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LARGE PERIOD 11 ROOM HOTEL
Leasehold - £79,950
LARGE PERIOD 11 ROOM HOTEL - DERBYSHIRE
£180,000pa turnover with huge growth potential
Large owners accommodation to the top floor
Early viewing essential to appreciate
Located in the centre of Alvaston
Function/conference room
Public bar and lounge
Business History
Meridian Business Sales are delighted to bring to the market this fine period hotel based in the popular area of Alvaston close to the city of Derby. The hotel has been in the careful hands of clients since 2006 who now wish to offer the business for sale due to the ill health of one of the partners. Our clients have just finished a full renovation of the letting rooms introducing televisions and tea and coffee facilities to all of the 11 letting rooms. Over the years the business has built a good reputation for offering its clients a comfortable and 'value for money' stay attracting a good mix of tourists for the city and surrounding dales plus contractors and business people for the thriving industry of Derby. The business has been run at a pace to suit our clients due to the ill health of one of the partners but both our clients believe that there is substantial scope for growth by introducing a website and joining such organisations as late rooms and other internet based booking sites. The current turnover of this business is £180,000 pa with a gross margin of 55% but again there is scope to increase the margins by utilising the conference and function suite to its full potential. Early viewing is highly recommended to appreciate the tremendous scope for growth this business offers.
1810
Derbyshire
The hotel is located on a prime corner trading position in the affluent and busy area of Alvaston in the city of Derby. Alvaston has a good mix of housing and local industry from which the hotel draws its main business with locals using the bar and lounge. In addition, the letting rooms are used by travelling business people and contractors who require accommodation in the area. Derby is a modern city which has benefited from good levels of investment in both its infrastructure and recreational facilities. It has recently unveiled its showcase shopping centre which is renowned as one of the best in the country attracting most of the big name retailers. The city also enjoys a cosmopolitan mix of restaurants, bars and theatres making the city a popular choice for people to travel to from neighbouring Nottingham.
Substantial 4 storey, red brick built, Victorian hotel with 11 letting rooms, bar, lounge & conference facilities, briefly comprising:
GROUND FLOOR - The public bar & lounge are entered via the main double doors. The bar & lounge area are of good proportions, the bar is fitted with glass fronted fridges, glass washer, 10 points of dispense & back bar for display and optics.
FIRST FLOOR - Large landing with stunning high ceilings & archways. Off the landing are the letting bedrooms. There are 11 letting rooms in total & all have been recently refurbished & decorated to a good standard. All letting rooms have television & tea & coffee making facilities.
SECOND FLOOR - The second floor is currently used for the owners' accommodation & consists of 1 double bedroom, a dining room that could double as a further bedroom, a full modern bathroom, lounge, kitchen & store room. The owners' apartment again is decorated to a good standard throughout.
Leasehold - Original length: 3 years
Remaining: 3 years, Review: 3 years
Rent: £14,000pa
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