SOLD / WITHDRAWN
09/06/22
453
Sun_Street_hitchin / Rightbiz
LOCATION: |
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The Premises are is located in the thriving town of Hitchin, Hertfordshire. Hitchin is an historic market town with a population of circa 33,350 and is accessible to A1 via A505 and A602 and also Luton airport which is only a few miles away. |
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DESCRIPTION: |
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There is an arch from the main street which leads to the parking area to the rear of the Hotel/restaurant. The main restaurant is entered from the front and is in 3 main sections. The first section is where breakfast is served for the hotel guests and is positioned to the front of the building, this area is the first area of three for evening dining. Past this area is the reception which also has access to the toilets. After the initial dining area is a second area with beams to the ceiling and has access to the kitchen and rear dining area/private hire area. The stainless-steel kitchen has: Freezers, Fridges, Sinks, Stainless steel preparation tables, Stainless steel shelving, Hobart oven, Meat slicer, 10 burner stove, Extractor fan, Grill, Wega coffee machine, Microwave, Hobart dishwasher. The rear dining area/private hire area has the bar with drinks fridges, optics, glass washer, shelving. There is a stage to the rear and a door that leads to the rear lobby to the car park.
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BUSINESS: |
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The main hotel is is set above the restaurant and there is further accommodation the other side of the archway. All rooms have en-suite facilities, some rooms have four poster beds, all rooms in the main hotel area have oak furniture and wardrobes. The newer wing has 8 bedrooms all with en-suite facilities. There is CCTV to the ground floor area and public spaces. Car park - there are 7 spaces included in the sale with the possibility to lease more space from the vendor
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USES: |
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Class A |
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PREMIUM: |
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£135,000 Guide price for the benefit of the lease, fixtures, fittings and goodwill |
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RENTAL: |
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We are advised the business is being sold as a Leasehold business opportunity, a new lease is to be written and the terms of that lease are to be negotiated. With rent payable at £130,000 per annum. |
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BUSINESS RATES: |
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To be confirmed |
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UPPER PARTS: |
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Accommodation having 28 en-suite rooms, all finished to a very high standard. These offer Italian elegance combined with modern comforts. Ideal for a business stay in Hitchin, or for a romantic Hitchin break, La Bella Vita’s Hotel provides guests with luxury at a very affordable price |
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COVERS: |
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120 covers |
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STAFF: |
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The business is run and managed by our client, with the help of several part time/full time members of staff including cleaners, waiting staff, reception staff and kitchen staff |
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TURNOVER: |
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Generated an advised turnover of circa £443,157 as of the 2017 accounts, with a gross profit of £245,562, a net profit of £42,317 and an adjusted net profit of £73,292.
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ASSETS: |
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The business is worth in the region of £200,000. |
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LOCAL AUTHORITY: |
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North Herts Council |
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REFERENCE CHARGE: |
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London Properties charges a fee of £200 plus VAT for taking up references for proposed tenants. This fee is non-refundable after the references have been taken up, whether they are accepted or not by the Landlord |
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HOLDING DEPOSIT: |
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A holding deposit will be required to secure the property the deposit will buy a period of exclusivity and will be held in the London Properties client account |
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AGENT NOTE: |
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London Properties for themselves for Lessors, Vendors and their agents, give notice that:-
1. These particulars provide a general outline only. It is advised that prospective purchasers or tenants make their own enquiries.
2. These details do not constitute any part of an offer or contract.
3. All statements or details contained within these particulars are without any responsibility on any part, to London Properties.
4. All rent prices, fees and charges are quoted exclusive of VAT
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VIEWINGS: |
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Through London Properties by appointment only |
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Do not share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Send a test amount before you consider handing over a large amount of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.