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Freehold Option £999,999
Hilton Smythe welcomes to the market Montville Hotel.
There has been a hotel on this site for many years and the current owner has run it successfully and lucratively for the last 14 years. The business has been a real labour of love and it is with reluctance and a heavy heart that the business is now being sold so the owner can concentrate on other business interests. The current owner is proud of having taken a once unloved and poor business and turning it in to what it is today and he is keen to see it passed to an ambitious and entrepreneurial new owner who can take this great business to the next level. It really does offer a considerable opportunity to an experienced hotelier.
This opportunity includes a Hotel with 12 en-suite letting rooms and immediate rental income of approximately £60,000 per annum from the sub let businesses that are included in the premises and which comprise of a Bar, Restaurant and Barber business and also a 3 bed ground floor apartment.
The business has many regular customers who use the Hotel whenever they are in town and there are a number of larger corporate accounts from companies such as Tata who use the business for staff attending the office and longer-term stays. The business is especially popular with contractors who often stay for weeks at a time and also receives clients from the DSS,Social Services and local council who pay enhanced rates to place vulnerable or displaced clients in bed and breakfast accommodation.
The business is beautifully presented and maintained and has striking signage which is particularly impressive when it is lit up at night. There is a large car park to the rear of the premises and further parking along the side of the business.
Montville Hotel enjoys great visibility on the internet via sites such as www.lodging-world.com , ---.----.--.-- , ---.------.--.--- , ---.----.--- ---.--------------.--.-- and YouTube.
Scope to Improve;
Website to extol the services offered perhaps with an online gallery and booking facility
Advertising and marketing campaign
Maximise the use of social media particularly Facebook and Twitter
Upgrade the rooms and take the business upmarket, there is demand locally and the business has little competition.
Introduce breakfasts for the guests and even evening meals, whilst there is a communal kitchen and dining room the guests currently prepare their own meals
Explore on line booking offerings from the likes of late Room.com
Investigate online voucher discounters such as Groupon and Wowcher.
Hilton Smythe highly advise early viewing to avoid disappointment. This business is likely to attract considerable interest.
Montville Hotel is located in Redditch within Worcestershire.
Redditch is a town in North-East Worcestershire approximately 15 miles south of Birmingham. The district had a population of 84,300 in 2011. In the 1960’s it became a model for modern new town planning.
Following the redevelopment of the flagship Kingfisher Shopping Centre in 2002, Redditch is undergoing an economic and cultural renaissance. The town is home to several historic sites. The National Needle Museum and the ruins of Bordesley Abbey are located in the Abbey Ward district and the remains of a medieval moated settlement called Moons Moat are with the Churchill estate.
The M42 motorway is a short drive away and it is linked by dual carriageways and A class roads to surrounding towns such as Bromsgrove and Evesham. There are regular bus services to Studley, Bromsgrove, Catshill and Birmingham.
Montville Hotel is ideally located on one of the main arterial roads into Redditch Town Centre which is only a few minutes’ drive away and benefits from good footfall and great levels of passing trade.
The business premises are substantial and need to be viewed to appreciate both the size and the opportunity they present.
The premises briefly comprise;
With double doors to front, marble effect flooring, bespoke and upmarket looking counter, wall mounted water feature, led mood lighting,
12 en-suite Letting Rooms
All generously proportioned with an attached en-suite shower room
First floor kitchen and dining room
For use by the hotel guests on a self-service basis
There is a good-sized Managers apartment with two double bedrooms
Ground Floor Letting Apartment
There is a generously proportioned and nicely presented 3 Bedroom Letting flat which is currently achieving rental income of £11,440 per annum
There is a beautifully presented and maintained bar business which is sublet and achieves an annual rent of £12,000 per annum
Also included in the sale is a popular restaurant business which is fitted out fastidiously with a real high end feel and comprehensively equipped catering kitchen and achieves an annual rent of £23,400 per annum
Again, nicely presented and maintained and achieving an annual rent of £12,000
We are advised that Montville Hotel is being sold both as a freehold and as a leasehold business opportunity.
If the leasehold option is chosen, the vendor is happy to negotiate a mutually acceptable lease with a new owner. With a lease option of around 20 years. An annual rent of circa £58,840 is proposed.
At the time of instruction business rates of approximately £4000 per annum were payable.
The business is run 24/7, however the sublet businesses keep their own individual opening hours dependent on the type of business obviously.
The hotel side of the business is run and managed by our client with the help of one full time and one-part time member of staff.
Montville generates an advised rental income of circa £59,000. Additionally, the hotel side of the business generates an advised turnover of approximately £80,000 per annum although it needs to be stressed that this side of the business is currently being run at a pace to suit and turnover was previously in the region of £200,000 per annum.
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