High Street Retail Property for sale

SW1V 1RP


£6,250,000
S.O.A.

Description

LOCATION:The two hotels are situated along Hugh Street in central Victoria, within the exclusive City of Westminster London borough. Victoria is one of London’s best-connected locations, possessing rail and road connections that are second to none. Another key appeal of this location is its accessibility to Gatwick Airport, which can be reached in under half an hour via the Gatwick Express service. Victoria Coach Station is also situated a short walk away from the hotel. Areas of high visitation such as; Sloane Square, Westminster and Mayfair can all be reached via the underground network in under five minutes from Victoria’s underground station, which services the Circle, District and Victoria line.

DESCRIPTION:The two buildings are of traditional Victorian construction, set across basement, ground and three upper floors. The buildings only interconnect in the basement and on ground floor and not on the upper floors. There are a total of 26 rooms and an additional staff room, with 13 letting bedrooms in each building. The two hotels have their own west-facing rear courtyard. In Holly House there are three communal toilets and two separate showers that are used to service the basic rooms in the building. There are also two separate showers and two separate toilets in the Ivy servicing the basic rooms. There is a breakfast room in the Holly with circa 24 covers., The laundry and boiler rooms are in the hotel’s basement.

USES:C1 Hotels

TENURE:Freehold £6,250,000

BUSINESS RATES:All interested parties are encouraged to make their own enquiries with local authority

SIZE:First Guest House Approximately 2217 sq ft & Second Guest House Approximately 2066

ROOMS:First Guest House: 4 single basic, 1 single en suite., 4 double en suite, 3 twin en suite, 1 triple en suite


Second Guest House: 3 single basic, 1 single en suite, 4 double en suite, 1 twin basic, 2 triple en suite, 2 family en suite


There is also an additional single basic room in the basement that is currently used as staff accommodation

THE OPPORTUNITY:The properties will benefit from an ever-growing number of visiting tourists demanding an accessible city center location for their stay in London. The excellent location provides well kept, comfortable rooms just a short walk from many of London’s most popular tourist attractions.

TURNOVER:Forecasted Revenue Forecast Occupancy: 90%adr: £85 Rev Par: £76.5 Revenue: £725,000 Opportunity With small improvement to the rooms the hotel can achieve Average room rate of £100.00 and Room Revenue £755,500 per year

ENERGY PERFORMANCE CERTIFICATE:Energy Performance Asset Rating is 62- C Rating. C copy of this property’s energy performance certificate is available on request.


Energy Performance Asset Rating is 63- C Rating. C copy of this property’s energy performance certificate is available on request.

LEGAL COST:Each party to be responsible for their own legal costs

REFERENCE CHECKS:London Properties charges a fee of £200 plus VAT for taking up references for proposed tenants. This fee is non- refundable after the references have been taken up, whether they are accepted or not by the Landlord

FIXTURE & FITTINGS:Any fixtures, fittings, equipment, machinery and plants which are shown within the details have not been tested unless specifically said and prospective purchasers and/or tenants should satisfy themselves as to the condition

AGENT NOTE:London Properties for themselves for Lessors, Vendors and their agents, give notice that:-


1. These particulars provide a general outline only. It is advised that prospective purchasers or tenants make their own enquiries.


2. These details do not constitute any part of an offer or contract.


3. All statements or details contained within these particulars are without any responsibility on any part, to London Properties.


4. All rent prices, fees and charges are quoted exclusive of VAT

VIEWINGS:Internal viewings are highly recommended through London Properties by appointment only.




Features
  • Freehold
  • Commercial Class: C1 : Hotels and hostels

Categories

High Street Retail Property
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Property reference
Hugh_Street