Substantial Property Admirals House For Sale

Business description

Offers Over: £445,000 Freehold

Substantial property set in a delightful location close to Alton Towers. Bar, Restaurant and 6 en suite letting bedrooms. Impressively spacious 3 bedroom Owners' accommodation. A superb lifestyle business with tremendous untapped potential. Originally built as three adjoining cottages in the mid 19th century, Admirals House is now a substantial detached property and delightful lifestyle business. Currently operating as a seasonal Restaurant with 6 en suite letting bedrooms, the business could just as easily run as a traditional pub. With its characterful open plan trading areas, car parking and unusually spacious Owner's accommodation, Admirals House offers tremendous scope and flexibility. Admirals House occupies a prominent position on the edge of the pretty village of Oakamoor in north Staffordshire. The village lies in the picturesque valley of the River Chunet, an area of outstanding natural beauty, and just a mile and half from one of the UK's biggest tourist attractions - Alton Towers. As a result, from March through to October the rooms are constantly in demand. The current Owner has owned and operated the business since July 2004. Unfortunately a dramatic change in personal circumstances has meant that the business is now being sold. Given both the physical attributes of the building and its stunning location we are strongly of the belief that under the guidance of new enthusiastic 'hands on' operators Admirals House could make a fabulous destination business.

THE PROPERTY
A substantial period detached property with accommodation over ground and two upper floors.

PUBLIC AREAS
An entrance door to the front elevation leads through to a lobby and public areas beyond. The open plan trading area is split into several distinct areas. The public bar has seating for around 10, exposed beams and an attractive bar servery. The main Restaurant area has freestanding seating for around 18, a fireplace and leads through to the Breakfast Room with seating for a further 14, exposed beams and an attractive stone fireplace. Behind is an inner area with seating for a further 10 and a brick fireplace. To the front of the building is a Conservatory with seating for around 8.

LETTING BEDROOMS
Six letting bedrooms to sleep 18 (2 quads, 2 triples and 2 doubles). All the rooms have en suite facilities, TV and tea/coffee facilities. Please note that there is a further room on the second floor which, subject to planning, building and fire regulations, could possibly be converted to a 7th room.

ANCILLARY AREAS
Ground floor trade kitchen with a good range of stainless steel professional equipment, surfaces and storage. Separate washing up room, freezer room, laundry room and several outside stores.

OWNER'S ACCOMMODATION
The Owner's accommodation comprises lounge, kitchen/diner, upstairs conservatory and three spacious bedrooms with en suite facilities. Please note the bedrooms are exceptionally large and one previously used as a self contained flat in its own right.

OUTSIDE
The property has gravel car parks to both sides. To the rear is a spacious terraced 'hidden garden'. Please note that a substantial proportion of the garden to the rear is held on a 'tenancy at will' from the local authority.

SERVICES
Staffordshire Moorlands District Council. Mains water, drainage, electricity and gas.

TRADE
Trading accounts for the year ending March 2007 show an operating profit (before finance and depreciation) of £17,310 from a turnover (net of VAT) £87,506. With one month of the current financial year remaining, the turnover is expected to fall by circa 25%. This is due to exceptional and unforeseen personal circumstances. Further information can be obtained from the agents following a formal viewing of the property.

PRICE
Offers over £495,000 - For the freehold property together with goodwill and trade fixtures and fittings (subject to inventory). Stock at valuation.

FINANCE
Colliers Robert Barry is in touch with different brokers and lenders specialising in all aspects of the hotel, hospitality and pub sector and will be 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