the merchant house, falmouth road, truro, cornwall, tr1 2hl ... - Realla
THE MERCHANT HOUSE, FALMOUTH ROAD, TRURO, CORNWALL, TR1 2HL
ASKING PRICE £1,500,000
B39593 staff . AN IMPOSING DETACHED HOTEL IN THE CATHEDRAL CITY OF TRURO 29 RECENTLY REFURBISHED EN-SUITE ROOMS TWO GUEST LOUNGES, BAR, FUNCTION ROOM (65 COVERS) ONE BEDROOM OWNERS ACCOMMODATION/LETTING SUITE EPC RATING (C) LOCATION The Merchant House is situated on Falmouth Road in the busy Cathedral City of Truro. As the main administrative and commercial centre for Cornwall, Truro has seen significant commercial and residential investment in recent years and is a thriving and vibrant City. The continuing residential development in and around the City, together with plans for a new stadium and expansive development just to the west, mean the area will see continuing growth, certainly for the foreseeable future. PROPERTY The Merchant House is an imposing, detached early 19th Century hotel boasting many architectural features of the era, including an attractive portico entrance with large feature bay windows on either side to both the ground and first floors.
The property comprises 29 en-suite letting rooms, a breakfast room/small conference room, guest lounge, lounge bar and large function room, together with one bedroomed owners accommodation which is currently let as a guest suite. The hotel benefits from extensive parking together with a garage, shed and small enclosed garden area to the rear. BUSINESS The hotel has been in our clients tenure the past five years, during which time it has undergone extensive refurbishment and all rooms and communal areas are now presented to a very high standard.
Currently operating on a bed and breakfast basis only, the hotel derives trade from both tourism and the business and commercial sectors. This demographic, together with its location, mean the hotel enjoys consistent year round trade, being far less susceptible to the seasonal volatility experienced by its coastal counterparts.
Bookings are generated through the following online portals; bookings.com, expedia.com, travelrepublic.com and elvoline and through the hotels own website: www.merchant-house.co.uk
It is considered that there is significant scope to further increase turnover by introducing a food offering and by maximising use of the function facilities for weddings and events and conferences. SCHEDULE OF ACCOMMODATION (all areas and dimensions are approximate) GROUND FLOOR The hotel is accessed via an impressive columned portico entrance with double doors leading to:ENTRANCE VESTIBULE Part glazed door to:RECEPTION AREA 5.7 5m x 2m plus 4.7 4m x 2.4 2m. Built in reception desk, to the rear of which there is staff access to the bar. Impressive staircase to the upper floors with a large feature stained glass window. Doors to:THE TRADING ROOM - BREAKFAST ROOM 6.03 m into bay x 4 .71m max. A multi function room that is used currently as a breakfast room (28 covers) but could also be used as a meeting room for smaller groups. Large bay window to the front, feature cornice, ceiling rose chandelier and dado rail. Inset cast iron log burner, slate hearth and surround. MAIN GUEST LOUNGE 7.04m into bay x 4.82m. Large feature bay window to front. Range of seating to include sofas and wooden tables and chairs providing seating for approximately 22 guests. Feature cornice, ceiling rose and chandelier. Inset cast iron log burner with slate hearth and surround. Access to:LOUNGE BAR 6.44m x 4.83m. Built-in wooden bar servery running the length of the room with 3 Blizzard and one Gamco undercounter drinks fridges, Sharp till, Coffee Shop coffee machine, highback upholstered seating and freestanding tables and chairs for up to 14 guests . Windows to side elevation. Feature cornice, ceiling rose and chandelier . Small pane double doors to:INNER LOBBY 2m x 1.55m. CUSTOMER WC'S
Accounts for the year ending April 2016 show a turnover of £570,493 with an adjusted net profit of £130,330. Trading figures for the current tax year, (ending 31st of March 2017), are expected to show a further uplift in sales to £631,000, culminating in an adjusted net profit of £165,000 .
