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UNDER OFFER

The North Hill Hotel, 51 North Hill, Colchester, Essex, CO1 1PY

£1,195,000

Business rates & charges may apply

Christie & Co, Hotels
SIZE

Ask agent

SECTOR

Hotel for sale

Key features

  • Central City location
  • Fully refurbished period property
  • 17 excellent en suite bedrooms
  • Newly equipped Bar. Lounge/restaurant for 90
  • Retirement sale
  • Sales YE 31.03.2024 £577,648 ex VAT. Energy Rating C.
  • Christie & Co Ref: 1446694

Description

Description

A period property, Grade II listed, with ground floor public areas and letting rooms on the ground, first and second floors. The property has been in our clients' ownership since 2008 and has been refurbished throughout to an excellent standard, this upgrading programme includes a newly created lounge/hotel bar, which greatly improves the efficiency and layout of the ground floor areas.

Location

Centrally located in a substantial Essex city close to the high street, multiple retailers and extensive public parking.

Internal Details

* Entrance leading to reception/lounge area seating 16 * Restaurant/dining areas formed from several linked rooms for 40+ * Conservatory dining area * Newly equipped lounge bar with servery for 20 * Kitchen, service & storage accommodation * Customer WCs * Cellar storage area. Total seating capacity is around 90 covers at any one time across all of the public areas.

Fixtures & Fittings

Very well and comfortably fitted out throughout.

Letting Accommodation

Seventeen ensuite letting bedrooms, of varying sizes and styles and all very well equipped, on the two upper floors. The vendors operate 16 rooms of the total, the seventeenth room being used by housekeeping.

External Details

External public seating to the rear and storage areas.

The Opportunity

An excellently refurbished city centre property providing year round hotel accommodation and generating substantial food and beverage sales. The new and impressive lounge bar was created in 2022/23 from a former meeting room space adjacent to the conservatory, and its addition will undoubtedly rebalance the business and increase wet sales over time given, not only the standard of fit out, but by greatly improving customer flow through the public areas. We accordingly recommend an early viewing of the property.

Staff

A team of full and part time staff operate the business. The vendors have unrelated interests and are not full time operators of the hotel. The wage bill as a consequence can, without question, be reduced by new full time owners working in the business on a day to day basis.

Trading Information

Annual sales are projected to be in excess of £700,000 ex VAT. More detailed information is available to interested parties who have signed a Non Disclosure Agreement, available from Christie & Co.

Tenure

Freehold.

Regulatory

Premises Licence. Energy Rating C.

Energy Performance Certificates

EPC 1

Brochures

The North Hill Hotel, 51 North Hill, Colchester, Essex, CO1 1PY

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Colchester Town Station0.5 miles
  • Colchester Station0.7 miles
  • Hythe Station1.4 miles

About Christie & Co, Hotels

Whitefriars House, 6 Carmelite Street, London, EC4Y 0BS

We’re the leading specialist advisor for buying and selling businesses in our sectors - hotels, pubs, restaurants, childcare, healthcare, convenience retail, leisure and medical.

If you’re looking to buy or sell a business in our specialist sectors – from a pharmacy in Sussex to a hotel in Austria – our expert advice and collaborative support will help you achieve your goals. You may be an independent first-time buyer or a multinational adding to your portfolio; either way, you’ll discover that our personalised service is focused on helping you achieve your ambitions.

Clients have access to our carefully managed network of potential buyers. This unique database of contacts has been continually developed by our advanced IT capabilities and benefits from both our years of experience developing our network and our wide geographical coverage.

Where we work

We employ the largest team of sector specialists in the UK and the largest group of hotel specialists in Europe, providing professional brokerage and advisory services from offices in major cities across Britain and Europe. And because we’ve been doing this for over 80 years, we know our sectors and local markets inside out. We work closely with our clients to guide and conclude transactions of any size, covering hotels, restaurants and pubs, leisure, forecourts and convenience retail businesses, social care and elderly care, childcare & education facilities, dental practices and pharmacies.

Our professional services

We offer unrivalled insight, experience and expertise across your choice of services, including brokerage, consultancy, finance, development, investment, surveying, rent reviews, dispute resolution, corporate valuation, and turnaround & recovery. These services are all underpinned by our in-depth market intelligence and leading-edge technology. And we’re accredited by the Royal Institution of Chartered Surveyors (RICS), so you can trust in our professionalism.

What makes us tick

Businesses are about people, so relationships matter to us. We bring an integrity and transparency to business which can be all too rare – and that’s why people trust us. Our clients will attest to our genuine desire to help achieve their objectives, our attention to detail, and our tireless hard work on their behalf. We understand that buying a business can bring its own pressures and strains; needs can change, plans may need to be adjusted, and opportunities can come and go. But we’re always here, a constant, flexible and reliable force you can count on.

Our opening hours for all offices:

Mon – Fri, 9am – 5.30pm

Notes

These notes are private, only you can see them.

Disclaimer - Property reference 1446694-fh. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Christie & Co, Hotels. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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