R R IC H A R D S O N H OT E L S W here M emori es A re M ade The Falmouth Hotel O N T H E I N S T R U C T I O N S O F M AT T H E W W I L D A N D M A R K B O U G H E Y O F R S M R E S T R U C T U R I N G A DV I S O RY L L P J O I N T A D M I N I S T R ATO R S O F R I C H A R D S O N H OT E L S LT D A N D F OW E Y H OT E L LT D
The Falmouth Hotel CASTLE BEACH FALMOUTH TR11 4NZ STUNNING BEACHSIDE LOCATION 3 ACRE SITE WITH DEVELOPMENT POTENTIAL STPP 71 EN SUITE LETTING ROOMS INDOOR SWIMMING POOL, EXTENSIVE FUNCTION/MEETING ROOMS NET SALES IN EXCESS OF 3.2M PA. OFFERS OVER 6,500,000 FREEHOLD
Location Falmouth is located on Cornwall s South Coast on the River Fal and has a resident population in excess of 20,000 although this is hugely increased as visitors flock to the many attractions of the area over a long season. It is Cornwall s largest port and commercial shipping is still an important industry while the port is also popular with cruise ships which bring high spending visitors to the town. Falmouth is located off the A39 and is also well linked to the rail network with three railway stations. The Falmouth Hotel was first opened in 1865 as the Great Western Railway was expanded into Cornwall. The hotel is an attractive and imposing building and has had a rich history, including being taken over for the war effort during World War II. The property was acquired by Richardson Hotels in 2004 and operates as an AA 3 star hotel with an AA rosette for fine dining. The property is set in 3 acres of landscaped gardens and has a prime seafront location, overlooking the wide sweep of Falmouth Bay and Castle Beach. On one side is the historic Pendennis Castle and, on the other, the view stretches down to West Cornwall. The property is within walking distance of the historic port and town centre.
R R IC H A R D S O N H OT E L S W here M emori es A re M ade The Property The property, which is a purpose-built former railway hotel, is Grade II listed and has accommodation arranged over up to five stories with stucco elevations beneath slate covered roofs. PUBLIC ROOMS The public trading areas comprise; entrance Hallway & Reception located next to the grand main staircase. Large Bar/Lounge (35) with excellent sea views leading to the restaurant (100). Up to 200 can be catered for a function when the room is connected with an adjacent private dining room. There are a variety of meeting rooms, Private Dining Room (30), Function Room (80) & Ball Room (100).There are also three meeting rooms at first floor with capacities of 10, 30 & 40. The service areas of the hotel are located at ground floor near the centre of the building. LEISURE FACILITIES Indoor swimming pool complete with Jacuzzi, sauna & two spa treatment rooms. > > T H E R I C H A R D S O N H OT E L S P O R T F O L I O T H E FA L M O U T H H OT E L
Letting Rooms There are 71 en suite letting rooms of which 42 have sea views. BEDROOM STYLES NUMBER Executive Inland Double 5 Executive Junior Suite 1 Executive Sea Facing Double 16 Standard Compact Double 10 Standard Inland Double 12 Standard Inland Single 2 Standard Inland Twin 9 Standard Sea Facing Double 11 Superior Sea Facing Double 4 One Bedroom Suite 1 Total 71
The Business Net sales of 3,229,604 were achieved in 2017 with an EBITDA of 364,031. KEY PERFORMANCE INDICATORS Number of bedrooms available 25,915 Number of bedrooms occupied 21,223 Occupancy rate 82% Accommodation revenue 1,607,134 ARR 75.73 REVPAR 62.02 TREVPAR 124.62 DEVELOPMENT POTENTIAL The property sits in a substantial plot of over 3 acres laid out as a mixture of gardens and car parking that which offers significant potential for additional development subject to the necessary consents. LICENSES Both a premises license and a wedding license are held. SERVICES We are informed that all mains services are connected. Heating and hot water are from gas fired boilers. LOCAL AUTHORITY Cornwall Council County Hall, Treyew Road, Truro, TR13AY
PRICE Freehold offers over 6,500,000 to include the loose fixtures & fittings (subject to inventory) and goodwill. Consumable stock to be purchased at valuation on completion. FINANCE Colliers International is able to assist prospective purchasers by introducing sources of finance if required. Whilst we do not charge the buyer for this service, we may receive an introductory commission from the lender or broker involved. TO VIEW All appointments to view MUST be made through the vendors agents who are acting with sole selling rights. The Falmouth Hotel DISTANCES Truro Plymouth Exeter London 11 miles 66 miles 98 miles 273 miles. All distances approximate.
Project Team For further information please contact: Ed Jefferson HOTELS AGENCY BRISTOL Peter Brunt DIRECTOR OF HOTELS AGENCY HOTELS AGENCY ALTERNATIVE MARKETS Julian Troup HEAD OF UK HOTELS AGENCY D: +44 117 917 2011 M: +44 7701 377 188 ed.jefferson@colliers.com D: +44 117 917 2062 M: +44 7885 096857 peter.brunt@colliers.com M: +44 7825 891 233 julian.troup@colliers.com DISCLAIMER Colliers International gives notice that these particulars are set out as a general outline only for the guidance of intending purchasers and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending purchaser 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. (February 2018) Colliers International is the licensed trading name of Colliers International Property Advisors LLP which is a limited liability partnership registered in England and Wales with registered number OC385143. Our registered address is at 50 George Street, London, W1U 7GA. Colliers International Ground Floor, Templeback 10 Temple Back Bristol BS1 6FL