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Mannings Hotel, Apartments And Land, Lemon Street, Truro, Cornwall, TR1 2QB

Guide Price
£4,500,000

£103.31 per sq ft

Business rates & charges may apply

Vickery Holman, Truro
SIZE AVAILABLE

43,560 sq ft

4,047 sq m

SECTOR

Hotel for sale

Key features

  • 34 En-suite hotel bedrooms
  • 9 one bedroom self-contained apartments
  • Bar (20 Restaurant (70)
  • 40 + car parking
  • Two former Malthouses for development
  • Additional city centre landholding
  • Site c1 acre
  • Net revenue consistently at/over £2m

Description

Introduction:
Mannings Hotel, built in 1799, is the epitome of Georgian style in the heart of the city of Truro. Serving locals, corporate and leisure guests for 125 years it provides excellent restaurant facilities, hotel rooms and self-catering apartments in contemporary surroundings. The property has been extensively refurbished and remodelled during our client's 30 year ownership and presents a well invested, independent hotel with consistent trading performance and development upside.

History:
The principal hotel dates from 1799, with the apartments formed from the original stables nearby. Initially Pearce's hotel and noted as a busy coaching Inn on the Penzance to London route, In 1846 it became the Royal Hotel after a visit from Prince Albert and remained under that name until our client purchased the site in 1993. The hotel at that time had been under group ownership and neglected for many years, with our client undertaking a root and branch refurbishment to create the venue that it is today. In addition to restyling and creating the 34 en suite bedrooms this included the development in 2003 of the former stable block and warehouses into 9 self-contained 4*apartments.

The Business:
The hotel has an established customer base and trades between £2-2.5M per annum, maintaining a strong income during COVID to service loyal customers and protect jobs. Income comes from the hotel rooms, self catering apartments, restaurant sales and car parking revenue. The general split of income is 50/50 between restaurant and accommodation sales. Full trading information provided subject to purchaser ability, experience and agreement to non-disclosure terms.

Brochures

Mannings Hotel, Apartments And Land, Lemon Street, Truro, Cornwall, TR1 2QB

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Truro Station0.6 miles
  • Perranwell Station4.3 miles

About Vickery Holman, Truro

Walsingham House Newham Road, Truro, TR1 2DP

Vickery Holman is a multi-disciplined property company, the roots of which can be traced back as far as 1848. Today, the consultancy has more than 60 people working in four offices, strategically placed across the South West. Vickery Holman is a limited company, owned by its employees, and is a member of the RICS (Royal Institution of Chartered Surveyors).

Our consultants offer a full spectrum of skills in all areas of property, from all aspects of general practice and building surveyin

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Notes

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Disclaimer - Property reference 20667FH. 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 Vickery Holman, Truro. 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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