The 9 months from Jan 1st 2019 to Sept 30th 2019 shows a turnover of £690,000 and a net profit of £228,000 after a pro rata adjustment of £67,000 for internal rent.

Business Rates

The Rateable Value is £87,000 with effect from April 2017. Confirmation of actual business rates payable should be obtained from the local authority.

Regulatory

Premises Licence.


More information from this agent

Nearest stations

  • Whitley Bay (0.3 mi)
  • Monkseaton (0.6 mi)
  • Cullercoats (0.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Newcastle Upon Tyne

Shakespeare House 18 Shakespeare Street, Newcastle Upon Tyne, NE1 6AQ

0191 687 0826 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.

Floorplans


To view this property or request more details, contact:

Christie & Co , Newcastle Upon Tyne

Shakespeare House 18 Shakespeare Street, Newcastle Upon Tyne, NE1 6AQ

0191 687 0826 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

  • Whitley Bay (0.3 mi)
  • Monkseaton (0.6 mi)
  • Cullercoats (0.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Newcastle Upon Tyne

Shakespeare House 18 Shakespeare Street, Newcastle Upon Tyne, NE1 6AQ

0191 687 0826 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 6445111-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 , Newcastle Upon Tyne. 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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