Freehold 30 Bedroom Hotel & Public House Located In Newquay. 28 Rooms En-suite. Possible Residential Development (Subject To Planning Permission)
Veritas Business Sales are delighted to offer for sale this popular 30-bedroom Hotel & Public House which is located in the Cornish seaside town of Newquay. There has been a hotel on this site for over 70 years and has been in the careful hands of the current owner for the past 41 years. Reluctantly the business is now being offered for sale so that they can enjoy a well-deserved retirement.
Since ownership they have refurbished, redecorated and continually invested in new equipment along with fixtures & fittings which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time.
The Godolphin Arms Hotel & Public House is owner operated with the help of 10 part time members of staff (depending on the time of year) and for year ending 31st August 2023 posted an annual turnover of £508,980 with a GP of £367,000 (72%).
Prices are per room per night basis and all but one of the rooms are en-suite and benefit from, colour TV’s, Wi-Fi and complimentary tea & coffee making facilities. The hotel has a public bar to the front of the building and a large bar/function room to the rear which includes an additional dining area and dance floor.
The business already enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade along with many visiting tourists.
This is a superb opportunity to purchase an established turnkey business or the property would lend itself to conversion or even redeveloped subject to obtaining planning consent. With this in mind early viewing is highly recommended.