TREBARWITH HOTEL, NEWQUAY CLIFF TOP HOTEL FOR SALE IN CORNWALL/DEVELOPMENT POTENTIAL

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1 TREBARWITH HOTEL, NEWQUAY CLIFF TOP HOTEL FOR SALE IN CORNWALL/DEVELOPMENT POTENTIAL

2 SUMMARY Stunning cliff-top position with far-reaching views of the beach 3* AA 80% and run seasonally so closed in the winter 42 letting bedrooms, many with ocean views Restaurant for 100, spacious bar/lounge and a small cinema An indoor swimming pool with onsite dive school and surf schools Potential for redevelopment for residential (subject to obtaining the relevant planning consents) 1.75 Million - Freehold Newquay is famous as the UK s surf capital and is blessed with stunning coastline, bays and inlets, miles of sandy beach and a vibrant food scene, including the new Rick Stein restaurant on Fistral Beach. The Trebarwith sits on top of a cliff above Towan and Tolcarne beaches, part of Newquay Bay and even has its own steps down to the sand so for guests it couldn t be easier to enjoy the delights of north Cornwall's coastline. Operated as a family business since 1964 our clients run an all round hotel with a 3* 80% grading from The AA, but only for the season, taking 4 or 5 months off throughout the winter which allows them to make a comfortable living and to enjoy the lifestyle that the south west offers. Newquay is easy to get to, it is only 8 miles from the A30 and it is not far from the city of Truro either, the administrative capital of Cornwall. There is a railway station that links to the mainline and to London and Newquay airport has daily flights to London Gatwick and Manchester all year round as well as London Gatwick and Birmingham during the summer which makes getting to and from this part of the world so much easier. In fact, increasingly there is a culture of working from home with trips to meetings on plane or train, it certainly helps the work life balance to really enjoy this part of the world. My client purchased the hotel in 1964 and it is currently run by the third generation of the family. It has changed a lot since it was first acquired, they built a swimming pool, there is a dive school using the facility, and they rent a space to a surf school in one of the adjacent outbuildings, all of which helps to expand the clientele and extend the season. It is a very short walk to Newquay High Street and the harbour is in the adjacent bay with all of the traditional attractions of the Cornish fishing village so it is a great place to base yourself. With the world famous Fistral Beach just over the headland it s easy to see that the location ticks so many boxes.

3 DEVELOPMENT The Trebarwith is likely to be of interest to developers and we welcome that interest as well as from those looking to continue to trade the hotel. The site has possibilities for a number of alternative uses including residential or perhaps healthcare, as well as remaining as a hotel. Newquay has seen a lot of development and we believe there is a reasonable prospect of obtaining consent for alternative use, subject to securing the necessary planning permissions. Please see the planning notes later in the sales details. THE PROPERTY Built around 1890 the building has been altered and extended over the years. Predominantly made of brick, the elevations are part rendered and the property has both pitch-tiled and flat roofs. It is laid out over ground, first and second floors. PUBLIC AREAS There are wide front doors leading to the entrance hall with reception on the right, with two offices behind. Beyond reception is the bar with open plan lounges seating for about 100, the sun room on the front has views over the gardens to the sea. The lounge also has a dance floor and a viewing area for the swimming pool. To the left of the entrance hall is the restaurant with fabulous sweeping views out across Newquay Bay. Stylishly decorated with powder blue walls and ceilings and white plaster work, strip pine floor and space for around 100 guests. An unusual quirk is the cinema, adjacent to the bar lounge. The family bought cinema seats which were being sold off by Rank, so the room feels like a dedicated cinema and seats around 45.

4 LEISURE FACILITIES With the beach and stunning coastline on the doorstep there is plenty to see and do outside, but inside there is a dive club run by an external provider and a surf school rents a unit on the site next to the car park so there are other activities available which generates new trade for the hotel. In addition to the indoor swimming pool (approximately 42ft X16ft) there is a sauna, some poolside relaxation space and changing rooms. LETTING BEDROOMS 42 letting bedrooms to sleep approximately 84 guests (34 double or twin, 3 single and 5 family rooms). Each room is en suite with a direct dial telephone, Wi-Fi, TV with Freeview, radio alarm clock, tea and coffee making facilities and hairdryer. Many of the rooms have a sea view of course which is a tremendous advantage both in terms of occupancy, rate and repeat business. SERVICE AREAS Large commercial kitchen with wash up area. Walk-in deep freeze. Various stores. STAFF ACCOMMODATION 6 singles sharing 2 shower rooms. A selfcontained flat with 2 bedrooms, bathroom, living room and kitchen, currently occupied by the Night Porter. OWNERS ACCOMMODATION The owners live in an adjacent first and second floor maisonette which was created out of the upper floors of a house when the ground floor became part of the swimming pool. The accommodation comprises of 4 bedrooms, 3 en suite, kitchen and living room with a ground floor front door onto Trebarwith Crescent.

