SOLD OR WITHDRAWN FROM THE MARKET
Advert pending deletion

Popular Hotel With Owner Accommodation Llandudno

Llandudno, Conwy

Status

SOLD / WITHDRAWN

Date Submitted:

01/04/19

Advert ID

240505

Reference

6737 / Rightbiz
Freehold: £575,000
Annual Turnover: £101,789
Annual Net Profit: £49,613
    Family Run Detached Hotel 2 mins From the Seafront

    8 Double Rooms, 2 Single Rooms & 1 Family Suite

    2 Bedroom Owners Accommodation

    **Year End Accounts March 2019**

    Annual Turnover £101,789 (Audited 31.03.2019)

    Gross Profit £76,154 (Audited 31.03.2019)

    Revenue from Out of Season Holiday Lets

    Rental Income of £16,250 Per Annum From Restaurant Let

    Accounts Available After Viewing

    Fantastic Online Reviews

    EPC - F

Description:
REF 6737 – Popular Hotel With Owner Accommodation - Llandudno
Blacks Business Brokers are pleased to bring to the market this substantial 11 bedroom hotel, which is close to the promenade and many tourist attractions in the busy tourist destination of Llandudno.

INTRODUCTION
Our client has been in ownership of the hotel since 2006 and the business has traded steadily over that time. The business is traditionally an 11 bedroom hotel however our client recognised an area of growth and now offers the holiday as a holiday let as there are only a few properties in the area who can accommodate large groups. In 2018 bookings for hotel and holiday let were split evenly currently the demand for holiday let far outstrips that for the hotel business with substantial bookings into the future.

LOCATION
Llandudno is a seaside town in Conwy, North Wales and is the largest seaside resort in Wales. By car the A55 coastal expressway links seamlessly with the motorway network form the North West. From the Midlands and South of England use the M6,M5 and M1. By rail there is a direct service to Llandudno.

REASON FOR SALE
After owning the business since 2006 our client has decided to move out of the industry to explore other business interests.

LEASE
The property is freehold.

STAFF
The hotel is a family run operation.

FINANCIAL DETAILS
Using the building as a holiday let could generate £900 per day if fully occupied.
The 36 cover fully licensed restaurant on the lower ground floor is currently tenanted. Our client receives an income of £16,250 per annum on a 15 year FRI lease that started in 2011. The lease has no break clause. Potential income from the hotel if all rooms were occupied could be as much as £500,000 per annum. Currently when the hotel is fully occupied . Current turnover as verified by the Year End Accounts March 2019, Annual Turnover £101,789 (Audited 31.03.2019) Gross Profit £76,198 (Audited 31.03.2019). Accounts are available to view.

SUMMARY
The hotel is highly rated on hotel booking sites such as trip advisor and the feel overall is welcoming and traditional. The business would ideally suit a buyer who is looking to relocate to this part of the country and look pushing the business forward. Our client has carved a niche in the area with the holiday let business model and corporate clients have now shown interest for corporate training days and team building sessions, this is an area that or client sees good growth as an alternative to the traditional customer type.

Accomodation:
BUILDING LAYOUT AND DESIGN
The versatile guest accommodation includes:
8 x Double Letting Rooms
2 x Single Letting Rooms
1 x Family Suite with 2 Bedrooms and Shower Room.
The owner’s accommodation has 2 bedrooms and a shower room. There is a conservatory with access to the garden with seating and decked areas plus hot tub.

Ground Floor
Hotel Reception with laminate flooring with a door leading into the Guest Lounge leading into the fully licensed bar with part wood panels and WC.
The Main Hall has stairs from the Reception Hall to the upper levels. There is a private lounge. There is a 20 cover dining room and fully fitted kitchen and prep room. Guest Room [1 ] is also situated on this ground floor.

First Floor
Guest Room [2] and [3] - Double rooms with en suite
Second Floor
Guest Room [4] single room with en suiteGuest Rooms [5],[6],[7] - double rooms with en-suiteStairs leading half landing leading to owners 2 bedroom private accommodation with lounge and shower room.
Third Floor
Guest Room [9A] - Single room, Jack and Jill bathroom leading to Guest Room [9] - Double roomGuest Room [10] - Double room with en-suite
Guest Room [11] - Double room
Fourth Floor
Guest Room [12] Family Suite with 2 bedrooms
The building benefits from car parking for up to two cars.




Contact Agent
Advert Reference:
6737 / Rightbiz
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SOLD OR WITHDRAWN FROM THE MARKET
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