Whilst our clients have achieved an impressive year on year increase in sales and profitability during their ownership, they choose to operate the business on a low maintenance basis and, whilst they oversee all operations, the hotel is primarily run by
LADIES WC Vanity wc and wash hand basin with storage cupboards below. MENS/DISABLED WC Low-level wc, wall mounted wash hand basin. REAR LOBBY 3.03m max x 2.68m max. Door to side elevation giving access to car park. Walk in linen cupboard. Microwave for guest use. THE SHIPPING ROOM - FUNCTION SUITE 12.51m max x 9.21m max. Providing up to 65 covers , a dual aspect room with windows to both side elevations. Part wood panelled walls. Ceiling spotlights double fire doors to side elevation. This room is currently used for breakfasts when there are large numbers of guests in the hotel and wakes and can also be used for conferences & seminars. KITCHEN 10.44 m x 3.94 m. A spacious, well-equipped commercial kitchen comprising Falcon 4 burner gas hob with 3 vent extraction over, stainless steel 6 burner commercial gas range with 4 vent extraction hood over, Lincat double hot cupboard, double stainless steel hot cupboard 2 large stainless steel double sink drainers, Eco-Max dishwasher, Logic upright fridge freezer, Polar upright fridge Electrolux upright fridge, walk-in storage cupboard. Window to side elevation. Door/fire exit side elevation. CROCKERY/CUTLERY STATION 2.64m x 1.98m. Stainless steel sink drainer with storage below. Beko under counter fridge, range of built-in and wall mounted shelving. CELLAR STOREROOM 4.67m max x 3.38 m. Gram upright freezer, upright drinks fridge, large chest freezer, Electrolux upright freezer, window to side elevation MANAGER'S OFFICE 3.02m x 2.25m. (Accessed from reception) window to side elevation.
GUESTS' LAUNDRY/DRYING ROOM 2.36 m x 2.42 m. Beko 5 kg washing machine, Hotpoint 7 kg washing machine. 2 obscure glazed windows to side elevation. FORMER SPA AREA Whilst not currently in use, the spa area is equipped with a Jacuzzi and sauna. Subject to the usual consent, this area could be utilised as additional owners managers accommodation. GUEST ACCOMMODATION Arranged over three floors, the accommodation comprises 29 en-suite guest bedrooms, including a Super King Room with bath and separate shower, 6 King Sized Double Rooms, (one of which has an en-suite bathroom), 2 Comfortable Family Rooms, (one with an ensuite bathroom), 2 Comfortable Twin Rooms, 13 Cosy Double Rooms, 1 Enhanced Accessibility Double Room with Wet Room and 3 Cosy Single Rooms. The owners accommodation is currently let as a King Sized Suite.
B39593 8 of the Ground Floor rooms are Pet Friendly and all rooms are equipped with flat screen televisions and the usual amenities.
ENERGY PERFORMANCE CERTIFICATE The Energy Performance Rating for this property is within Band C.
OWNERS ACCOMMODATION Located on the first floor the owners accommodation comprises:-
INVENTORY An Inventory of all loose chattels and equipment, free of any lease/lien, to be included within the sale will be supplied by Miller Commercial prior to exchange of Contracts.
ENTRANCE HALL WITH KITCHENETTE 2.78 m X 2.49 m. Sink unit with a range of cupboards and drawers.
LIVING ROOM 5.91m into bay x 4.92 m. Large feature bay window to front. Feature open fireplace (working). BEDROOM 6.04 m into bay x 4.39 m. Large feature bay window to front. Feature open fireplace (working).
PREMISES LICENCE The property has the benefit of a premises licence. Under the licensing act 2003 it is a requirement that properties serving alcohol have a dedicated premises supervisor who must hold a personal licence. Prospective purchasers are advised to take the appropriate advice in this regard. BUSINESS RATES We refer you to the government website https://www.tax.service.gov.uk/view-myvaluation/search.
BATHROOM/WC
STOCK To be taken at valuation.
N.B. Our clients no longer live at the hotel and this area is currently let as a suite.
SUPERFAST BROADBAND For more information on whether the premises are capable of benefitting from the new high speed fibre-based broadband connection visit http://www.superfastcornwall.org/.
OUTSIDE There is parking to both the front and rear of the property providing approximately 30 spaces. To the rear of the hotel is a garage and store and enclosed garden area.
VALUE ADDED TAX All the above prices/rentals are quoted exclusive of VAT, where applicable.
TENURE - FREEHOLD GENERAL INFORMATION LOCAL AUTHORITY Cornwall Council General Enquiries 0300-1234-100 Planning 0300-1234-151 www.cornwall.gov.uk
FINANCE If you require advice regarding the Financing of a Business, at no initial cost, please contact us on the number below. CONTACT INFORMATION For further information or an appointment to view please contact either:Graham Timmins on 01872 247019 or via email [email protected] or Paul Collins on 01872 247029 or via email [email protected] or Beverly Northey on 01872 247031 or via email [email protected]
PLANS: Plans and maps reproduced under Ordnance Survey Licence No LIG1179. Not to scale and for identification of the property only. They are not intended to show actual site boundaries and not guaranteed to be accurate. AGENTS NOTE: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] Any intending purchaser or tenant must satisfy him/herself by inspection or other wise as to the correctness of each of the statements contained in these particulars; [c] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [d] None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent. Miller Commercial is the trading name of Miller Commercial LLP registered in England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial LLP is Mansion House, Princes Street, Truro TR1 2RF. We use the term Partner to refer to a member of Miller Commercial LLP. VAT Registration No.643 4519 39. VIEWING: Strictly by prior appointment through Miller Commercial.
