Well Presented Seafront Hotel 4 Star Guest Accommodation For Sale

Business description

THE HAMILTON
GREAT YARMOUTH, NORFOLK

Very well presented seafront hotel – 4 star guest accommodation
22 en suite bedrooms, lounge bar, function room, breakfast room
Year-round trade being a mixture of leisure & commercial guests
Uncomplicated business with growing T/O, £168,182 net of VAT to 30/04/08
£450,000 – Freehold

Occupying an excellent and prominent trading position on Great Yarmouth’s genteel North Drive, The Hamilton enjoys views over the town’s Venetian Waterways and out to sea, whilst being within easy walking distance of the many attractions within Great Yarmouth centre. The hotel has been the subject of significant
investment by the current owners who have also redefined and developed the trade from a former coach destination to the sound business model we see today. The trade is now a good mix of independent leisure and commercial guests attracted by the vastly improved facilities and comfortable surroundings. This is amply demonstrated by the many complimentary comments in the visitors’ book. Sound business foundations have been laid and it is not
surprising that trade is continuing to grow.

Great Yarmouth, one of the country’s most popular tourist destinations, has much to offer the visitor: be it the bright lights and sounds of the town itself, with its numerous piers and Pleasure Beach, or its miles of sandy beaches. It also makes an ideal base from which to explore Norfolk’s rich and varied countryside and attractions, including the renowned Norfolk Broads and the cathedral city of Norwich with its historic castle; all of which are readily accessible. The area is also a major commercial centre, having a thriving port facility, with plans well advanced for a ferry link to Holland, as well as being at the forefront of the emerging wind power industry. The Hamilton is well placed to benefit from these major commercial enterprises.

Following their purchase in spring 2003, the owners immediately set about extensively improving the hotel, including substantially overhauling the electrical system, completely refurbishing and extending the lounge bar, creating a function room and separate breakfast/dining room. Additionally, the majority of the kitchen equipment has been replaced along with extensive redecoration, replacing windows, re-carpeting and replacing much of the trade inventory and installing new central heating boilers. The business is run by the current owners, the wife undertaking a day-today role accompanied by a full complement of staff. However, notwithstanding the time, money and hard work they have invested in the property, with a young family, they have now made the decision to sell The Hamilton and relocate closer to their roots. This therefore presents purchasers with an excellent opportunity to capitalise on their investment and develop the business further.

THE PROPERTY
Built around the turn of the 19th century, The Hamilton is a substantial detached property, being brick built under a predominantly pitched tiled roof. More latterly it has been substantially extended to the rear. The hotel has accommodation on ground, first and second floors, plus a basement cellar storage area.

PUBLIC AREAS
The main entrance, accessed from the car park, leads through into the Entrance Hall with Reception desk and office to the rear. To the right is the contemporary style Lounge Bar with high ceiling, large bay window letting in lots of natural light and providing sea views, together with the bar servery. To the far end of the
reception hall, access is gained to the refurbished Function Room, now fitted out with quality furnishings. This good size room with a number of different seating arrangements has a strip wood dance floor. There is a further Breakfast Room with high ceiling, ornate fireplace and sea views from a deep bay window.

LETTING BEDROOMS
22 letting bedrooms to sleep 35 (12 doubles, 1 twin, 9 singles). All bedrooms have en suite shower room/wc and benefit from central heating, hairdryer, alarm and tea & coffee making facilities.

OWNERS' ACCOMMODATION
There is a ground floor annexe with an independent access providing a double bedroom with en-suite bathroom/wc.

SERVICE AREAS
Good size kitchen with food preparation, cooking and wash-up areas and a range of commercial equipment. Laundry area, together with ancillary storage accommodation. Ground floor beer cellar.

OUTSIDE
Ample car parking is provided, mainly in a secure car park to the rear of the hotel, together with spaces to the front.

SERVICES
Gt Yarmouth Borough Council.
Mains electricity, water, gas and drainage. Gas fired central heating system.

LICENCE
Premises Licence

2009 LISTINGS
VisitBritain 4 star Guest Accommodation

TRADE
A trading profit & loss account provided by our clients’ accountant shows turnover for the year ended 30 April 2008 of £168,182 net of VAT.

PRICE
£450,000 is being sought for the freehold property, complete with goodwill and trade contents (according to inventory), excluding personal items. Stock at valuation.

DIRECTIONS
From the A47 entering Great Yarmouth, go straight across the two roundabouts, following signs for the seafront. Turn left onto North Drive and after approximately 750 metres the hotel will be to your left. Lowestoft 11 miles, Norwich 21, Cromer 32, Diss 37, Ipswich 59.

FINANCE
Colliers Robert Barry is able to assist prospective purchasers by introducing sources of finance if required. Whilst we do not charge the buyer for this service, we may receive an introductory commission from the lender or broker involved.

TO VIEW
All appointments to view MUST be made through the vendors' agents who are acting with sole selling rights.

Property information

Property:

Freehold