the derbyshire
THE DERBYSHIRE
DERBY, DE55 2EH
EXECUTIVE SUMMARY
Excellent location of Junction 28 of the M1 Motorway approximately 16 and 18 miles north of Nottingham and Derby with
157 en-suite bedrooms
The Tempus Restaurant (120 covers) and Lounge bar
14 conference rooms including The William Duesbury Suite (250 covers)
More than 200 on-site car parking spaces
Health and leisure club equipped with a gym, pool and spa facilities
Planning permission for an additional 54 bedrooms granted in January 2016
THE OPPORTUNITY The four star Derbyshire Hotel offers an excellent opportunity to acquire an established, contemporary hotel with a diverse range of income streams, which is strategically located immediately off Junction 28 of the M1 Motorway. The Hotel benefits from existing planning permission for an additional 54 bedrooms which may further drive future revenue.
DERBYSHIRE HOTEL | 2
LOCATION
CONNECTIVITY
The Derbyshire Hotel is conveniently located at the intersection of Junction 28 of the M1 Motorway and the A38 and therefore benefits from immediate access to the regional and national motorway network. Nottingham and Derby city centres are both situated approximately 18 miles to the south. The Hotel is within easy access of East Midlands Airport which is located 24 miles south of the Hotel and immediately adjacent to Junction 23A of the M1. Major attractions in the nearby surroundings include the scenic Peak District, historic Chatsworth House, Alton Towers, and a MacArthurGlen Outlet Village which is only a 5 minute drive from the Hotel.
Sheffield
The East Midlands Airport serves approximately 4 million passengers per annum and is marginally shy of being in the top 10 busiest airports by passenger traffic in the UK. Derby is well connected to the national motorway network via the M1 which provides access to London to the South and Sheffield to the North. Derby is well serviced by the national railway network with journey times to London, Birmingham and Sheffield of 1 hour 29 minutes, 34 minutes and 28 minutes respectively.
A1
COMMERCE
M1 A623 A614 A6
Peak District Chatsworth House
The East Midlands Airport serves approximately 4 million passengers per annum and is marginally shy of being in the top 10 busiest airports by passenger traffic in the UK. Notably the airport is the largest airport in the UK for dedicated freight traffic with cargo revenue being up 8.8% between April and September 2015. Derby is well connected to the national motorway network via the M1 which provides access to London to the South and Sheffield to the North.
A515
Derby is well serviced by the national railway network with journey times to London, Birmingham and Sheffield of 1 hour 29 minutes, 34 minutes and 28 minutes respectively.
THE DERBYSHIRE, DERBY A6
McArthur Glen Shopping Village
A38 A610
M1 A60
Alton Towers
A52
Derby
Nottingham East Midlands Airport
DERBYSHIRE HOTEL | 3
PROPERTY The Hotel boasts 157 en-suite bedrooms comprising the following split:
GUEST ROOMS Standard Twin Standard Double
Quantity 32 119
Executive Double Total
6 157
All rooms are en-suite and include a TV, working desk and tea & coffee making facilities. There is free Wi-Fi throughout the hotel.
CAR PARKING The Hotel benefits from a large, on-site car parking area which provides more than 200 spaces.
FOOD & BEVERAGE The recently refurbished Tempus Restaurant and Bar offer customers drinks and a locally sourced, traditional British menu and accompany snacks. Customers can order lunch from a Day Deli which is delivered direct to the conference suites and meeting rooms. Alternatively, buffet lunches and 3 course a la carte menu is available at the Tempus Restaurant.
FOOD & BEVERAGE Tempus Restaurant Lounge Bar
Covers 120 Variable
DERBYSHIRE HOTEL | 4
LEISURE FACILITIES The Derbyshire Hotel offers extensive leisure facilities through its on site leisure club. Facilities here include a modern, airconditioned gym, swimming pool, sauna, steam room and Jacuzzi. Beauty treatments are available also from the hotel’s spa. There are currently approximately 300 external members of the gym/ leisure facilities.
CONFERENCE ROOMS & WEDDING VENUE The Hotel has extensive wedding, conference and events facilities, including the William Duesbury Suite which has the capacity for 250 delegates. There are 14 event rooms in total of varying sizes and capabilities. Additionally, the Hotel has a dedicated business centre with its own team and reception. A summary of the conference rooms is depicted below:
ROOMS William Duesbury
THEATRE BANQUET DINNER DANCE
CABARET
CLASSROOM
U-SHAPE
BOARDROOM
250
220
160
130
120
-
-
Red Aves
65
40
-
40
24
25
25
Gold Aves
60
40
-
40
24
20
20
Old Aves
75
50
-
48
36
25
25
Seminar 1
15
12
-
-
8
12
12
Seminar 2
40
10
-
24
20
20
18
Seminar 3
40
10
-
24
20
20
18
Seminar 4
40
10
-
24
20
20
18
Denby 1
-
10
-
-
-
-
10
Denby 2
-
10
-
-
-
-
10
Denby 3
-
10
-
-
-
-
10
15
10
-
-
-
-
10
-
14
-
-
-
-
14
100
100
100
-
-
-
-
Sherwood Signature Room Pavilion
THE POTENTIAL The Hotel has significant rate upside potential in 2016 and beyond. There is planning permission for an additional 54 bedrooms which was granted in January 2016 (no works commenced to date).
