NOTTINGHAMSHIRE – DISTINCTIVELY REFURBISHED 12 BEDROOM HOTEL AND RESTAURANT
Seller Ref:94270
For Sale
Retford, Nottinghamshire, England
NOTTINGHAMSHIRE – DISTINCTIVELY REFURBISHED 12 BEDROOM HOTEL AND RESTAURANT
Seller Ref:94270
Overview
Seller Ref: 94270
Description
Central location close to Retford market place
Detached 12 en suite bedroom hotel dating back to 1890
Main bar, restaurant, private dining area & function room
Private managers/owners apartment with lounge & kitchen
Tastefully renovated in 2017 from a former police station
Free of tie lease until 2037 – Net Turnover exceeding £420,000
Leasehold offers over £50,000
Leasehold Terms:
LEASEHOLD PREMIUM: Offers Over £50,000 to include goodwill. Stock at valuation in addition. The Property is held on a fully repairing and insuring lease agreement from a private individual, for a term of fifteen years expiring 2037, with statutory right of renewal. The lease falls within the security provisions of the Landlord & Tenant Act 1954 and is fully assignable. Rent £45,000 per annum paid monthly in advance. Landlords security deposit of £7,000. Fixtures & fittings are owned by the landlord and will remain for the use of a new operator providing a deposit of £15,000 is lodged. This deposit is payable by way of six consecutive payments of £2,500 per month. The lease is free of all trade ties. No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.
Number of Bedrooms:
13
Location Details:
Kings Park Hotel, Exchange Street, DN22 6BL
Is this business relocatable:
No
Is accommodation included:
Yes
Is stock included:
NA
Website address:
https://www.sidneyphillips.co.uk/business-detail/94270
Listed By:
