Public House And Hotel In Cheltenham Gloucestershire | | Cheltenham Gloucestershire | | Public house, Function Room, 12 Letting Rooms Cheltenham, Gloucester T/O: £484,000 GP: 50% Scope to develop further Ideally located in town Popular concern | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 70668
ADVERT IMPRESSIONS : 8,813 TIME(S) | | | | BUSINESS SECTOR: | Hotels / Pubs / Accom | | TRADE TYPE: | Hotels | | SALE: | Agent Sale | LEASEHOLD: | £239,000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | Location
The Midland Hotel occupies a prominent position, ideally located opposite the railway station in Cheltenham, Gloucestershire. The business benefits from a high footfall and much passing trade. There is ample car parking in the area and there is a bus stop close by. The Midland Hotel sits at the heart of this popular spa town and is surrounded by complementary shops and businesses. Cheltenham is a large town situated on the edge of the Cotswolds, and has been a popular tourist destination since the discovery of the mineral springs in 1716. Another popular attraction is the world-famous Cheltenham Racecourse, which lies approximately 1.5 miles from the business. The town is easily accessible with the M5 motorway approximately 3 miles to the west.
Business History
Preferred Commercial is delighted to offer for sale this popular public house, hotel and function venue, which was established in 1847 and which has been in our clients' careful hands since 2007. The hotel is only now being placed on the market due to our clients' other business commitments. The business operates 7 days a week as a 100% wet sales public house with 12 letting rooms and a large function room for 120 covers, ideal for weddings and parties. The hotel generates a turnover in the region of £350,000 per annum with a gross profit of 49.1%. During the race week in March, Betfair rebrand the business as The Betfair Arms in a lucrative sponsorship deal, which turns over £90,000. A new owner could increase turnover further by introducing food, promote the use of the function room and perhaps obtain a wedding licence. There is already a quality web site in place which includes on-line booking facilities. The public house side of the business is popular with locals and there is scope to introduce pool and darts teams. We feel this represents a unique opportunity to acquire a multi-faceted business in such an ideal location and with scope for future growth. Early discussions with Preferred Commercial must come highly recommended.
Financial Details
T/O: £350,000 approx.
GP: 49.1%
Opening Hours
Mon - Sat: 12.00pm - 11.30pm
Sun: 12.00pm - 10.30pm
Accommodation Details
Well-presented 3-storey detached property, situated on a busy road. Briefly comprising:
Ground Floor
• Lounge with carpeted floor, a mixture for fixed and loose seating, large flat-screen TV, games machine, wooden bar servery with EPOS cash register, 11 points of dispense and optics display
• Main bar area with exposed wooden floorboards, tables and chairs, 4 x large flat-screen TVs, games machine, pool table, dartboard, large bar servery with 16 points of dispense, triple chiller, optics display and EPOS cash register
Lower Ground Floor
• Commercial grade kitchen with 6-burner hob and oven, griddle, fryer, microwave ovens, stainless steel work surfaces, stainless steel extraction system, preparation area with 2 x stainless steel sinks and commercial dishwasher
• Function room with capacity for 120 seated or 200 standing, carpeted floor with wooden dance floor area, recessed ceiling spot lights, wooden bar servery with 15 points of dispense, optics display, drinks chiller and EPOS cash register
• Ladies WC
• Gents WC
• Office
• Beer cellar with new cooling system
• Freezer store
First Floor
• Bathroom with shower, WC and wash basin
• Separate WC
• 7 x letting rooms - a mix of double, twin and triple rooms
Second Floor
• Bathroom with shower, WC and wash basin
• 5 x letting rooms - a mix of double, twin and triple rooms
All rooms have hand wash basins and TV
External
• Enclosed patio area to front with wooden benches
• Yard to rear
• Car park
Tenure
Leasehold
Original length:10 years
Remaining: 2 years
Review: every 3 years
Rent: £32,000 per annum | | | | | | FOR SALE | | | | | REFERENCE: | 2887 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
