Superbly Appointed Hotel in Tourist Haven with Large Owner’s Accommodation
Price:
Freehold - £700,000
Location:
Isle of Wight , Shanklin
The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favourable lease terms (see below).
- Turnover in excess of £68,191 pa with a gross profit of £57,169 (see financial summary below).
- A business with great potential.
- An easily run operation.
- A good first time buyers business and ideal purchase for couple.
- Very low overheads.
- Business enjoys superb local reputation.
- The concern provides first class accommodation.
History
Phoenix Business Transfer Agents are delighted to place onto the market this superb Hotel which has been established since 1960. The business has been in the hands of the current owner since 2005 and now wishes to sell due to retirement.
Services
This very good business opportunity provides Hotel accommodation.
Staffing
The concern employs no staff and is family run.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
The owner markets the business in local web sites and has a website the business is well known with many clients returning year on year.
Competition
As far as competition is concerned there is another similar business nearby as this is a busy tourist area.
Market
The client base consists of tourist and some local commercial work.
Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the product line to include evening meals.
• With the introduction of a website and e-commerce.
• With an enhanced website.
• To increase the function side of the business weddings etc.
Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made.
The present annual turnover is £68,161 with a gross profit of £57,169. The present value of the stock is £1000.
The potential turnover of the business within the next 2 years is forecast to reach £120,000 pa given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.
Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller.
- Situated in the Shanklin area of I.O.W.
- Prominent location.
- Excellent free parking facilities.
- Surrounded by densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Commercially thriving area.
- Well linked with the all of the I.O.W.
- Ferries from Portsmouth and Shanklin Sea front all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area.
The property is detached with 9 letting rooms. All en-suite bedrooms.
1 family room, 1 single room, 4 double rooms, 3 twin rooms. They are all very well presented to a very high standard.
There is a large dining room, a separate lounge with a separate bar area with an outside patio.
There is a very well presented kitchen, a back kitchen preparation area and a linen washing room.
There is separate owner accommodation as follows.
Bedroom, Bathroom toilet, lounge and separate office.
The Property has been refurbished over the last few years to a very high standard and is fully double glazed.
External
To the front there is parking area
To the rear is a garden area and a side patio area.
North Yorkshire
£ 750,000
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