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Well Established Hotel for sale in BUCKINGHAMSHIRE
21 Bedrooms 13 of which En Suite
Annual Fee Income Approximately £140,000
Huge Potential to Increase Revenue
Lapsed Planning for 8 Additional Bedrooms
The business is located on London Road which is the Main A Road (A40) that runs directly through High Wycombe from Milton Common and Stokenchurch and connects towns Gerrards Cross, Uxbridge and goes directly into Central London Edgware and Padington. High Wycombe comprises of a number of suburbs including Booker, Bowerdean, Castlefield, Cresses, Daws Hill, Green Street, Holmers Farm, Micklefield, Sands, Terriers Totteridge and Wycombe Marsh with some nearby Villages Downley, Hazlemere and Tylers Green. High Wycombe is situated in the county of Buckinghamshire which is regarded as one of the most affluent parts of the Country and has the new Eden Shopping Centre and redeveloped Buckinghamshire New University.
The business has history as a hotel dating back to the 1960’s and has had only a handful of owners since its existence. The current Vendors purchased the property in 2000 and have reluctantly decided to sell to concentrate on their other Hotel business.
The hotel currently boasts approximately 80% occupancy levels through repeat business. New business is generated from word of mouth only as no advertising is carried out and no links with web advertisers for room bookings.
Current accounts cans be inspected on viewings with the turnover and profits similar of that of 2009. The annual fee income on accounts available ending April 2009 shows £141,627 with Gross Profits of approximately 92% and adjusted Profits in excess of £87,000.
The Hotel has a huge amount of potential to increase revenue through several arms of the business. Breakfast is not openly offered but will be catered for at an extra £5 per person. The Kitchen and Bar are not currently open and sales here would significantly increase the business turnover. The Hotel also has lapsed planning permission for an additional 8 bedrooms.
The 21 Bedrooms is made up of 4 family rooms all en suite, 4 twin rooms 2 of which are en suite, 4 double bedroom of which 3 are en suite and 8 single rooms 4 of which are en suite.
Although there is no residential accommodation available for the manager, the full time caretaker does occupy a large double room which can be available to the owner should they wish to stay on site.
Family £75, Twin/Doubles £55, Singles £40
Current records and accounts can be inspected when viewing.
Available accounts are to year end April 2009 and are summarised below:
2009 - Fees £141,627 Gross Profit 92%
2008 - Fees £156,518 Gross Profit 89%
Managed by the owners and 1 full time staff member.
TENURE & PROPERTY
We are advised that the property is freehold.
Leasehold option available. The vendors would be willing to grant a favourable lease for £150k premium., with a rent of £52k pa. Term to be discussed.
Entrance Lobby, Owners/Managers Office, Kitchen, Dining Room/Bar, Wash Room, Family Bathroom with Toilet, Toilet, 3 x Family Bedrooms with En Suite, 2 x Single Bedrooms with En Suite, Double Bedroom En Suite, Twin En Suite and 2 x Single Bedrooms.
2 x Bathrooms with Toilets, Toilet, 2 x Single Bedrooms with En Suite, Double with En Suite, Family Bedroom with En Suite, Twin Bedroom with En Suite, Double Bedroom, 2 x Single Bedrooms, Twin Bedroom
Family Bedroom with En Suite and a Twin Bedroom
There is no residential accommodation for owners/management available.