ASKING PRICE £1,500,000
B39593 staff . AN IMPOSING DETACHED HOTEL IN THE CATHEDRAL CITY OF TRURO 29 RECENTLY REFURBISHED EN-SUITE ROOMS TWO GUEST LOUNGES, BAR, FUNCTION ROOM (65 COVERS) ONE BEDROOM OWNERS ACCOMMODATION/LETTING SUITE EPC RATING (C) LOCATION The Merchant House is situated on Falmouth Road in the busy Cathedral City of Truro. As the main administrative and commercial centre for Cornwall, Truro has seen significant commercial and residential investment in recent years and is a thriving and vibrant City. The continuing residential development in and around the City, together with plans for a new stadium and expansive development just to the west, mean the area will see continuing growth, certainly for the foreseeable future. PROPERTY The Merchant House is an imposing, detached early 19th Century hotel boasting many architectural features of the era, including an attractive portico entrance with large feature bay windows on either side to both the ground and first floors.
The property comprises 29 en-suite letting rooms, a breakfast room/small conference room, guest lounge, lounge bar and large function room, together with one bedroomed owners accommodation which is currently let as a guest suite. The hotel benefits from extensive parking together with a garage, shed and small enclosed garden area to the rear. BUSINESS The hotel has been in our clients tenure the past five years, during which time it has undergone extensive refurbishment and all rooms and communal areas are now presented to a very high standard.
Currently operating on a bed and breakfast basis only, the hotel derives trade from both tourism and the business and commercial sectors. This demographic, together with its location, mean the hotel enjoys consistent year round trade, being far less susceptible to the seasonal volatility experienced by its coastal counterparts.
Bookings are generated through the following online portals; bookings.com, expedia.com, travelrepublic.com and elvoline and through the hotels own website: www.merchant-house.co.uk
It is considered that there is significant scope to further increase turnover by introducing a food offering and by maximising use of the function facilities for weddings and events and conferences. SCHEDULE OF ACCOMMODATION (all areas and dimensions are approximate) GROUND FLOOR The hotel is accessed via an impressive columned portico entrance with double doors leading to:ENTRANCE VESTIBULE Part glazed door to:RECEPTION AREA 5.7 5m x 2m plus 4.7 4m x 2.4 2m. Built in reception desk, to the rear of which there is staff access to the bar. Impressive staircase to the upper floors with a large feature stained glass window. Doors to:THE TRADING ROOM - BREAKFAST ROOM 6.03 m into bay x 4 .71m max. A multi function room that is used currently as a breakfast room (28 covers) but could also be used as a meeting room for smaller groups. Large bay window to the front, feature cornice, ceiling rose chandelier and dado rail. Inset cast iron log burner, slate hearth and surround. MAIN GUEST LOUNGE 7.04m into bay x 4.82m. Large feature bay window to front. Range of seating to include sofas and wooden tables and chairs providing seating for approximately 22 guests. Feature cornice, ceiling rose and chandelier. Inset cast iron log burner with slate hearth and surround. Access to:LOUNGE BAR 6.44m x 4.83m. Built-in wooden bar servery running the length of the room with 3 Blizzard and one Gamco undercounter drinks fridges, Sharp till, Coffee Shop coffee machine, highback upholstered seating and freestanding tables and chairs for up to 14 guests . Windows to side elevation. Feature cornice, ceiling rose and chandelier . Small pane double doors to:INNER LOBBY 2m x 1.55m. CUSTOMER WC'S
Accounts for the year ending April 2016 show a turnover of £570,493 with an adjusted net profit of £130,330. Trading figures for the current tax year, (ending 31st of March 2017), are expected to show a further uplift in sales to £631,000, culminating in an adjusted net profit of £165,000 .
Whilst our clients have achieved an impressive year on year increase in sales and profitability during their ownership, they choose to operate the business on a low maintenance basis and, whilst they oversee all operations, the hotel is primarily run by
LADIES WC Vanity wc and wash hand basin with storage cupboards below. MENS/DISABLED WC Low-level wc, wall mounted wash hand basin. REAR LOBBY 3.03m max x 2.68m max. Door to side elevation giving access to car park. Walk in linen cupboard. Microwave for guest use. THE SHIPPING ROOM - FUNCTION SUITE 12.51m max x 9.21m max. Providing up to 65 covers , a dual aspect room with windows to both side elevations. Part wood panelled walls. Ceiling spotlights double fire doors to side elevation. This room is currently used for breakfasts when there are large numbers of guests in the hotel and wakes and can also be used for conferences & seminars. KITCHEN 10.44 m x 3.94 m. A spacious, well-equipped commercial kitchen comprising Falcon 4 burner gas hob with 3 vent extraction over, stainless steel 6 burner commercial gas range with 4 vent extraction hood over, Lincat double hot cupboard, double stainless steel hot cupboard 2 large stainless steel double sink drainers, Eco-Max dishwasher, Logic upright fridge freezer, Polar upright fridge Electrolux upright fridge, walk-in storage cupboard. Window to side elevation. Door/fire exit side elevation. CROCKERY/CUTLERY STATION 2.64m x 1.98m. Stainless steel sink drainer with storage below. Beko under counter fridge, range of built-in and wall mounted shelving. CELLAR STOREROOM 4.67m max x 3.38 m. Gram upright freezer, upright drinks fridge, large chest freezer, Electrolux upright freezer, window to side elevation MANAGER'S OFFICE 3.02m x 2.25m. (Accessed from reception) window to side elevation.
