Hotels and Motels for sale in Hampshire

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Stunning Hotel & Restaurant

Hampshire, England

  • Leasehold Price: £299,990  Price Reduced arrow_drop_down
  • Turnover: £709,331
  • Gross Profit: £531,430
Seller Reference: B05274
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Business Description
 
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Seller Reference: B05274
Request Details
Business Description
Business
Hilton Smythe are delighted to present to the market a Waterfront Hotel and Restaurant that has been trading successfully in its current form for nearly a decade.  A rare opportunity to acquire the business has arisen as the current owners now have an urgent health issue with which to contend.  Over £200,000 of assets are included – everything needed to run this successful enterprise.

The specially designed building sits right on the waterfront.  The business comprises of a restaurant, a deluxe 10 bedroomed hotel, a daytime bar and café serving bistro style meals during the day and excellent, locally sourced, full restaurant meals in the evening.

There are opportunities to add further hotel rooms or a conference centre or even a gym.  Events are not currently a focus but could be very beneficial to the business.  The new owner will have choices of where to expand.

The restaurant offers a fine range of British cuisine.  Locally sourced ingredients are incorporated as much as possible, giving a wide range of menu items, from Thai Crab Cakes to Roast Belly of Pork to Toffee Apple Pie.   The addition of weekly specials has increased footfall and mid-week sales levels as well as introducing a new vibe which has seen many residents returning.

The bar offers an extensive list of wines, beers, cocktails as well as hot and cold drinks.

The hotel currently offers a choice of 10 individually designed rooms, all with delightful views, mainly overlooking the water. Some offer large balconies, and all are en-suited and finished to a high standard.  A 9-point score on booking.com, encourages online bookings, though most bookings come from repeat customers, local corporations and the businesses’ own website.

Over the past year most of the hotel has been upgraded with additional facilities and re-decoration.  The Kitchen, restaurant and office have all benefitted from new equipment and a vast increase in storage facilities.  Bringing in new systems has helped enhance the workability as well as the turnover of the business.  Altogether, a make-over that was long overdue.

Turnover of £1 M is the next achievable threshold.  This can be reached by building on the sound foundations established over a decade and uplifted in calendar 2019.  Incorporating any of the following modifications would accelerate the rate of growth:


  • Increasing available rooms from 10 to 15,

  • Increasing the hotel room pricing structure and offering higher end decorated rooms / suites with improved facilities,

  • Adding an available apartment in the building as a luxury hotel apartment to let on short- or long-term arrangement,

  • Developing an unused ground floor area into a corporate meeting room would increase income for the hotel, restaurant and bar,

  • Develop new relationships with tour operators and prearranged groups to the area for set lunches, afternoon teas and events,

  • Promote the restaurant and terrace space for more functions, weddings and family gatherings,

  • Further develop the website booking facility, social media platforms and local advertising.


This business is priced to sell quickly, and we strongly advise early viewing to avoid disappointment.

Location
The Hotel and Restaurant occupies a prominent waterfront position and has ample free parking for its guests.  A nearby town offers all amenities and all major suppliers and service providers are within a fifteen-mile radius.

Premises
All the fixtures and fittings required to run this efficient business are included in the sale price and the property has been maintained to a high standard. The inventory is fully comprehensive.

Tenure
The business is being sold as a Leasehold with 16 years remaining on a 25 year lease paying £100,000 per year which includes the buildings service charge.

Hours
Seven days a week, 365 days a year.

 

Staff
A great team runs the business with little input from the current owners.  6 full time staff and 15 part time staff cover the day to day running of the business.

Financial Profile
The annual turnover for 2018 – 19 was £710,000 with an adjusted net profit of over £90,000. The 2019-20 turnover is showing an increase of 9% for the first six months.

The turnover is achieved in almost equal proportions between the accommodation, restaurant and bar.  The new buyer must also pay a £25,000 rent deposit held with the landlord.

The lease has 16 years remaining and the rent, service charge and business rates total £100,000 per year.  A reduction in business rates will see this figure drop by £6,000 during the 2020 financial year.

Tenure:
Leasehold
Listed by:
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