an attractive traditional seaside hotel overlooking Morecambe Bay towards the peaks of the Lake District National Park

Transcription

1 For Sale CLARENDON HOTEL 76 Marine Road West, Morecambe, Lancashire, LA4 4EP an attractive traditional seaside hotel overlooking Morecambe Bay towards the peaks of the Lake District National Park

2 CLARENDON HOTEL A 19th Century character building of traditional construction and currently operated as a 3 star managed hotel business which is located approximately 5 miles from Lancaster City Centre. A 4/5 storey traditional end of terrace sea front hotel with stone elevations beneath various pitched slate tiled roofs and flat roofs. The property comprises 4 storeys above ground level and one at the lower ground floor level. It provides a total of 29 comfortable ensuite letting bedrooms. The business trades as a 3 star hotel and has the benefit of a resident s lounge bar, restaurant and two function rooms as well as a lower ground floor, public bar which attracts business from local residents. The restaurant which is known as The Waterfront, has recently been refurbished and offers sixty covers. Our clients believe that this facility could also be utilised as an afternoon tea room to further enhance trade for an incoming purchaser. To the side of the property is a substantial car park providing off road parking for approximately 20 vehicles. This established business has a solid trading history and a good local reputation with further potential for business development or alternative use subject to obtaining any necessary planning permissions or consents. Substantial unconditional offers are invited in the region of 1.2 million plus stock at valuation.

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4 Location The Clarendon Hotel is conveniently located just five miles north east of the City of Lancaster whilst the Lake District National Park is situated some 25 miles North West of the hotel and the M6 Motorway which provides vehicular access to Scotland and the South is approximately 10 miles away. Description The Clarendon Hotel is an attractive traditional seaside hotel which stands on the sea front overlooking Morecambe Bay towards the Peaks of the Lake District National Park. The property is believed to have been built in the 19th Century and is situated within the centre of Morecambe which is convenient for the various amenities and facilities that the town has to offer. The hotel is situated on a good sized plot with an adjacent private car park providing spaces for some 20 vehicles. The business which is being sold by our clients for strategic reasons offers an ingoing purchaser the opportunity to be able to take advantage of the steady trade and excellent reputation that has been built up over many years. The business benefits from a good range of income streams including a busy local s pub (40), resident s lounge bar (40), restaurant (60) in addition to the hotel accommodation and function business from the two function suites. Accommodation Public areas lobby entrance area leading to reception area with reception desk and administration office, open plan to lounge bar with bay window to front and views over Morecambe Bay with comfortable seating and feature bar servery areas (approx. 40). Waterfront Restaurant A recently refurbished contemporary style restaurant with contrasting furniture, 60 covers and a polished timber floor with views over Morecambe Bay. Our clients believe that the restaurant offers the potential opportunity for enhancing trade by offering afternoon teas as well as evening dinners for both residents and non-residents at the hotel. Function and Banqueting Facilities The hotel is able to cater for small parties and events with two function rooms. The Silverdale Suite and the Grange Room which are able to cater for up to 90 guests. Letting Accommodation There are a total of 29 en suite letting bedrooms which are well furnished and come with a colour TV together with tea and coffee making facilities, hairdryer, direct dial telephone and free WiFi facility for guests.

5 Room Configuration 7 Single bedrooms (2 with sea views) 10 Double bedrooms (3 with sea views) 2 Executive doubles with panoramic views of Morecambe Bay 3 Family rooms 1 Triple room with sea view 6 Twin bedded rooms (1 with sea view) Ancillary Areas Well-equipped commercial catering kitchen with preparation area, wash up area, dry goods store, cold store Laundry Room / Storage Beer Cellar Ladies and Gents WC s. Owner s Accommodation Self-contained owner s flat with potential to provide additional letting accommodation if required. Exterior To the front of the property is a lower ground bar and lower ground alfresco seating area and to the side of the hotel is a car park with space for approximately 20 vehicles.

6 The Business / Opportunity The business is currently operated under management and has shown a consistent and steady performance for a number of years, our clients are disposing of the hotel for strategic business reasons and it is felt that this creates an excellent opportunity for an independent owner operator who would like to take advantage of the existing business and add value by developing trade in a number of ways. Alternatively it is conceivable that the property may also be of interest to speculators and developers who would like to explore the possibilities of alternative use subject to planning and any other necessary consents. Trading Information We understand that the latest net turnover for the business for the year ending 21 February 2016 was in excess of 750,000, further detailed trading information will be made available to serious interested parties upon completion and signature of a Non Disclosure Agreement (NDA). The business is currently operated under management and benefits from a solid trading history with a good range of income streams. Given the established reputation of the Clarendon Hotel and its steady trade, it is likely that the business will be of interest to a wide range of buyers for continued use. However, given the size and layout of the building, together with its significant car park, it is conceivable that the property could also appeal to speculators and developers for alternative use subject to obtaining any necessary planning permission and other consents. Fixtures and Fittings We understand that all fixtures and fittings are owned outright. Licences The property has a premises licence granted by the relevant local authority. It is a requirement of the Licensing Act 2003 that properties serving alcohol have a designated premises supervisor who must be the holder of a personal licence. Prospective purchasers are advised to take appropriate specialist advice. Services We understand that all mains services are currently connected (untested).

7 Fire Risk Assessment We have assumed that a suitable and sufficient fire risk assessment has been carried out. Under the Regulatory Reform (Fire Safety Order 2005) this assessment needs to be recorded in writing where there are five or more employees. Business Rates The Rateable Value is 45,500 for the year commencing 1st April Tenure Details The property is held on a freehold title and the business is to be sold as a going concern. Asking Price We are inviting offers in the region of 1,200,000 for the freehold interest in the hotel which is to be sold as a going concern asset and business sale. Stock in Trade Stock in trade is to be purchased at cost in addition to the asking price on the day of completion. VAT If applicable VAT will be in addition to the selling price.

8 A591 A65 Lake District National Park A591 A685 A595 Windermere A6 M6 Kendal A590 A590 Grange-over-sands Arnside & Silverdale AONB A6 M6 Yorkshire Dales National Park CLARENDON HOTEL 35 Barrow-in-Furness Morecambe 34 Lancaster A683 Forest of Bowland AONB A65 33 Skipton M6 A59 Viewing Arrangements Viewing arrangements are strictly by appointment only through the Vendor s sole agent Bilfinger GVA. Under no circumstances should any party make an indirect approach to the business or the staff at the hotel. Energy Performance Certificate An energy performance certificate will be made available upon request. Contact Martin Davis Director Retail, Hotels and Leisure martin.davis@gva.co.uk David Creamore Director Retail, Hotels and Leisure david.creamore@gva.co.uk Disclaimer Bilfinger GVA is the trading name of GVA Grimley Limited, conditions under which particulars are issued by GVA Grimley Limited for themselves, for any joint agents and for the vendors or lessors of this property whose agents they are, give notice that: (i) the particulars are set out as a general outline only for the guidance of intending purchases or lessors and do not constitute, nor constitute part of, an offer or contract. (ii) all descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details, are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them. (iii) no person in the employment of GVA Grimley Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property. (iv) all rentals and prices are quoted exclusive of VAT Reproduced by courtesy of the Controller of HMSO Crown Copyright reserved. Licence No If applicable, with consent of Chas E Goad, Cartographers, Old Hatfield, Geographers A-Z Map Co Ltd and/or The Automobile Association. For identification purposes only. These particulars were produced in October 2016 with a mixture of current and archive photography.