Thriving 58 Bedroom Hotel In Margate Kent For Sale

Business description

Preferred Commercial is delighted to offer for sale this 58-bedroom hotel, which was established in 1900 and which has been in our client's careful hands since 1973. The hotel is only now offered to the market due to our client's wish to retire. The business trades all year round and generates a turnover in the region of £450,000 per annum with a gross profit of 70%. Glenwood Hotel offers 58 en-suite letting rooms, on a bed and breakfast only basis. The hotel boasts a spacious bar area, dining room and commercial kitchen. The business enjoys high levels of trade from coach trip companies. Although our client has previously hosted weddings and functions, these services has never been advertised, leaving tremendous scope for a new owner to offer these services. The turnover could also be increased by embarking on a modest marketing campaign. The business has a comprehensive website in place advertising the business and includes online booking facilities. The premises have been fitted to a high standard and are well-maintained throughout. This is an ideal opportunity to acquire an already busy hotel with huge scope for future development. Early negotiations with Preferred Commercial must come highly recommended.

Property information

Property:

Freehold

Location:

The Glenwood Hotel occupies substantial 4-storey premises, ideally located in a prominent trading position in a sought after area in the town of Margate, Kent. The premises benefits from ample on-street parking are situated just off the seafront. The business is surrounded by a densely populated residential area and the town centre is just a short walk away. The town's amenities and attractions are nearby, including Margate Old Town and the promenade. The area is well-served by public transport with numerous bus stops and a railway station within easy walking distance. Margate is a popular seaside resort, with many restaurants, cafes, bars and independent shops. The premises are easily accessed via the A-road network and the M2 motorway. Ramsgate lies approximately 5 miles to the south, while Canterbury is approximately 15 miles to the west.

Premises details:

Substantial 4-storey mid-parade hotel premises with 58 en-suite letting rooms. Briefly comprising:

Ground Floor
• Reception with small desk, computer system, filing cabinet and office
• Tearoom and reception area with seating and counter
• Games room with pool table
• WC with wash hand basin
• Lift to all floors

Lower Ground Floor
• Dining room with stage and seating
• Bar area
• Commercial kitchen with a range of units and appliances, refrigerator, freezer, ovens, fryers, microwave oven and cutlery

Letting Rooms
Split over first, second and third floors
• 20 x double bedrooms with en-suite facilities
• 23 x single bedrooms with en-suite facilities
• 15 x twin bedrooms with en-suite facilities

Business Operation

Trading hours:

All year round