Ref 6737 – Popular Hotel With Owner Accommodation - Llandudno
Blacks Brokers are pleased to bring to the market this substantial 11 bedroom hotel, which is close to the promenade and many tourist attractions in the busy tourist destination of Llandudno.
Our client has been in ownership of the hotel since 2006 and the business has traded steadily over that time. The business is traditionally an 11 bedroom hotel however our client recognised an area of growth and now offers the holiday as a holiday let as there are only a few properties in the area who can accommodate large groups. In 2018 bookings for hotel and holiday let were split evenly currently the demand for holiday let far outstrips that for the hotel business with substantial bookings into the future.
Llandudno is a seaside town in Conwy, North Wales and is the largest seaside resort in Wales. By car the A55 coastal expressway links seamlessly with the motorway network form the North West. From the Midlands and South of England use the M6, M5 and M1. By rail there is a direct service to Llandudno.
After owning the business since 2006 our client has decided to move out of the industry to explore other business interests.
The property is freehold.
The hotel is a family run operation.
Using the building as a holiday let could generate £900 per day if fully occupied.
The 36 cover fully licensed restaurant on the lower ground floor is currently tenanted. Our client receives an income of £16,250 per annum on a 15 year Fri lease that started in 2011. The lease has no break clause. Potential income from the hotel if all rooms were occupied could be as much as £500,000 per annum. Currently when the hotel is fully occupied . Current turnover as verified by the Year End Accounts March 2019, Annual Turnover £105,209 (Audited 31.03.2019) Gross Profit £76,198 (Audited 31.03.2019). Accounts are available to view.
The hotel is highly rated on hotel booking sites such as trip advisor and the feel overall is welcoming and traditional. The business would ideally suit a buyer who is looking to relocate to this part of the country and look pushing the business forward. Our client has carved a niche in the area with the holiday let business model and corporate clients have now shown interest for corporate training days and team building sessions, this is an area that or client sees good growth as an alternative to the traditional customer type. Business & Property: £575,000.
Please quote ref: 6737