Business for sale

Business description

Renowned high quality 17th century coaching inn hotel nestling within historic north yorkshire heritage coast “timeless living” seaside town amidst cobbled streets running down to quayside

A rare highly profitable business enjoying an inspiring position within an area of outstanding natural beauty offered at £1,500,000 freehold to include fixtures and fittings, goodwill plus s.a.v.

Sales of £880,000 inc vat and growing on a split of 55% Dry, 25% Wet to 20% Letting guest rooms – substantial disposable profits – full management team in place inc well known chef

*Reputed restaurant (30) of authentic reality with bar , relaxing feature bistro(20), private elegant dining/function room (22)

*Ten beautifully refurbished high quality luxury bedrooms en-suite

*Owners private period cottage within hotels cobbled yard inc on 3 floors ,lounge/kitchen/diner/double bedroom with Jacuzzi bathroom/ twin bedroom

*Former patrons of notary inc Charles Dickens, George Stephenson, William Scoresby and locale for BBC TV epic David Copperfield

*An ideal private purchase where quality of life style of paramount importance or stunning robust corporate purchase – first time offered since 1983

LOCATION (YO22 4BH)
The coaching inn hotel is situated in the heart of the beautiful heritage coast historic seaside town of whitby , within the north yorkshire moors. Though a destination holiday town the locale attracts visitors all year due to the nature of its special historic and natural attractions, also it is a thriving living fishing town famous for its beautiful fresh seafood and local ingredients.

Home to count dracula of st hildas abbey, captain cook and world famous explorer william scoresby, the town is within minutes of “heartbeat country” and several national heritage sites. If you haven’t walked the local beach and thrown a dog a stick, you have yet to live!!!

The property is to be found on the cobbled church street only a few 100 yards from the world famous abbey and its 199 steps amongst over hanging local retail shops offering local crafts and arts along with traditional local supplies. Whitby can only be described as “living history” and prepare to be “seduced” by its breathtaking medieval reality.

PROPERTY DESCRIPTION
The inn was the setting for the bbc tv production david copperfield, a more authentic location you could not find than a coaching inn where charles dickens once lodged!!!! Constructed of mixed york stone and local brick the property is over 320 years old and the first stage coach left whitby from the inns cobbled yard on its journey over moors and dales to the city of york. King charles 11 is on the thrown of england and st paul’s cathedral is under construction.

The restaurant is a masterpiece of original authentic features retained to create the ambiance of reality of a country of bygones, furniture is of period pieces and there is a bar area within the room. Bistro could be described as “chintzy” however it also retains a traditional “english tavern” appeal within it having direct access out onto church street providing the window of the inn to the outside world enticing customers over its threshold by reflecting grand life from another time.

Catering kitchen is fully equipped with commercial units to a high specification. Private dining room cum function room is to the 1st floor and is in keeping with the character and ambiance of the whole building. Wash room facilities are provided with access throughout.

LETTING GUEST BEDROOMS
The hotel offers high quality luxury accommodation within its 10 restored and period refurbished guest rooms, offering single, double, twin and family facilities within its main 320 year old building. All different and all inspiring.

OWNERS ACCOMMODATION
This comprises of an attached cottage over 3 floors including to the ground floor lounge, kitchen and diner, on the 1st floor a most special double bedroom with Jacuzzi bathroom, then on the 2nd floor a smashing twin bedroom with exposed stone walls.

EXTERNALS
This “honey pot” property sits within an outstanding medieval town centre position and has a cobbled yard to its centre. Due to its historic nature and locale parking is only available on the towns public car parks of which there is an abundance.

PREMISES LICENSES
The business trades on traditional hours which gives a new owner an opportunity to further grow sales and take the window of opportunity not at present realised or taken.

TENURE
We are instructed to offer the property and business for sale as COMPLETELY FREEHOLD.

SERVICES
We are advised that the business has all services connected with heating by gas.

THE BUSINESS
We have accounts which will show sales to April 2007 of £880,000 inc vat on a sales split of 55% Dry, 25% Wet and 20% Guest lettings with a GP around 70%. It would be reasonable for a business of this type and sales mix to achieve a high gross profit cascading to a disposable net profit of circa 35% of net sales depending upon personal expenses and the manner in which the business is operated.

Gross Sales to April 2006 show £820,000 with 2005 £780,200; then 2004 £724,803 and 2003 £624,652 demonstrating a robust history of ongoing sales growth. The business has been owned by our clients for over 25 years who now wish to refocus there efforts into a foreign venture.

Our clients have a full operational team including manager and a well known chef who they leave in charge of the business when they take regular breaks at least every 6 weeks for a week or two at a time. It would be easy to imagine that sales will soon pass over the £1,000,000 mark with further focus on the opportunity.

There is a possibility for further revenue to be derived from an arrangement with our clients to “let out” a group of high quality cottages etc they have within the locale on some form of joint beneficial arrangement (these lettings are not currently part of the business being offered) but the sale is not reliant upon this.

This is truly a unique business opportunity waiting a new dedicated owner be it a private individual or corporate buyer to fully capitalise on its true potential

Accounts information will be made available to interested parties after viewing.

Ref: G4288F