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Stunning Hotel & Restaurant In Hampshire For Sale

Hampshire
Asking Price:
£299,950
Turnover:
£709,331
Net Profit:
Available on request

Business

Hilton Smythe are delighted to present to the market a Hotel and Restaurant, originally opened in 1988. Recently purchased by our clients, the exciting opportunity now offered for sale due to ill health which forcing an immediate sale. There a long lease in place with 16 years still remaining and over £200,000 valued assets included in the sale.

The specifically designed building sits in the heart of a marina, a multi functioning business operating as a restaurant, 10 bedroomed boutique hotel, daytime bistro/cafe, bar and events location. Our clients have embarked on transforming the traditional business model and in just the first year of managing the business have enjoyed a 15% increase in turnover.

We believe, the number of deployment options for the site could easily allow any new buyer to increase turnover within the short term to around £1M and with further investment in the building layout increase this to around £1.5M.

Currently the business turnover is split evenly between the bar, food and hotel attracting old and new customers in all areas. We are informed that 40% of customers are from the marina bass, 30% from visitors and 30% from locals.

The restaurant offers a fine range of British cuisine, using locally sourced ingredients where possible serving classic fish and chips to mouth-watering pork belly. The addition of weekly specials has increased footfall and mid-week sales levels.

The bar/ cafe offers an extensive list of Italian coffee, soft drinks and children’s drinks, cocktails and beers.

The hotel currently offers a wide choice of 10 individually designed rooms, all with a view of the channel and many with large open balconies. They have an excellent 9/10 score on booking.com, an 84% room occupancy level and increasing number of loyal corporate guests.

Our client’s improvement programme included new decor and facilities in the hotel bedrooms, new furniture and office equipment, kitchen equipment as well as an overall review of the business efficiencies and controls.
We believe the journey of transforming this slightly dated operation has now begun and that any new buyer will be able to capitalise on the many new developments within this area that will be dramatically increasing the new customer footfall.

Adopting any of the following improvements would help drive turnover to the £1-£1.5 M threshold:
Modifying the hotel room layout and increasing available rooms from 10 to 15
Increasing the hotel room pricing structure and offering higher end decorated rooms / suites with improved facilities
Adding an available apartment in the building as a luxury hotel apartment to let on short or long term arrangement
Developing an unused ground floor area into a corporate meeting room, would increase both hotel income, bar and restaurant
Develop a new relationship with tour operators and pre-arranged groups to the area for set lunches, afternoon teas and events
Promote the restaurant and terrace space for more private parties, weddings and family christenings
Further develop the website booking facility, social media platforms and local advertising.

This business is priced to sell quickly, and we strongly advise early viewing to avoid disappointment.

Location

The Hotel and Restaurant occupies a prominent position.
It is a unique development of 206 birth marina waterside homes, shops, restaurants, bars and hotel. There is also a storage ashore for over 120 boats and a slipway for trailer and car storage.

It is a popular destination Town with an attractive and quaint shopping area, a pier and regular ferry crossings.

Visitors to the marina can take a clear view of the English Channel. Southampton has become a successful port for shipping, a port for large cruise liners and the linked industries that line the shore.

The business benefits from ample free parking for both its hotel and restaurant guests.

Premises

Ground floor: CCTV throughout

40 cover cafe / bar area with choice of high seating, medium height chairs and tables and low level comfortable leather sofa seating

Bar server

Hotel reception desk

Including:
Glass washer
Ice Machine DC 300kg
Tall breakfast fridge
Haier fridge/freezer
Soft Drink dispenser
3 x Under counter Bottle Fridges
Sink
3 x Tills
2 x Cash Drawers
2 x T-bar beer tap
Real ale tap
Coffee Machine
Coffee Grinder
Coffee waste drawer
Stereo
iPod Touch Set up Spotify
3 x Bar printers
Kitchen printer
3 x Sofas
6 x Tub Chairs
3 x Low Tables (bar)
3 x Bar tables (high)
12 x Bar stools
6 x Space dividers
26 x Square tables
30 x Chairs - dining
41 x Chairs - bar
Reception lectern
3 x Large round wall mirrors
Wine Wall
2 x Standing lamps
7 x Hanging ceiling fight Fittings
Sideboard (waiters’ unit)
5 x Highchairs
2 x Sea Themed framed Prints (on walls)
Coat Rack
9 x Large round rattan tables (outside)
35 x Rattan chairs (outside)
7 x Small round rattan tables (outside)
22 x Rattan chairs (outside)
3 x Wooden tables
8 x Wooden chairs
Aluminium glass table
2 x Aluminium chairs
2 x Umbrella stands
4 x Sandbags for umbrellas
Washing Machine
Tumble Dryer
Iron
Iron Board
2 x Upright vacuum cleaners
Henry vacuum
Cellar accessories, beer lines etc.
Cellar fan Qalitair
2 x Cellar shelving
Boiler Viessmann
Steelflow Cylinder 500L
3 x Tower fans
2 x Step ladder
Quantity of various glasses

