Thriving 17th Century Hotel In Prime Iow Location For Sale

Business description

The particular highlights of the business are:
- A well established business.
- Good loyal clientele with many repeat booking.
- Fully equipped business that has been refurbished to a very high standard.
- Turnover in excess of £195,000 with a gross profit of £182,000. (See financial summary below).
- A business with great potential to expand with additional rooms and wedding/advents.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for couple or partnership.
- Very low overheads.
- Business enjoys superb local reputation.
- The concern provides 4 star accommodation which has been refurbished to a very high standard.

History
Phoenix Business Transfer Agents are delighted to place onto the market this first class hotel which has been established since 1642 as a hotel. The business has been in the hands of the current owner since 2009 and has been refurbished to a very high standard. He now wishes to sell due to retirement.

Services
This very good business opportunity provides 4 star accommodation with newly refurbished 3 bedroom owners accommodation.

Staffing
The concern employs 2 part time staff.
Owners Role
The owner is involved in the day to day running of the business.

Marketing
The owner markets the business in all the local web I.O.W sites and has a website.

Competition
As far as competition is concerned there is another similar business some 1/4 miles away

Market
The client base consists of Locals, Tourist and commercial clients.

Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include opening the bar area all day.
• Increasing the product line to include evening meals.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
• With an enhanced website.
• For 3 months 2 bedrooms have been closed off due to an extension of the property. Now that this extension has been completed the earnings of the business have increased.

Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.


The present annual turnover is £195,000 with a gross profit of 90%. The wages are £12,000. The present value of the stock is £3000.
The potential turnover of the business within the next 2 years is forecast to reach £300,000 pa given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.

Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller.

Property information

Property:

Freehold

Living accommodation:

To the side is a large patio area. To the rear is a large owners 3 double bedrooms living room, kitchen/diner and 2 family bathrooms accommodation which has been refurbished to a very high standard.

Location:

- Situated in a quiet street in historical I.O.W. Capital town of Newport.
- Excellent parking facilities.
- Surrounded by densely well populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area with many Hotels and shopping area.
- Well linked with the rest of the I.O.W by road.
- Newport Quay and main shopping area all lie close by.
- Area enjoying much growth and re generation.
- A lifestyle area and tourist haven.
- Excellent local demographics for this type of area.

Premises details:

The property is end terraced. There are 12 rooms all on suite. There are 2 family rooms.

Business Operation

Expansion potential:

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include opening the bar area all day.
• Increasing the product line to include evening meals.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
• With an enhanced website.
• For 3 months 2 bedrooms have been closed off due to an extension of the property. Now that this extension has been completed the earnings of the business have increased.

Competition / Market:

As far as competition is concerned there is another similar business some 1/4 miles away.

Reasons for selling:

He now wishes to sell due to retirement.

Trading hours:

Open 7 days a week, 24 hours a day.

Employees:

The concern employs 2 part time staff.

Years established:

369years

Other information

Furniture / Fixtures value:

£40,000 (included in the asking price)

Inventory / Stock value:

£3,000