Hotel In Newmarket For Sale

Business description

AA 3 star (78%), 43-bedroom hotel . Excellent trading location just off Newmarket high street and walking distance from the famous gallops. Good mix of trade, including weddings and conferences, with leisure trade boosted by 38 race meetings and 30 days of bloodstock sales in 2012. Very profitable and growing turnover circa £1.4m to June 2011.

Property information

Property:

Freehold

Location:

Excellent trading location just off Newmarket high street and within walking distance of the famous gallops.

Premises details:

Predominantly flat-roofed, brick built structure with accommodation laid out over ground, first and second floors.

Planning consent:

Planning consent granted in 1994 to add 4 apartments to the roof, also extending the lift service to this floor. We believe this consent has now expired.

Business Operation

Expansion potential:

Additional floor (subject to planning) to create 4 apartments. Reinstate some meeting rooms to additional bedrooms

Reasons for selling:

This is the most westerly hotel in a small hotel Group. Owners wish to concentrate on remaining hotels located in Norfolk.

Other information

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