Hotel/guest house for sale in Hornby Road, Blackpool, Lancashire FY1

Description

The subject property comprises a terrace of Victorian properties which have been converted to form a 55 bed hotel with reception, restaurant and bar area to the ground floor. We understand the property was refurbished in 2017 but recently ceased operating as a hotel.

The property is located in an excellent position in Central Blackpool and has the benefit of 10 parking spaces to the front of the building and service yard to the rear. On the Ground floor is the main reception, Restaurant and Bar area which at the time of publication were non operational. The hotel rooms are on the upper floors.

The property is held over three Freehold Titles: LA441609, LA439006 and LA860276.

The freehold is subject to 55 Long Leasehold interests on the individual rooms. We understand the leases are held for 999 years commencing from 1 January 2018 to 31 December 3017.

The leases were subject to a rent review on 1 January 2022 (and every 15 years thereafter) to rpi which has subsequently increased the ground rent from £600 per room per annum to £683.26 per room per annum, providing an annual ground rent of £37,579.30 per annum.