For sale The Belgrave Hotel 61 City Road Chester CH1 3AE May 2017 GVA 08449 02 03 04 gva.co.uk
The Belgrave Hotel Address The Belgrave Hotel 61 City Road Chester CH1 3AE
Overview The Belgrave Hotel is a well located three storey end of terrace property with brick elevations beneath various pitched slate tiled roofs, situated on the City Road just 500 ft (150 mtrs) from Chester Railway Station and less than one mile away from the City Centre. The building offers an outstanding opportunity for an incoming purchaser to refurbish and develop the existing building for continued use or perhaps for an alternative use such as serviced apartments, student accommodation or as a coaching inn style bar / pub with rooms. It is also conceivable, that the building could potentially be bought for residential use subject to obtaining any necessary planning permissions or consents. Location The property is situated in an outstanding location within the heart of the historic city of Chester, less than 500 ft (150 mtrs) from Chester Railway Station which has services to Manchester, Liverpool, Crew, North Wales and London Euston. Furthermore, Chester City Centre and Chester Racecourse are less than a mile away, whilst Liverpool s John Lennon Airport is less than 10 miles away and Manchester Airport less than 28 miles distant. The hotel is ideally located for both mid-week corporate business and the year round leisure trade given its close proximity to many businesses and industry as well as the many tourist attractions that Chester has to offer such as Chester Cathedral, the Roman walls, ruins and amphitheatre as well as the well-known traditional black and white timbered buildings which were built in the 16 Century and now accommodate a wide range of shops, bars and restaurants. Public Areas Reception Lobby Administration office Residents lounge Public bar 30 with central bar servery (currently unused) Residents bar 20 with bar servery (currently unused) Dining room / restaurant 50 (currently only used for breakfast) Ancilllary Areas Commercial catering kitchen with preparation area and wash-up area Letting Accommodation The hotel currently provides a total of 34 en suite letting bedrooms, all of which include a colour TV with Freeview channels, tea / coffee making facilities and free Wi-Fi. The hotel offers guests a choice of bedrooms with either a bath tub or shower facility. Room Configuration 7 - Double bedrooms 10 - Twin bedrooms 5 - Family rooms 12 - Single bedrooms Owner / Manager s Accommodation The property benefits from a selfcontained flat comprising: Sitting room Kitchen Bathroom Bedroom This area could potentially be utilised for additional letting bedroom space if required, subject to obtaining any necessary planning permissions or consents.
The Belgrave Hotel Exterior There is small yard to the rear of the hotel with access for deliveries and a brick built garage / outbuilding which is currently used for storage. Business / Opportunity The business is currently operated under management having previously been let to a tenant by way of a lease for a number of years. The hotel requires refurbishment and modernisation and is therefore currently underperforming. However, this presents an incoming purchaser with immense potential given the excellent location of the property. Alternatively, it is conceivable that given the excellent surrounding businesses including pubs, restaurants, hotels and serviced apartments, that an incoming purchaser may be interested in exploring the possibilities of alternative use to either serviced apartments or residential purposes subject to planning permission or any other necessary consents. Our clients have received initial advice from an independent planning consultant with a view to considering the possibility of demolishing the existing building and replacing it with a purpose built, 6 storey hotel or apart-hotel building with a ground floor food and beverage area. We understand that our clients held an initial pre application meeting with Cheshire West and Chester council to discuss this draft proposal. Whilst neither of these schemes currently have planning permission or any other necessary consents, our client s plans and the minutes from the meeting with the council are available for inspection by seriously interested parties. We would point out that any interested parties will need to obtain their own independent advice in this regard and should satisfy themselves that they are happy with the planning consent that is in place for the building at the time of purchase. Trading Information We are advised that the net turnover for the business for the year ending 31 August 2016 was 287,450 and the business showed a gross profit of 242,251 (84%). Further detailed trading information will be made available to seriously interested parties. Fixtures and Fittings We are advised that all fixtures and fittings and other items associated with the running of the business are owned outright and shall be included in the sale. All appliances are untested and a purchaser should satisfy themselves that all equipment is in full working order. Fire Risk Assessment We have assumed that a suitable and sufficient fire risk assessment has been carried out under the Regulatory Reform (Fire Safety Order 2005). This assessment needs to be recorded in writing where there are five or more employees. Business Rates The business rates are payable to Cheshire West and Chester council. We understand that the rateable value for the year commencing 1 April 2017 is 21,750. Services We understand that all mains services are connected (untested). Energy Performance Certificate (EPC) An Energy Performance Certificate is available upon request. Stock in Trade Stock in trade is to be purchased at cost and in addition to the asking price on the day of completion. Tenure Details We understand that the property is held on a freehold title. Asking Price We are inviting offers in the region of 1.5 million for the freehold interest in the property which is to be sold as a going concern asset and business sale. VAT If applicable VAT will be charged in addition to the selling price. Viewing Arrangements Viewing arrangements are strictly by appointment only through the Vendor s sole agent GVA. Under no circumstances should any party make any indirect approach to the business or the staff at the hotel.
For further information Martin Davis, Director 0161 956 4034 martin.davis@gva.co.uk Property ref gva.co.uk/02b712882 Our offices: Birmingham Bristol Cardiff Dublin Edinburgh Glasgow Leeds Liverpool London Manchester Newcastle GVA 65 Gresham Street, London EC2V 7NQ GVA is the trading name of GVA Grimley Limited an Apleona company. 2017 GVA GVA hereby give notice that the information provided (either for itself or for the vendors / lessors of this property whose agent GVA is in this brochure) is provided on the following conditions: (1) The particulars are set out as a general outline only, for the guidance of intending purchasers and/or lessees and do not constitute an offer or contract, or part of an offer or contract. (2) All descriptions, dimensions and references to this property s condition and any necessary permission for use and occupation, and any other relevant details, are given in good faith and are believed to be correct. However, any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves of their correctness by inspection or otherwise. May 2017 02B712882 (3) No person in the employment of GVA, or any joint agents, has any authority to make or give any representation or warranty whatsoever in relation to the property or properties in this brochure. (4) All prices quoted are exclusive of VAT. (5) GVA shall have no liability whatsoever in relation to any documents contained within the brochure or any elements of the brochure which were prepared solely by third parties, and not by GVA.