Hotels and Motels for sale in Reading

View the "The George Hotel Reading Berkshire RG8 7AJ" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.
 

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Adam Warren (Jan 2017)
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Leasehold Price: £179,950 Turnover: £404,215 Gross Profit: £355,657
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Business Description
Business
Hilton Smythe welcomes to the market this centrally located 17th century Grade 2 listed 27-bedroom coaching inn, all with en-suites, having separate bar and plenty of parking.

The current owners have run the hotel for the past 3/4 years, mainly concentrating on the accommodation side of the business, but also offering some events and conferences, together with a separate bar.

The rooms are in standard or superior style and are double, single, twin or Family rooms.

These also have the space for wedding receptions, birthday parties, or any other event. They can host functions for up to 120 people in their main function room and can accommodate larger numbers by combining this area with the restaurant.

Also, for parties of 50 or fewer, the restaurant offers a comfortable and convenient space.

There is also a range of facilities for meetings, conferences, training and other events, including exhibitions.

Their newly refurbished hall seats about 90 with tables, with additional space available and linking to their lounge/breakfast room, they can comfortably accommodate larger numbers.

Lastly, they have the village bar, which offers a range of drinks and ales and a varied food menu.

There is a website that can be found at http://www.georgehotelpangbourne.com/location.html and they are also on Facebook and trip advisor.

Presently they don’t push their conference or wedding facilities, so this would be a great way of increasing overall business and subsequently increasing the turnover and taking it to the next level.

The bar is also only run for the customers who stay at the hotel, rather than it being advertised as a pub/bar for the local area. With these improvements, together with more advertising and marketing this business really has great potential.

An internal inspection is very highly recommended to fully appreciate the space and great potential on offer.

Location
The George hotel is situated in the centre of Pangbourne, in a busy location. Pangbourne is a large village and civil parish on the River Thames in the English county of Berkshire.

Pangbourne has its own shops, schools, a railway station on the Great Western Line and a parish hall. Outside its grouped developed area is an independent school, Pangbourne College. In the 2011 census the population was 2978.

Pangbourne is situated on the A329 road 6 miles (10 km) west of Reading, its nearest town and 22 miles (35 km) south east of Oxford on the River Thames and is across the river from the small developed cluster of the Oxfordshire village of Whitchurch-on-Thames.

Pangbourne railway station is a minor stop on the Great Western Main Line and has stopping services to Oxford via Didcot Parkway and London Paddington via Reading two stops away.

The whole area is very easily and quickly accessed via the M4 motorway, East to London or West to the South West and Wales.

The property has been run by the current owners for more than 3 years now and has been established in the area for many years. They are now looking towards a well-earned retirement.

Premises
This is a very good-sized hotel with lots of space and potential.

On the ground floor:

• Main hotel reception
• Bar with up to 30 covers
• External seating
• Toilet facilities
• Dinning/breakfast room for circa 30 covers
• Private bar for functions
• Large function room for up to 140 covers buffet, or 80/90 sit down
• Private his and hers toilets for functions
• Large commercial kitchen
• Large utility/washroom

Various staff rooms including:

• Kitchen
• Toilet and shower room
• External laundry room
• Lots of storage

On the first floor you have 27 letting rooms all with en suite and of varying sizes for single, double or family occupation.

There is also parking for several vehicles to either side of the property and a range of garage outbuildings for storage/workshops etc.

There is an extensive range of equipment included within the sale as follows:

• Walk in fridge
• Pizza oven
• Tandoori oven
• Plate warmer
• Servery
• 6 ring gas cookers
• 9 ring gas hobs
• 3 freezers
• 2 small fridges
• 3 microwaves
• Griddle
• 2 deep fat fryers
• Stainless steel preparation tables
• Commercial dishwasher
• Newly fitted fire alarm system
• Substantial range of tables and chairs both for dinning and conferences/events
• Sofas
• Bar with counter and optics etc
• 27 furnished bedrooms with; TV’s, wardrobes, beds etc

Viewing a must to appreciate all that’s on offer in this great location close to Reading, London and Oxford.
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Tenure
We are advised that the business is being sold as a Leasehold opportunity on a 10-year lease, with 2 years remaining.

The current rent payable is £73,000 per annum.

Hours
Bar opening:

Monday to Friday - 12:00 pm to 3:00 pm and 6:00 pm to 10:30 pm
Saturday - 12:00 pm to 11:00 pm
Sunday - 12.00 pm to 1:00 pm

The Hotel is open 24 hours a day as needed.

Staff
The business is run by the current owners and 4 other members of staff, plus 1 full time.

Financial Profile
The hotel and bar turned over £404,215 for the year ended 31st March 2017 with a gross profit of £355,657.

According to the VOA website the current rateable value is £39,950, with rates payable of around £23,000 per annum.

Tenure: Leasehold

Listed by: Hilton Smythe

Find out more about this business opportunity.

 
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B04553
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