Cedar Tree Hotel In Rugeley For Sale

Business description

Successful commercial hotel with extensive frontage to busy main road.

37 En suite bedrooms, Restaurant (60) and Function Suite (250). Plans in place for 14 townhouses (planning imminent). Net trading profits of £251,024 from a turnover £725,459. Set behind a magnificent old tree from which the hotel takes its name, The Cedar Tree is a traditional hotel attracting a healthy mix of both local and destination trade. The accommodation includes 37 well presented en suite bedrooms, a popular restaurant and extensive function facilities. The current owners have plans in place for 14 townhouses to be built within the curtilage of the site. Cordial discussions with the planning authorities are well advanced although and planning permission is imminent. Enjoying a prominent position with a long frontage to the A51, the hotel is just two miles east of Rugeley station, giving direct access to Birmingham and only 10 miles from junction 13 on the M6. The new M6 toll road passes close by and this greater accessibility is likely to bring increased economic prosperity to the area. Having established an impressive reputation and level of trade, the current Owners are now looking to pursue other business interests. The sale represents an excellent opportunity to acquire a busy and successful operation with considerable potential for further growth.

THE PROPERTY
The property is laid out as three separate buildings, all of which are brick built and part rendered. The main building is planned on basement (cellars), ground and two upper floors.

PUBLIC AREAS
Main entrance leading into Reception with counter and private office. Lounge Bar with bar counter and well-equipped servery behind. Adjoining is a spacious and attractive Restaurant with freestanding tables and chairs to seat around 60. To the rear is an impressive Function Suite with its own entrance from outside (also connecting with the hotel) comprising spacious Bar with long bar counter and well-equipped servery, separated by pillars and arches and two wide steps down to the main function room - a large open area for 250. Central dance floor and raised stage at one end. Meeting Room in adjoining building for 40 (theatre style).

LETTING BEDROOMS
37 Letting Bedrooms (33 double/twin, 2 single and 2 family units) to accommodate about 74 guests. There are 18 letting rooms in the main building and a further 19 in two adjacent buildings. All the rooms have en suite facilities, television, tea/coffee making equipment.

SERVICE AREAS
Main kitchen is well located between restaurant and function room with good stainless steel equipment including walk-in cold room, refrigeration room and dry goods store. Basement cellar for the bar and ground floor cellar for function room. Three boiler rooms.

OUTSIDE
There is a good sized car park to the rear of the hotel. To the right hand side of the site is a further car park.

SERVICES
Mains gas, electricity, water and drainage are all connected. Gas fired central heating to the hotel and annexe. Full air conditioning to the function room. Floodlighting.

LICENCES
Premises Licence

TRADE
Accounts supplied by the Owners' accountants for the financial year ending 31/10/08 show a trading profit of £251,024 from a turnover (net of VAT) £725,459. Further information will be made available following a formal viewing.

PRICE
£1.35 million for the freehold property complete with goodwill and trade contents (according to inventory) but excluding personal items. Stock at valuation.

MILEAGES
Rugeley 2 miles, Lichfield 7, Stafford 9, M6 (junction 11) 12, Birmingham 15.

FINANCE
Colliers Robert Barry 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.

Property information

Property:

Freehold