DERBYSHIRE HOTEL | 5
GENERAL INFORMATION
TENURE AND BASIS OF SALE
EPC
The Derbyshire is held long leasehold at a peppercorn rent of 999 years from September 1997.
EPC Rating C - 52
VAT
INVENTORY & STOCK Fixtures, fittings and equipment are included in the sale with general stock at valuation or completion.
Should the sale of the property or any right attached to it be deemed a chargeable supply for VAT purposes, such tax will be payable by the purchaser in addition to the sale price.
SERVICES The Hotel has mains electric, gas and water.
PRICE
LICENCES
We are instructed to invite offers for the long leasehold interest in excess of £13,000,000 (Thirteen Million Pounds), subject to contract and exclusive of VAT.
The Hotel has Premises and Civil Wedding Licenses.
TRADE
OWNERSHIP 13
7.
5m
A UK company, The Derbyshire Hotel Derby Limited owns and operates the hotel.
2
25
E l S ub Sta
12a
1
El
a
Su
t bS
134.1m
CA
RT
ER
LA
NE
EA
ST
Full trading information is available to interested parties through the sole selling agents under a confidentiality agreement. A simple summary of actual trade is provided below:
RATEABLE VALUE The Hotel has a current rateable value of £300,000. The Hotel has been assigned a rateable value of £316,000 in the 2017 draft list.
ED &W
YEAR END
a rd Bdy
0m
YE2013
YE2014
YE2015
YE2016
3,871,148
£4,200,890
£4,365,343
£4,641,580
Occupancy
67.80%
71.90%
71.00%
76.50%
ADR
£51.88
£54.35
£57.78
£56.40
RevPar
£35.20
£39.10
£41.00
£43.10
Total Revenue
25m
50m
75m
Ordnance Survey © Crown Copyright 2017. All rights reserved. L icence number 100022432. Plotted Scale - 1: 1716
MILTON HILL | 6 DERBYSHIRE HOTEL
FURTHER INFORMATION
CONTACT DETAILS
Detailed information relating to the property and the performance of the hotel can be found within a secure data-site. For access, please request a Confidentiality Agreement from the Project Team.
CONDITIONS OF THE JOINT AGENTS’S INFORMATION These sales particulars are prepared as a general guide to the property (which expression includes business and trade content, if any, included in the sale) for the convenience of a prospective purchaser (an “Acquirer”) and are intended for business people familiar with commercial transactions. If you are not sure that you fit this description you should take relevant independent advice before proceeding further. Christie & Co and Savills (“The Joint Agents”) for themselves and for the Client, give notice that: (a) these particulars are made without responsibility on the part of The Joint Agents or the Client; they do not obviate the need to make appropriate searches, enquiries and inspections, nor do they constitute any part of an offer or contract, and statements herein are not to be relied upon as statements or representations of fact; any Acquirer must satisfy himself, by inspection or otherwise, as to their correctness and any error, omission or mis-description therein shall not affect or annul the sale or be grounds for rescission or compensation; (b) the Client does not make or give, and neither The Joint Agents nor any of their employees has any authority to make or give, any representation or warranty whatsoever in relation to the properties; (c) The Joint Agents have not carried out a detailed survey, nor tested the services, appliances and specific fittings; (d) dimensions (where given) are approximate and should be verified by an Acquirer; and (e) any accounts or financial statements or registration information provided to an Acquirer are provided on behalf of the Client by The Joint Agents, who cannot therefore offer any guarantee of their completeness or accuracy, and accordingly shall not be liable for any loss, damage, cost, expenses or other claims for compensation arising from inaccuracies or omissions therein. These details were believed to be correct at the date of publication but their accuracy is not guaranteed. Subject to contract. Copyright Reserved The Joint Agents. February 2017
Jeremy Jones Head of Brokerage – Hotels T 0207 227 0755 M 07764 241 284 E [email protected]
Alex Campbell Director – Hotels T 0207 227 0727 M 07714 138 985 E [email protected]
Tom Cunningham Director – Leisure & Trading T 016 1244 7709 M 07894 341 564 E [email protected]
Martin Rogers Director T 0207 409 8039 M 07972 000 267 E [email protected] DERBYSHIRE HOTEL | 7
DERBY, DE55 2EH
EXECUTIVE SUMMARY
Excellent location of Junction 28 of the M1 Motorway approximately 16 and 18 miles north of Nottingham and Derby with
157 en-suite bedrooms
The Tempus Restaurant (120 covers) and Lounge bar
14 conference rooms including The William Duesbury Suite (250 covers)
More than 200 on-site car parking spaces
Health and leisure club equipped with a gym, pool and spa facilities
Planning permission for an additional 54 bedrooms granted in January 2016
THE OPPORTUNITY The four star Derbyshire Hotel offers an excellent opportunity to acquire an established, contemporary hotel with a diverse range of income streams, which is strategically located immediately off Junction 28 of the M1 Motorway. The Hotel benefits from existing planning permission for an additional 54 bedrooms which may further drive future revenue.
