Dorset Freehold 16th Century Hotel Restaurant Tea Rooms Reduced For Sale

Business description

Business Details
The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business.
- Turnover in excess of £170,000 pa with a net profit of £11,000 (see financial summary below).
- A business with great potential.
- An easily run operation.
- Good loyal well trained staff.
- An ideal purchase for a national or regional chain of hotels, restaurants or coffee houses
- Low rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation
- The concern provides a superbly presented character 40 cover restaurant, tea room, bar and eight guest rooms.

History
Phoenix Business Transfer Agents are delighted to place onto the market this Freehold 16th Century House now trading as a Hotel, Restaurant, Bar & Tea Rooms has traded as a hotel since 1979. The building is Grade II listed and dates from circa 1550 and was originally a Merchant’s House. The business has been in the hands of the current owner since 1999 and they now wish to sell due to retirement.

Services
This very good business opportunity provides superbly presented character 40 cover restaurant, tea room, bar and eight guest rooms.

Staffing
The concern employs one full time and four part time staff. The wages are £34,860.

Owners Role
The owner is involved in the day to day running of the business.

Marketing
No marketing or promoting of the business has recently been undertaken as the business is well known and has an established website.

Competition
As far as competition is concerned there are four other similar businesses within Wareham’s town centre.

Market
The client base consists of a good mixture of local residents, tourists, business customers and private functions/events with excellent levels of passing trade.


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.
• The 9th bedroom on the ground floor currently in private use can be used as an additional guest room.
• There is space at the rear of the property that, with the necessary planning permission, an additional two guest rooms or separate private accommodation can be built; freeing up space for additional guest rooms within the main building.
• Promote and develop the use of the function room for private and business events.
• Increase the open hours.
• Becoming more efficient with staffing levels.
• With an enhanced website.

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.

Property Details

Ground Floor
On the ground floor there is a Restaurant/Tea Rooms with 40 covers, furnished in a traditional style with dark wood chairs and tables and includes Lawrence of Arabia’s favourite table. There is also Bar Lounge with bow window and inglenook fireplace with beamed ceiling, tables, chairs and sofas for up to 20 persons, beer store and fully fitted professional kitchen and customer toilets. The ground floor also has a function room suitable for up to 26 covers and one large double bedroom room (currently in private use).
First Floor
On the first floor there are eight guest rooms comprising of a mixture of family, double and twin rooms seven with en-suite bathrooms/shower rooms and an office. One room is a single with a private bathroom across the hallway.
Second Floor
On the second floor there is private/owners accommodation comprising of two small double bedrooms, fully fitted kitchen, lounge/dining room and bathroom.
External
To the rear there is a small enclosed garden suitable for serving teas in the summer. There is also rear access to a parking area and car port for 4 to 5 vehicles. There is also a 24 Seated Courtyard full of flowers fully enclosed which is used as a smoking area all year and also for dinning in the summer months very popular.

Equipment with Sale
All fixtures, fittings and equipment are included in the sale price and are valued at £52,500.

Financial Details
The present annual turnover is £175,711 with a gross profit of 76% and a net profit of £52,263. The wages are £34,860. The present value of the stock is £4,200.
The potential turnover of the business within the next 2 years is forecast to reach £250,000 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.

Property information

Property:

Freehold

Location:

- Situated in the town centre area of Wareham in Dorset.
- Prominent location on main arterial road.
- Excellent free parking facilities.
- Surrounded by a densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the A351, A352 and A35.
- Bournemouth, Poole and Swanage all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area.

Premises details:

Ground Floor
On the ground floor there is a Restaurant/Tea Rooms with 40 covers, furnished in a traditional style with dark wood chairs and tables and includes Lawrence of Arabia’s favourite table. There is also Bar Lounge with bow window and inglenook fireplace with beamed ceiling, tables, chairs and sofas for up to 20 persons, beer store and fully fitted professional kitchen and customer toilets. The ground floor also has a function room suitable for up to 26 covers and one large double bedroom room (currently in private use).
First Floor
On the first floor there are eight guest rooms comprising of a mixture of family, double and twin rooms seven with en-suite bathrooms/shower rooms and an office. One room is a single with a private bathroom across the hallway.
Second Floor
On the second floor there is private/owners accommodation comprising of two small double bedrooms, fully fitted kitchen, lounge/dining room and bathroom.
External
To the rear there is a small enclosed garden suitable for serving teas in the summer. There is also rear access to a parking area and car port for 4 to 5 vehicles. There is also a 24 Seated Courtyard full of flowers fully enclosed which is used as a smoking area all year and also for dinning in the summer months very popular.

Other information

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.
• The 9th bedroom on the ground floor currently in private use can be used as an additional guest room.
• There is space at the rear of the property that, with the necessary planning permission, an additional two guest rooms or separate private accommodation can be built; freeing up space for additional guest rooms within the main building.
• Promote and develop the use of the function room for private and business events.
• Increase the open hours.
• Becoming more efficient with staffing levels.
• With an enhanced website.

Competition / Market:

As far as competition is concerned there are four other similar businesses within Wareham’s town centre.

Support & training:

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.

Trading hours:

Monday to Sunday: 9am - 5pm.
Food: Tuesday to Saturday; 9am – 4.30pm then 7pm-10pm.
Bar: Tuesday to Saturday; 9am – 11pm.

Furniture / Fixtures value:

£52,500 (included in the asking price)