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

Property Details: • Type: Ask agent • Tenure: N/A • Floor Area: N/A

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

Location: • Nearest Station: Colchester Town Station • Distance to Station: 0.5 miles

Agent Information: • Address: Whitefriars House, 6 Carmelite Street, London, EC4Y 0BS

Full Description: DescriptionA 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.LocationCentrally 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 & FittingsVery well and comfortably fitted out throughout.Letting AccommodationSeventeen en suite 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 DetailsExternal public seating to the rear and storage areas.The OpportunityAn 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.StaffA 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 InformationAnnual 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.TenureFreehold.RegulatoryPremises Licence. Energy Rating C.Energy Performance CertificatesEPC 1