Purpose Built Hotel For Sale

Business description

Offers in Excess of: £7,250,000 Freehold

Purpose built hotel with 101 letting bedrooms. Stand alone ‘Branaghan’s’ Restaurant and Bar with 135 covers. Outstanding trading location close to junction 25 of M1. Obvious potential and opportunity to rebrand. The hotel was originally built around 1990 as a limited service hotel, however the adjoining restaurant and bar fulfills the food and beverage function. The hotel was constructed over ground and two upper floors, which are accessed by a number of staircases. The stand alone Branaghan’s restaurant is located in close proximity of the hotel, and offers the flexibility with the food and beverage function driven through this unit, as opposed to the hotel. Both properties are detached, having brick facing elevations beneath predominantly pitched tiled roofs. The Ramada Nottingham hotel has a prominent location, being close to junction 25 of M1 motorway, and is also easily accessible from both Nottingham (8 miles) and Derby (8 miles). The hotel is located just to the north of the village of Long Eaton, and is visible from the M1 motorway to the West. East Midlands Airport is approximately 8 miles distant, whilst with regard to tourist attractions these include the nearby Sherwood Forest, Chatsworth House in Derbyshire Dales and the Peak District. The hotel is strategically well located, being at the right side of Nottingham to take advantage of being both close to a motorway, as well as being close to a city.

THE PROPERTY
Both the hotel and Branaghan’s are detached and purpose built, and are well appointed throughout. Each are of traditional construction, having brick faced elevations beneath a pitched tiled covered roof.

THE HOTEL PUBLIC AREAS
The hotel is accessed from a drop-off point at the front entrance which leads into the lobby/reception area, which includes a reception desk and lounge area. Also at ground floor level are bedrooms, the breakfast room (42 covers), kitchen, laundry room, office and ancillary areas. Located at the first floor level is the main office.

MEETING/FUNCTION FACILITIES
Located at first floor, there are two meeting rooms: The Derby Suite (25 theatre style) and the Nottingham Suite (35 theatre style) or combined provide 75 theatre style. Both meeting rooms have air conditioning and sound proofing.

LETTING BEDROOMS
101 Letting Bedrooms (24 twin, 2 twin disabled, 53 double, 2 double disabled, 10 executive rooms and 10 family rooms). All the bedrooms have en suite showers, (accept for the disabled bedrooms which have a bath), satellite television, hairdryer, trouser press, direct dial telephone and tea and coffee making facilities.

BRANAGHAN’S RESTAURANT
Located opposite the hotel the property has a lobby area, substantial bar severy, open plan lounge area and adjoining dinning area which provides for in total 135 covers. To the rear of the building is the kitchen, cellar plant, storage and other ancillary areas.

OUTSIDE
The properties benefit from extensive car parking, with in excess of 150 spaces, with vehicular access around the hotel and the restaurant. The hotel car park has a coded exit barrier for security purposes.

SERVICES
Nottinghamshire County Council. Mains gas, water, electricity and drainage are provided to the site. Air conditioning is provided in the meeting rooms within the hotel and in Branaghan’s Restaurant.

LICENCE
We understand the property holds a current premises licence under the provisions of the licensing act 2003.

TRADE
The Ramada Nottingham generates predominantly accommodation driven business Monday to Thursday, principally from commercial driven business. The hotel however also attracts some leisure and weekend business, bearing in mind its close proximity to many tourist attractions, and also Nottingham, Derby and East Midlands Airports. The adjoining Branaghan’s Restaurant provides the food and beverage function to the hotel, and therefore attracts a healthy volume of residents, dining and local and repeat customers. Management accounts for the year ending March 2006 confirm a turnover (net of VAT) of £1,708,211. As recently as year end March 2004 the hotel showed operating profit in the region £640,000 off a turnover of £1,773,180 (net of VAT).

PRICE
Offers are invited in excess of £7,250,000 for the freehold interest complete with goodwill and trade contents (according to inventory). Stock at valuation.

FINANCE
Colliers Robert Barry is in touch with different brokers and lenders specialising in all aspects of the hotel sector, and will pleased to introduce them to prospective purchasers on request.

TO VIEW
All appointments to view MUST be made through the vendors' agents who are acting with sole selling rights.

Property information

Property:

Freehold