The Old Victorian School Leases Ltd

Overview

The Old Victorian School Leases Ltd is a boutique holiday-let and serviced accommodation business holding the long leasehold interests in seven fully refurbished apartments within a characterful Victorian school conversion in Newark-on-Trent, Nottinghamshire.

The business is offered via a 100% share sale, giving the purchaser full ownership of the company that holds the seven individual apartment titles. Each apartment benefits from its own secured mortgage, all of which remain within the company structure. This arrangement significantly reduces costs such as stamp duty, legal fees and lending charges, providing buyers with a tax-efficient and cost-effective acquisition route.

The portfolio has a proven track record of short-term and serviced accommodation bookings and presents an excellent opportunity for a new owner to step into a turnkey, fully managed operation with minimal disruption.

Business Highlights

- Annual gross revenue of approximately £146,000
- Seven fully refurbished apartments, each held on a 999-year leasehold with its own individual title
- Asset-backed opportunity with a total estimated property value of £1,260,000
- Net equity position of approximately £401,100 after secured lending
- Healthy EBITDA of around £70,000, at a margin of approximately 47.6%
- Annual occupancy of 75%
- Fully managed, hands-off operation with a management structure already in place
- Offered as a tax-efficient 100% share sale

The Business

The trading model is built on short-term holiday and serviced lets, marketed across leading booking platforms. The portfolio attracts a wide range of customers, including contractors and companies seeking short-term housing or relocations, families and friends visiting Newark, business travellers requiring extended stays, travel managers and PAs arranging staff accommodation, insurance companies housing clients temporarily, and individuals between house moves or property refurbishments.

Each of the seven apartments has been thoughtfully curated to provide a true home-from-home experience. Interiors are bright and inviting with heritage character, and sleeping arrangements are flexible - typically two double bedrooms plus a sofa bed, accommodating up to five guests. Apartments feature cosy living areas with smart TVs, fully equipped kitchens, modern bathrooms with high-quality fittings, complimentary Wi-Fi throughout, and free off-street parking for guests.

Guest feedback consistently highlights the apartments as comfortable, well-located and immaculately clean. Guests benefit from 24/7 self check-in and check-out, high-quality towels and linen, deep cleaning between stays with a mid-stay linen service for longer bookings, weekly and monthly discounts, flexible cancellation policies, and sole access to the entire apartment for each booking. Income is diversified across the seven units, reducing reliance on any single apartment.

Location

The apartments are located in Newark-on-Trent, a popular and well-connected market town in Nottinghamshire.

Newark benefits from excellent transport connections, with two train stations offering direct services to London in approximately 75 minutes, alongside easy road access to the A1 and A46. There is strong business demand from local industry, logistics and contractors working in the region. The town also has considerable tourist appeal, with attractions including Newark Castle, the market square, and proximity to Sherwood Forest and Lincoln Cathedral drawing visitors year-round. A vibrant town centre with restaurants, cafes and retail outlets ensures consistent guest demand from both leisure and corporate markets.

Premises & Tenure

The business occupies a striking Victorian school conversion in Newark-on-Trent, comprising seven individually designed apartments. Each apartment is fully furnished and equipped to a high standard, ready for immediate continued operation. Each of the seven units is held on a 999-year leasehold, with each carrying its own individual title. The secured mortgages on each apartment remain within the company structure as part of the share sale.

Financial Overview

The financial figures below reflect the first year of trading, during which there was a phased rollout - initially three apartments operating for approximately six months before expanding to all seven units. The current structure now shows full-year trading potential across the entire portfolio.

- Annual gross revenue: £146,180
- Operating expenses (before finance): £76,650
- EBITDA: £69,530 (a margin of approximately 47.6%)
- Profit before tax: £33,367
- Net profit: £32,645 (part-year; seven units now operational)
- Annual occupancy: 75%
- Total estimated property value: £1,260,000
- Net equity position: approximately £401,100 after secured lending

Growth Potential

The business offers a number of clear routes to growth:

- Applying dynamic pricing strategies to maximise revenue across peak and off-peak periods
- Developing corporate contracts with local businesses, logistics firms and contractors
- Expanding direct booking channels to reduce platform commission costs
- Benefiting from full-year trading income across all seven units, now fully operational

Reason for Sale

The business is offered to the market as a 100% share sale of The Old Victorian School Leases Ltd, providing a new owner with full ownership of the company and all seven property titles.

Next Steps

This is a compelling, asset-backed acquisition opportunity in the growing short-term and serviced accommodation sector, offering a genuine turnkey proposition with an established management structure already generating revenue. Interested parties are encouraged to make contact to learn more. Full details are available in the Information Memorandum.