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Superb Hotel for sale in Scunthorpe, Grimsby & Surrounding

Scunthorpe, Grimsby & Surrounding, Lincolnshire

Asking Price £70,000
Turnover £225,000

Business overview

Established 13 bedroom hotel which is owner operated. Huge potential for the right new owners and a great lifestyle business.
No immediate mortgage required.
Read on for further details.

Business details

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

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Business description

We are selling our award winning established 13 bedroom Hotel (all with en-suite facilities) which is in a prime location located just 20 metres off the central promenade and two minutes from the award winning beach in the soon to be regenerated resort of Cleethorpes, which has many excellent local restaurants, bars and attractions just a short stroll away including the biggest Fish and Chip Shop in the world !

The sea front and surrounding area is having a £7.2 million pound 'makeover' starting in October 2018 which is an exciting proposition for future buyers.

Cleethorpes Train Station is only a 5 to 10 minute walk.

We are reluctantly offering it for sale as we are retiring and moving abroad in October 2018.

If it does not sell by then it will be handed down to our family, this is a chance for someone to take the opportunity to purchase a fantastic business in a prime location.

The hotel has been trading since July 2013 and we are the second owners.

The hotel is currently number one on Trip Advisor and we continue to receive fantastic five star reviews.

We are pleased to say that we have just won the award for The Very Best of Hotels from Travellers Choice on Trip Advisor.

The hotel is fully systemised and is simple to run, we have an operations manual to help any future owners in the running of the business, although training will also be given if needed prior to the handover.

The hotel is extremely well presented and has been described by many guests as immaculate.

There is also a kitchen, breakfast room and reception.

The latest yearly turnover figure was £225,000.

The room rates vary from £60 per night to £125 per night depending on the season and type of room.

A high percentage of guests who stay are repeat bookings.

The hotel currently employs six staff.

One Duty Manager / Receptionist
Two receptionists , two housekeepers and a breakfast cook / waitress.

The Burlington Hotel represents an excellent opportunity to purchase a thriving privately run hotel and to enjoy a fantastic lifestyle.

We receive a lot of business from repeat guests as we keep in touch with them via email and texts and this is proving to be very successful.

We also have several business people who stay with us from the renewables industry and other trades.

The business has built up an excellent reputation and enjoys a high level of repeat bookings due to its central location and friendly welcoming atmosphere.

The details :

The Hotel is held under a Lease Option Agreement with ourselves and the owner drawn up by local solicitors Wilkin & Chapman.

The Lease Option can be assigned by us to a new buyer for £70,000.

Or you can buy the shares in our company for £70,000.

The lease buyer will inherit the benefits of the purchase option with the owner.

This figure is not negotiable.

The freehold can be purchased from the owner by 01/09/2019 for £425,000.

This figure is not negotiable.

The lease can be extended until 01/09/2022 however it may be possible to agree a new purchase price with the owner before the end date of 01/09/2022.

The hotel can be purchased now for £495,000 payable in two parts.

£70,000 to us for the lease and £425,000 to purchase from the owner.

The lease fee to the owner is £2000 per month.

The good news:

There is a significant tax advantage to the buyer in purchasing the hotel and this can only be discussed in a face to face meeting with the seller.

Please message Andrew for more details through this site.

Please do not call the hotel.

Please see our website for any more information.

www.theburlingtonhotel.co.uk

Business location

A well maintained premises, occupying a prominent highly visible position. The Burlington Hotel offers 13 individually designed and furnished bedrooms that includes 4 executive, 3 superior doubles, 4 standard doubles and 2 singles. All rooms have modern facilities and there are spacious public areas. The premises have been sympathetically converted, modernised and extended over the years and benefit from an all electric heating system as well as double glazing. The building provides an exceptional standard of business accommodation.

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