DERBYSHIRE HOTEL | 2
LOCATION
CONNECTIVITY
The Derbyshire Hotel is conveniently located at the intersection of Junction 28 of the M1 Motorway and the A38 and therefore benefits from immediate access to the regional and national motorway network. Nottingham and Derby city centres are both situated approximately 18 miles to the south. The Hotel is within easy access of East Midlands Airport which is located 24 miles south of the Hotel and immediately adjacent to Junction 23A of the M1. Major attractions in the nearby surroundings include the scenic Peak District, historic Chatsworth House, Alton Towers, and a MacArthurGlen Outlet Village which is only a 5 minute drive from the Hotel.
Sheffield
The East Midlands Airport serves approximately 4 million passengers per annum and is marginally shy of being in the top 10 busiest airports by passenger traffic in the UK. Derby is well connected to the national motorway network via the M1 which provides access to London to the South and Sheffield to the North. Derby is well serviced by the national railway network with journey times to London, Birmingham and Sheffield of 1 hour 29 minutes, 34 minutes and 28 minutes respectively.
A1
COMMERCE
M1 A623 A614 A6
Peak District Chatsworth House
The East Midlands Airport serves approximately 4 million passengers per annum and is marginally shy of being in the top 10 busiest airports by passenger traffic in the UK. Notably the airport is the largest airport in the UK for dedicated freight traffic with cargo revenue being up 8.8% between April and September 2015. Derby is well connected to the national motorway network via the M1 which provides access to London to the South and Sheffield to the North.
A515
Derby is well serviced by the national railway network with journey times to London, Birmingham and Sheffield of 1 hour 29 minutes, 34 minutes and 28 minutes respectively.
THE DERBYSHIRE, DERBY A6
McArthur Glen Shopping Village
A38 A610
M1 A60
Alton Towers
A52
Derby
Nottingham East Midlands Airport
DERBYSHIRE HOTEL | 3
PROPERTY The Hotel boasts 157 en-suite bedrooms comprising the following split:
GUEST ROOMS Standard Twin Standard Double
Quantity 32 119
Executive Double Total
6 157
All rooms are en-suite and include a TV, working desk and tea & coffee making facilities. There is free Wi-Fi throughout the hotel.
CAR PARKING The Hotel benefits from a large, on-site car parking area which provides more than 200 spaces.
FOOD & BEVERAGE The recently refurbished Tempus Restaurant and Bar offer customers drinks and a locally sourced, traditional British menu and accompany snacks. Customers can order lunch from a Day Deli which is delivered direct to the conference suites and meeting rooms. Alternatively, buffet lunches and 3 course a la carte menu is available at the Tempus Restaurant.
FOOD & BEVERAGE Tempus Restaurant Lounge Bar
Covers 120 Variable
DERBYSHIRE HOTEL | 4
LEISURE FACILITIES The Derbyshire Hotel offers extensive leisure facilities through its on site leisure club. Facilities here include a modern, airconditioned gym, swimming pool, sauna, steam room and Jacuzzi. Beauty treatments are available also from the hotel’s spa. There are currently approximately 300 external members of the gym/ leisure facilities.
CONFERENCE ROOMS & WEDDING VENUE The Hotel has extensive wedding, conference and events facilities, including the William Duesbury Suite which has the capacity for 250 delegates. There are 14 event rooms in total of varying sizes and capabilities. Additionally, the Hotel has a dedicated business centre with its own team and reception. A summary of the conference rooms is depicted below:
ROOMS William Duesbury
THEATRE BANQUET DINNER DANCE
CABARET
CLASSROOM
U-SHAPE
BOARDROOM
250
220
160
130
120
-
-
Red Aves
65
40
-
40
24
25
25
Gold Aves
60
40
-
40
24
20
20
Old Aves
75
50
-
48
36
25
25
Seminar 1
15
12
-
-
8
12
12
Seminar 2
40
10
-
24
20
20
18
Seminar 3
40
10
-
24
20
20
18
Seminar 4
40
10
-
24
20
20
18
Denby 1
-
10
-
-
-
-
10
Denby 2
-
10
-
-
-
-
10
Denby 3
-
10
-
-
-
-
10
15
10
-
-
-
-
10
-
14
-
-
-
-
14
100
100
100
-
-
-
-
Sherwood Signature Room Pavilion
THE POTENTIAL The Hotel has significant rate upside potential in 2016 and beyond. There is planning permission for an additional 54 bedrooms which was granted in January 2016 (no works commenced to date).
