Restaurants for sale in Preston

View the "Traditional 18 Room Hotel With Restaurant" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.
 

 A great experience – we had more buyer enquiries through Daltons and the exposure was invaluable to the eventual sale 

Brian Marshall (May 2014)
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Freehold Price: £850,000 Annual Turnover: £200,000 Annual Gross Profit: £175,000
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Business Description
BUSINESS
Hilton Smythe welcomes to the market The Park Hotel. The hotel was originally established over 60 years ago, but was taken over by our clients in 2007. The owners are now looking to sell the business due to the desire to take well-deserved retirements.

The business runs as a hotel and benefits from 18 guest rooms. This is a beautiful property that boasts many of its original features such as the wooden stair case and fireplaces. They offer a range of rooms the dearest being the superior double with a super king bed, large flat screen TV and designer bathroom. All rooms no matter what cost have been complete to a high standards.

 

The turnover for the business is approximately £200,000 per annum with a gross profit of 88%. This is a great turnover that could be increased. Our clients have run the hotel at a steady pace to suit them. Therefore, with a new hard-working owner, there are several ways in which turnover could be boosted.

The business is a perfect function for private parties and conferences. The restaurant can cater for around 60 guests, which should be promoted more. The new owner could look to advertise on social media such as Facebook. These sites are free and make an easy cost effective way of marketing.

We are advised that much of the trade is generated from midweek corporate bookings. This is due to the hotels great location for commuting. However, the purchaser could also look to push for weekend trade. This could be done via Facebook. The hotel does feature on booking sites such as TripAdvisor and Bookings.com, these are great sites that boost trade. There is also the option to book rooms via the business website. www.parkhotelpreston.co.uk Other hotels also recommend this hotel for overspill custom.

Our clients also offer discounts to a local function venue for their guests to stay at the hotel. The business receives a generous amount of trade from this exchange.

The hotel restaurant could also be pushed to the public for afternoon teas, lunches and evening diners. This should generate extra trade, therefore increasing income. We feel that turnover could be doubled in a short space of time; if the new owner was to work hard and maybe take-on some of the suggestions above.

The hotel is in excellent condition and we believe that £300,000 worth of refurbishment has taken place within the last 9 years.

This would make a fantastic opportunity for purchasers with experience in the trade. The business is in a walk-in trading condition and is ready to run. Included in the sale is the 3 bed owners accommodation which is perfect for an owner looking to relocate. However, if the accommodation is not required the purchaser could look to change this space into further guest rooms.

This high quality hotel comes highly recommended by Hilton Smythe and we highly advise early viewing in order to take in the full potential of the business.

LOCATION
The Park Hotel is located in Ashton-on-Ribble, Preston, Lancashire.

The hotel is situated in a quiet upmarket area of Preston. This is a densely populated location with a catholic school directly facing the property. St Andrews Church is also just a 2 minute walk away. The area is filled with large privately owned properties, this really is a peaceful location for a hotel. The property boasts a large site with gardens and a private off road car park.

Ashton-on-Ribble has its own marina that runs into the River Ribble. This is a 5 minute drive away from the hotel, and proves to be very popular with guests due to the lovely walks around the area.

Ashton-on-Ribble is approximately 8 minutes away from the centre of Preston. The city boasts many parks, shops and also has a University. The city has a generous infrastructure. Preston is an easy commute using the fantastic road links or public transport. The area has easy access to the national motorways such as the M6 and M55. The road on which the hotel is located also connects to the A5085 and the A583. These are main arterial road that run from Preston over to the popular tourist location of Blackpool; which is just 14 miles away.

PREMISES
Beautiful Edwardian Hotel built in 1903. Extended in 1989, 2005 and 2007. This exceptional property is set in its own mature grounds with a car park for 16 vehicles. The premise comprises of 18 en-suite bedrooms including a 2 bedroom studio (with living room and bathroom). A further bedroom without bathroom but with exclusive use of bathroom adjacent. There is also a 3 bedroomed owners flat. Therefore there is 18 bedrooms in total (18 guests and 3 owners) in building altogether.

Lovely décor throughout.

Carpeted (except entrance hall which is tiled).

Extensively refurbished.

3* AA small hotel

4* F&H

Excellent Trip Adviser reviews.

Superbly presented

High quality colour coordinated refurbished guest letting rooms with flat screen TVs, DVDs, tea/ coffee making facilities etc.

Excellent owner’s accommodation.

Wi-Fi  throughout

2 new boilers fitted in January 16

Lovely reception with mosaic tiled floor, wooden panelling and stain glass windows.

Warm attractive bar and lounge.

Refurbished restaurant/ dining room seating 26 covers but can cope with buffets for up to 60 guests.

Modern fully equipped kitchen

Toilet

Washroom

Utility Rooms

Ground floor owners flat with 2 double and 1 single bedrooms (previously was 4 bedrooms), living room and bathroom.

Conservatory with kitchen and private lawned garden – excellent family accommodation.

Letting rooms – 2 superior doubles in main house

2 standard doubles, 2 standard double/twin and 2 singles in annex

Access from car park for guests not wishing to use reception

FIRST FLOOR

Letting rooms

5 standard  doubles

1 standard double not en-suite in main house

Guest bathroom

2 standard double/twin

2 singles in annex

SECOND FLOOR

1 studio with 2 bedrooms, living room and bathroom.

There is also a cellar which is currently used for storage.

TENURE
We are advised the business is being sold as a Freehold opportunity.

HOURS
The business is opening hours-

The hotel is open 24/7, taking bookings all year round.

The restaurant is open at breakfast and in the evening.

STAFF
The business is run and managed by two directors with the help of 3 part time members of staff.

FINANCIAL PROFILE
The business generates a turnover in the region of £200,000 per annum.

Gross profit 88%

Tenure: Freehold

Listed by: Hilton Smythe
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