Kitchen, cellar area, storeroom, staff changing and toilets -
Hobart eco-max dishwasher & table
Zanussi kitchen sink double bowl
SS Crockery rack (washing up)
2 x Pedal bin
Single bowl sink
Single veg prep sink
Infrico 2 door freezer Ice cream freezer glass doors
SS bench drawer 6ft
Sharp microwave oven
Xtreme food blender
Genware electric scales
Buffalo food mixer, bowl & attachments
3 x Williams's upright fridges
2 door stainless plate cupboard
4 door counter fridge
2 x SS wall cupboards 1 x SS plate warmer
SS upright freezer
Blue Seal Chargrill (gas)
Blue Seal solid top (gas)
Blue Seal 4 burner stove (gas)
Blue Seal salamander (gas)
2 basket valentine fryer (electric)
Rational 6 tray self-cooking centre on stand
2 door Williams counter fridge {gantry)
2 door counter fridge
SS undercounter freezer 2 doors
SS tray rack & various gastronome trays
SS stand with shelves
6 x SS shelves
SS plate warmer
4 slot Dualit toaster
Berker slicer
Dry storage rack
Robot coupe wand blender
Robot coupe r401 Veg prep
Hand operated chipper
Hand towel dispenser
Vermatix fly killer
Buffalo Sealer
Buffalo Conveyer toaster
Double press toaster
4 x Cupboards
Electric Hotplate double
Grilling plates 600mm
Grilling plates 300mm
Extractor hood 4m
Pasta maker
2 x Heated lamp assembly
Vestfrost 374L freezer
Pergal - 3 gallon
Quantity SS saucepans & food prep boards
Various Kitchen utensils
Office
Customer toilets
Hallway - lift and stairs up to hotel rooms
Unused room - ideal for development to meeting room or rented retail space

First and Second floors
9 x bedrooms / suites all with en-suite facilities.

Equipment included:
Bed - double
7 x Bed - King
3 x Bed - Super King - zip & link
2 x Sofa bed
10 x Television
3 x Television tables
21 x Bedside tables (drawers)
20 x Bedside lights
9 x Chest of drawers
9 x Dressing table + stool
9 x Dressing table mirror
10 x Fridges
10 x Tables
10 x Telephones
11 x Wardrobes
10 x Kettle / tea stands
7 x Luggage stands
10 x Iron + boards
Standing lamp
Dining table
2 x Dining chairs
7 x Mirrors - wall
7 x Pictures - wall
9 x Tub chairs
2 x Sofas
7 x Coffee tables
2 x Balcony tables
4 x Balcony chairs
10 x Hair dryers
3 x Baths
10 x Showers
11 x Sinks
10 x Toilets
10 x Towel rails
10 x Bathroom mirrors
20 x Bins
10 x Toilet roll holders

External: 2 terraces arranged to front and side of the building. This additional space allows for a further 40 outside covers

Tenure
The business is being sold as a Leasehold with 16 years remaining on a 25 year lease paying £120,000 per year which includes the buildings service charge.

Hours
Always open

Staff

Run and managed by our clients on a part time basis. General Manager, Assistant Manager, Head Chef/ Kitchen Manager, Office Manager, 2 x Full Time Chefs and 14-15 Part Time Members of the team

Financial Profile

2018 annual turnover will be in the region of £710,000 with an adjusted net profit of nearly £90,000. New buyer must also pay the £25,000 rent deposit held with the landlord

Property information

Property:

Leasehold

Contact Information

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