5 OUTSIDE Passing under the welcome arch for the first time you d need to be pretty cynical not to catch your breath on seeing the view. The formal gardens and terraces wrap around the tarmac car park, paths weave through the palm trees and around the flower beds to 3 sunken terraces, all with stunning views out over the ocean. There are steps down from one of these terraces to the beach. To the right, and around the other side of the hotel there is a row of single storey buildings. One is a games room including a table tennis table, another is let to the surf school (current rent 300 per calendar month paid all year round) and they have an entrance off the footpath/cycle path at the rear which runs from the town centre down to the harbour. Behind the hotel there are various service areas which include access to the staff accommodation and there is also a service road that runs along the side of the tramway and provides access to the back of all adjacent properties on this terrace. Car park for 32+. When you arrive at the entrance to the site it is not immediately apparent that in fact the hotel incorporates 3 terraced houses adjacent to the main property and outside of the main gate. SERVICES Mains gas, electricity, water and drainage. The ground floor is heated by gas with the upper floors being electric. In the main, the property is double glazed. LICENCE The property holds a premises licence which allows the sale of alcohol to restaurant and residential guests. Insert source

6 TRADE Over the years the hotel has traded seasonally, opening at around Easter and closing at the end of October. In 2016 the intention is to open from March. Turnover for the 2015 season is in the order of 710,000 net of VAT. 95% of all guests are in Newquay on leisure which is no great surprise bearing in mind the hotel s location. PRICE 1.75 million for the freehold complete with goodwill and trade contents (according to inventory) excluding personal items. Stock at valuation. FINANCE We would be happy to introduce sources of finance if required. We recommend external independent advisors. TO VIEW All appointments to view MUST be made through the vendors' agents who are acting with sole selling rights. MILEAGES AND DIRECTIONS A30 / Indian Queens roundabout 8 miles, Truro 14, Padstow 17, St Austell 18, Plymouth 60, Exeter 80, London (via Bristol) 280. Heading South West on the A30 from Exeter turn right onto the A39 at Indian Queens, then left at the first roundabout on the A392 towards Newquay. After 7/8 minutes turn right onto the A3058 passing the boating lake on your left hand side. Turn left at the next roundabout onto Trenance Road and at the traffic lights with Berry Road turn left onto Mount Wise. Third right onto Marcus Hill, you ll be driving down towards the harbour and high street, and at the bottom of the road you dogleg straight across onto Trebarwith Crescent. Follow the road round and you will see the hotel in front of you.

7 PLANNING NOTES Cornwall Council as a unitary authority is still in the process of preparing a county wide Local Plan. In the interim, many of the planning policies that were used by the former six District Councils have been saved. The relevant planning policy for Newquay is therefore the saved policies of the Restormel Borough Council Local Plan. Where individual policies in this plan are no longer relevant, weight will be given to policies within the National Planning Policy Framework. The buildings on site sit outside the Town Centre Boundary but within the Development Envelope of Newquay and in an area of Local Architectural and Historic Value. Other relevant policies relating to the site are Policy 65 regarding the change of use or redevelopment of hotels, Policy 34 on the conversion and change of the use of buildings and Policy 71 relating to unidentified housing sites. FURTHER INFORMATION For further information or to arrange an inspection of the property, please contact: SIMON WELLS, HOTELS TEAM simon.wells@colliers.com NICK MORE, DEVELOPMENT CONSULTING nick.more@colliers.com SUBJECT TO CONTRACT Disclaimer Colliers International gives notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Colliers International has any authority to make any representation or warranty whatsoever in relation to this property. November 2015 Colliers International is the licensed trading name of Colliers International Property Advisers UK LLP which is a limited liability partnership registered in England and Wales with registered number OC Our registered office is at 50 George Street, London W1U 7GA.