Hotel / Motel for sale in Salcombe

Salcombe, Devon


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This business is marketed by

Nationwide Businesses Ltd View more business for sale by this agent

Outstanding position overlooking the bay, SOUTH DEVON

The vendor acquired the site approximatey 6 years ago and intended to demolish the building and erect a new build, combined apartment and hotel scheme. Having obtained the planning permission the scheme was aborted due to the recession and in the autumn of 2009 the vendor decided to refurbish the building which had been empty since he acquired it. Having completed the refurbishment 'The Hope Cove' opened as an exclusive use Party Venue in September, 2010. Bookings for the venue are generated through the vendors business www.classiccountryhouses.com and a commission arrangement is in place. The vendor is happy to continue marketing 'The Hope Cove' under a commission arrangement, should the purchaser be interested in continuing this relationship.

The vendor owns the freehold and subject to satisfactory references is prepared to grant a new 24 years full repairing and insuring lease at a rental of £52,000 p.a. exclusive of rates for the first 4 years, with rent review at that time and thereafter every 4 years. (It should be noted the vendor is also prepared to grant a shorter lease with a minimum period of 12 years).

Uniform Business Rates: £4,800 p.a. approx.

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

PREMIUM REQUIRED FOR THE NEW LEASE, FIXTURES, FITTINGS & FURNISHINGS £50,000 subject to contract
Loan possible to an approved applicant
Viewing Strictly by appointment.

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business information

Sale price: £50,000
Tenure : Leasehold
Status: Available
Sectors:
Bed & Breakfasts
Guest Houses
Hotels and Motels
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