DERBYSHIRE HOTEL | 5
GENERAL INFORMATION
TENURE AND BASIS OF SALE
EPC
The Derbyshire is held long leasehold at a peppercorn rent of 999 years from September 1997.
EPC Rating C - 52
VAT
INVENTORY & STOCK Fixtures, fittings and equipment are included in the sale with general stock at valuation or completion.
Should the sale of the property or any right attached to it be deemed a chargeable supply for VAT purposes, such tax will be payable by the purchaser in addition to the sale price.
SERVICES The Hotel has mains electric, gas and water.
PRICE
LICENCES
We are instructed to invite offers for the long leasehold interest in excess of £13,000,000 (Thirteen Million Pounds), subject to contract and exclusive of VAT.
The Hotel has Premises and Civil Wedding Licenses.
TRADE
OWNERSHIP 13
7.
5m
A UK company, The Derbyshire Hotel Derby Limited owns and operates the hotel.
2
25
E l S ub Sta
12a
1
El
a
Su
t bS
134.1m
CA
RT
ER
LA
NE
EA
ST
Full trading information is available to interested parties through the sole selling agents under a confidentiality agreement. A simple summary of actual trade is provided below:
RATEABLE VALUE The Hotel has a current rateable value of £300,000. The Hotel has been assigned a rateable value of £316,000 in the 2017 draft list.
ED &W
YEAR END
a rd Bdy
0m
YE2013
YE2014
YE2015
YE2016
3,871,148
£4,200,890
£4,365,343
£4,641,580
Occupancy
67.80%
71.90%
71.00%
76.50%
ADR
£51.88
£54.35
£57.78
£56.40
RevPar
£35.20
£39.10
£41.00
£43.10
Total Revenue
25m
50m
75m
Ordnance Survey © Crown Copyright 2017. All rights reserved. L icence number 100022432. Plotted Scale - 1: 1716
MILTON HILL | 6 DERBYSHIRE HOTEL
FURTHER INFORMATION
CONTACT DETAILS
Detailed information relating to the property and the performance of the hotel can be found within a secure data-site. For access, please request a Confidentiality Agreement from the Project Team.
CONDITIONS OF THE JOINT AGENTS’S INFORMATION These sales particulars are prepared as a general guide to the property (which expression includes business and trade content, if any, included in the sale) for the convenience of a prospective purchaser (an “Acquirer”) and are intended for business people familiar with commercial transactions. If you are not sure that you fit this description you should take relevant independent advice before proceeding further. Christie & Co and Savills (“The Joint Agents”) for themselves and for the Client, give notice that: (a) these particulars are made without responsibility on the part of The Joint Agents or the Client; they do not obviate the need to make appropriate searches, enquiries and inspections, nor do they constitute any part of an offer or contract, and statements herein are not to be relied upon as statements or representations of fact; any Acquirer must satisfy himself, by inspection or otherwise, as to their correctness and any error, omission or mis-description therein shall not affect or annul the sale or be grounds for rescission or compensation; (b) the Client does not make or give, and neither The Joint Agents nor any of their employees has any authority to make or give, any representation or warranty whatsoever in relation to the properties; (c) The Joint Agents have not carried out a detailed survey, nor tested the services, appliances and specific fittings; (d) dimensions (where given) are approximate and should be verified by an Acquirer; and (e) any accounts or financial statements or registration information provided to an Acquirer are provided on behalf of the Client by The Joint Agents, who cannot therefore offer any guarantee of their completeness or accuracy, and accordingly shall not be liable for any loss, damage, cost, expenses or other claims for compensation arising from inaccuracies or omissions therein. These details were believed to be correct at the date of publication but their accuracy is not guaranteed. Subject to contract. Copyright Reserved The Joint Agents. February 2017
Jeremy Jones Head of Brokerage – Hotels T 0207 227 0755 M 07764 241 284 E [email protected]
Alex Campbell Director – Hotels T 0207 227 0727 M 07714 138 985 E [email protected]
Tom Cunningham Director – Leisure & Trading T 016 1244 7709 M 07894 341 564 E [email protected]
Martin Rogers Director T 0207 409 8039 M 07972 000 267 E [email protected] DERBYSHIRE HOTEL | 7