GUESTS' LAUNDRY/DRYING ROOM 2.36 m x 2.42 m. Beko 5 kg washing machine, Hotpoint 7 kg washing machine. 2 obscure glazed windows to side elevation. FORMER SPA AREA Whilst not currently in use, the spa area is equipped with a Jacuzzi and sauna. Subject to the usual consent, this area could be utilised as additional owners managers accommodation. GUEST ACCOMMODATION Arranged over three floors, the accommodation comprises 29 en-suite guest bedrooms, including a Super King Room with bath and separate shower, 6 King Sized Double Rooms, (one of which has an en-suite bathroom), 2 Comfortable Family Rooms, (one with an ensuite bathroom), 2 Comfortable Twin Rooms, 13 Cosy Double Rooms, 1 Enhanced Accessibility Double Room with Wet Room and 3 Cosy Single Rooms. The owners accommodation is currently let as a King Sized Suite.
B39593 8 of the Ground Floor rooms are Pet Friendly and all rooms are equipped with flat screen televisions and the usual amenities.
ENERGY PERFORMANCE CERTIFICATE The Energy Performance Rating for this property is within Band C.
OWNERS ACCOMMODATION Located on the first floor the owners accommodation comprises:-
INVENTORY An Inventory of all loose chattels and equipment, free of any lease/lien, to be included within the sale will be supplied by Miller Commercial prior to exchange of Contracts.
ENTRANCE HALL WITH KITCHENETTE 2.78 m X 2.49 m. Sink unit with a range of cupboards and drawers.
LIVING ROOM 5.91m into bay x 4.92 m. Large feature bay window to front. Feature open fireplace (working). BEDROOM 6.04 m into bay x 4.39 m. Large feature bay window to front. Feature open fireplace (working).
PREMISES LICENCE The property has the benefit of a premises licence. Under the licensing act 2003 it is a requirement that properties serving alcohol have a dedicated premises supervisor who must hold a personal licence. Prospective purchasers are advised to take the appropriate advice in this regard. BUSINESS RATES We refer you to the government website https://www.tax.service.gov.uk/view-myvaluation/search.
BATHROOM/WC
STOCK To be taken at valuation.
N.B. Our clients no longer live at the hotel and this area is currently let as a suite.
SUPERFAST BROADBAND For more information on whether the premises are capable of benefitting from the new high speed fibre-based broadband connection visit http://www.superfastcornwall.org/.
OUTSIDE There is parking to both the front and rear of the property providing approximately 30 spaces. To the rear of the hotel is a garage and store and enclosed garden area.
VALUE ADDED TAX All the above prices/rentals are quoted exclusive of VAT, where applicable.
TENURE - FREEHOLD GENERAL INFORMATION LOCAL AUTHORITY Cornwall Council General Enquiries 0300-1234-100 Planning 0300-1234-151 www.cornwall.gov.uk
FINANCE If you require advice regarding the Financing of a Business, at no initial cost, please contact us on the number below. CONTACT INFORMATION For further information or an appointment to view please contact either:Graham Timmins on 01872 247019 or via email [email protected] or Paul Collins on 01872 247029 or via email [email protected] or Beverly Northey on 01872 247031 or via email [email protected]
PLANS: Plans and maps reproduced under Ordnance Survey Licence No LIG1179. Not to scale and for identification of the property only. They are not intended to show actual site boundaries and not guaranteed to be accurate. AGENTS NOTE: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] Any intending purchaser or tenant must satisfy him/herself by inspection or other wise as to the correctness of each of the statements contained in these particulars; [c] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [d] None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent. Miller Commercial is the trading name of Miller Commercial LLP registered in England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial LLP is Mansion House, Princes Street, Truro TR1 2RF. We use the term Partner to refer to a member of Miller Commercial LLP. VAT Registration No.643 4519 39. VIEWING: Strictly by prior appointment through Miller Commercial.
