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Hilton Smythe welcomes to the market The Swan Hotel. It is a very prominent and substantial Grade II listed brick built property under tiled roofs, parts of which date from the 16th century - reflected in the exposed timbers evident throughout the building. Letting accommodation occupies all three floors and there is a large single and two floor extension at the rear. Our client is now looking forward to retirement.
The Swan Hotel is a highly popular town centre hospitality business in an historic Grade II listed building, generating good and growing revenue streams from food, beverage and accommodation sales. The Swan is a fundamental part of the town's business and commercial life and is open all day throughout the year. Owned by our client since 2001, a high level of repeat business is a key feature of the operation, particularly for food, functions, meetings and wedding parties. The property's two bars and divisible function facility make The Swan a highly flexible venue which offers a wide range of seating capacity from 50 to over 100 people. The Piano Bar gives another 40 covers and is generally used as a private function area; however, this is an area that should be considered as a growth opportunity by making this a facility that is open throughout the week.
The Swan has reviews on Google 4.1/5, Booking.com 7.8/10 from 174 reviewers, Expedia 3.7/5 from 35 reviewers, TripAdvisor 3.5/5 from 95 reviewers and is being sold with the website ---.------------------.--.--
The Swan is a profitable business, however, there is scope for development by considering:
Utilisation of the space available throughout the week
The staffing in order to increase profitability
Promotion of the rooms to increase revenue
There are many reasons to buy The Swan including:
Many regular customers brining in approximately £6,000 per week in wet sales
Large centrally located premises
Hilton Smythe highly advise early viewing to avoid disappointment.
The Swan Hotel is located fronting The Thoroughfare in the heart of Harleston in Norfolk, a lively market town on the old coaching route from London to Great Yarmouth which is filled with other historic buildings of great character. The town is close to the A143 trunk road between Bury St Edmunds and Great Yarmouth and approximately 10 miles east of Diss, on the Norfolk/Suffolk border, and approximately 21 miles south of Norwich.
The hotel has a large car park to the rear giving parking for approximately 30 vehicles.
Main entrance reception leads to:
A guest lounge.
Meeting room for 10.
Main lounge bar, heavily timbered with a large inglenook fireplace seating around 30 and a raised seating area for another 10.
Refurbished Piano bar with bar servery used for booked functions, meetings and events.
Restaurant area for 25 covers, again with open fireplace.
WCs serving bar and restaurant.
Divisible function room, with bar servery for 100+, carvery unit and separate WC's. Disabled customer WC.
Extensive kitchen service & storage accommodation & lower ground floor cellar.
Letting Accommodation: 14 en suite letting bedrooms: 12 twin/doubles & two family/four poster rooms, all equipped with direct dial phone, colour TV and hospitality tray. Room rates range from £60 to £135, including VAT and breakfast, dependent on room type, occupancy and length of stay.
Outside there is a car park at the rear with parking for approximately 30 vehicles. Covered seating area, courtyard and archway leading to The Thoroughfare. Small garden.
The owner's/managers accommodation one double en suite room.
We are advised the business is being sold as a freehold business opportunity. Our client informs us they pay rates at approximately £15,000 per annum.
The business is open 7 days a week, throughout the year.
The business is run and managed by our client, with the help of 14 members of staff. It is our opinion that the staffing numbers could be looked at to consider profitability.
The Swan Hotel generated an advised turnover of circa £491,900 as of the 2018 accounts, with a gross profit of 32.3%, a net profit of 4.6% and an adjusted net profit of 9.9%
The 2017 accounts show a turnover of £501,906 with a gross profit of 31.4%, a net profit of 6.7% and an adjusted net profit of 12.2%
The average stock value is in the region of £10,000
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