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Brilliant Hotel For Sale In Newcastle Upon Tyne

Newcastle upon Tyne, Tyne and Wear

Asking Price £210,000
Turnover £250,000

Business overview

HOSTEL HOTEL OPPORTUNITY IN NEWCASTLE
A Low maintenance ‘ CITY CENTRE ‘ Stag Do Hostel – Hotel ‘
An ideal family business only open weekends
Excellent Takings, low overheads long leas

Business details

  • Property type
  • Net profit
  • Accommodation
  • Staff
  • Rent per annum

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Business description

An ideal family business is to sell this city centre hostel/bunkhouse style business, located within a building that is lease from a third party.

Heroes is a Hostel-Hotel within the walls of the city of Newcastle upon Tyne. It is 10m from the famous Bigg Market within walking distance of the Theatre Royal, the Cathedrals, the Metro Radio Arena, Newcastle United Football Ground, the Newcastle Quayside, Bridges, The Gate entertainment complex, bars and Aspers Casino. Eldon Square Shopping Centre is only 100m from Heroes Hostel-Hotel.

The Metro Centre is a 15 min bus or train ride away. The whole of the North East history is within its reach, including the world famous Hadrians Wall and Vindolanda Roman Camp which is an acclaimed World Heritage site. Also fun activity days can be arranged, such as paintballing, go-karting, clay pigeon shooting and more.

LOCATION
The business is situated within Grainger Street, Newcastle Upon Tyne, located within the main leisure district of the city centre.

Grainger Street is an established retail street stretching from Grey's Monument, south to Westgate Road. Grainger Street is an established shopping location within the city centre, with a number of household retailers encouraging high levels of footfall and passing trade.

ACCOMMODATION
Heroes Hostel-Hotel is in the city centre and is in a redeveloped Victorian building. It has 14 bedrooms over 3 floors, comprising twin and triple bunk beds in 14 rooms for 1, 2, 3, 4, 5, 6, 8 and 9 persons. All of the 14 rooms are en-suite with shower, toilet and washbasin.

BUSINESS DETAILS
The business operates on a bed by bed charge with online booking facility.

It is currently operated by family members, to be sold free of tie of staff. This family business operates to its capacity on the Friday and Saturday night only 52 weekends with earnings of £237,120 that is based on £30 a bed on Friday and Saturday only not including the potential turnover of Sunday through to Thursday.
We are happy to discuss turnover with interested parties on viewing.
The celled could be used as a SPA with Jacuzzi, Sauna, Infra Red Treatment, Hair-dressing, Massage Treatment, Nail and Hair Removal etc.

LEASE TERMS
The premises are offered by way of new 25 year sublease with the options of extending as a passing rental of £519 per week (£26,988 per annum).

EPC
Available upon request.

VAT
Please advised that VAT is not payable on this transaction.

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