Financial Details
Asking price: £499,950
Sales revenue: Undisclosed
Net profit: Undisclosed
Fixtures value: Undisclosed
Stock value: Undisclosed

  • Photograph of this business for sale

Business Description
Advent Business Sales are delighted to offer this substantial hotel for sale as a development opportunity.

The building has, until recently, been operating as a registered hotel, with 18 en-suite bedrooms, along with owners’ accommodation.

The hotel, which comprises 3 substantial 2 storey Victorian terrace houses, was converted into a hotel before the War.

Purchased by the vendor in 2006, alternative business priorities have impacted significantly on plans to redevelop the property. The building is, therefore, being offered for sale to either a company or individual seeking opportunities in Norfolk.
REF: 9498NR




DISCLAIMER: Viewing is essential to fully appreciate this business and strictly by appointment only through the agents. N/B: All Negotiations must be conducted through Advent Business Sales. These details do not constitute part of an offer or contract and properties are offered subject to being sold, let or withdrawn without notice at any time and without liability for any expenses incurred by applicants. All statements and descriptions are made without responsibility or warranty by us, vendors or lessors. Intending purchasers must check for themselves
General Information
Property:Freehold
Location:This exciting development opportunity is located in a desirable area of Great Yarmouth, a traditional resort in Norfolk. It is located in an area given over to a mix of hotels and private dwellings, with a delightful public park to the front, and a local college nearby. The promenade and town centre are just a few minutes’ walk away. There is parking for at least 6 vehicles to the front.

Great Yarmouth, a large coastal resort, is located on Norfolk’s east coast. The permanent population of the Borough, is some 92, 500, but this figure swells considerably during the summer months with the influx of tourists. The town and hinterland has seen considerable investment over the last two decades, with grants from the EU and EEDA. The largest industries within the town are tourism and those servicing the requirements of off shore oil and gas companies.

Great Yarmouth is close to the popular Norfolk Broads and has seen significant improvements in its communication infrastructure. The town lies just 20 miles from the county capital Norwich, which is accessed via the A47 trunk road or main line railway. The A12 trunk road gives access to the large conurbation of Lowestoft in Suffolk, a few miles to the south. There is a regional airport nearby, just to the north of Norwich
Premises Details:A substantial 18 bedroom Victorian hotel with staff accommodation, kitchen and parking comprising briefly:

Ground Floor
• Entrance lobby
• Bar
• Lounge
• Office
• Dining room with 45 covers
• Kitchen
• 6 en suite bedrooms
• Staff flat
First Floor
• 12 en suite bedrooms

External
Parking for minimum 6 vehicles to front
Expansion potential:Full planning permission is held to reconvert the property back to 3 substantial terraced dwellings, and each would have parking for at least 2 vehicles. As an alternative, the buyer could consider an application to convert the building into flats. The property is ideally located for the centre of Great Yarmouth and the seafront. The immediate area would prove attractive from the perspective of buyers of substantial terraced properties. Please let us know if you require finance for the purchase of a business.
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