Restaurants for sale in Essex

View the "30 LETTING ROOM HOTEL WITH 2 RESTAURANTS" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.
 

 I’m really happy having just sold my online business within 2 weeks of advertising on Daltons 

Sarah Davies (June 2014) View More
Freehold Price: £2,100,000 Price Reduced
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Business Description
30 LETTING ROOM HOTEL WITH 2 RESTAURANTS - ESSEX
Large imposing property standing on a substantial plot
Well established showing good return year on year
Close to local industry and mainline train to the city
£600,000 pa turnover at high gross margins
Our client is selling this hotel with another
Prime main road location
Early viewing essential
Huge growth potential
FREEHOLD

Business History

Meridian Business Sales are delighted to offer to the market this well established and profitable 30 letting room hotel which has been in the careful hands of our client since 1983. The only reason this superb hotel is being offered to the market is our clients desire to take a well earned retirement. Since our client took over the business they have embarked on an on going refurbishment program culminating in a true walk-in and trade business. The business is currently being run by a manager with full and part time staff. There are two restaurants within the hotel both are let, one is a Chinese restaurant and the other is an Indian restaurant, bringing the business a regular income. Our client informs us that the current turnover is £600,000 pa with a high gross margin which is derived from letting bedrooms and revenue from the rental of the two restaurants. The business enjoys a strong reputation and because of this has good repeat bookings and due to the hotels prime location close to industry its forward bookings are healthy. The position of the hotel would also lend itself to redevelopment into apartments and our client informs us that if permissions were sought then there would be a high possibility of receiving planning. This is a superb opportunity to purchase a unique and thriving business with huge growth potential therefore we recommend early viewing.
Tenure: Freehold

Listed by: Meridian Business Sales Limited
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