EAST SUSSEX - SUBSTANTIAL RIVERSIDE HOTEL & RESTAURANT
Rye, East Sussex
Ref: 46152
£1,750,000
Freehold
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Key Features
Precis
Rare opportunity to acquire a sizeable river side hotel in a prime East Sussex tourist town.
Location
The River Haven Hotel is located in the citadel town of Rye, in the Rother District of East Sussex. This historic cinque ports town lies approximately 2 miles from the sea. The area is well known for its stunning country setting, as well as its wealth of historical attractions including Rye Castle, Mermaid Street, Rye Harbour, Camber Castle and Winchelsea. Also nearby are more modern attractions such as Camber Sands and Rye Watersports. The area is popular all year round with tourists, day trippers, walkers and motorcycle enthusiasts. The area is serviced by a number of A and B roads which connect Rye to other neighbouring honeypot towns such as Tenterden, New Romney and Hastings. Mainline rail services are available from Rye on the Marshlink line, providing southern services to Hastings and Ashford International, with onward services to London.
The River Haven Hotel occupies a prominent quayside position in an area of the town well-trodden by tourists. The property sits on plot measuring in the region of 0.44 acres. This substantial detached property is understood to date from the 1980s and is of brick construction under a pitched tiled roof.
The property briefly comprises: -
The River Haven Hotel occupies a prominent quayside position in an area of the town well-trodden by tourists. The property sits on plot measuring in the region of 0.44 acres. This substantial detached property is understood to date from the 1980s and is of brick construction under a pitched tiled roof.
The property briefly comprises: -
Property
PUBLIC AREAS
Entrance from side of property via LOBBY into ENTRANCE HALL and RECEPTION AREA with desk. LADIES', GENTLEMEN'S and DISABLED TOILETS offset.
The River Haven Hotel boasts an impressive open plan BAR and RESTAURANT area, presented with stripped wood flooring, part-paneled walls, industrial lighting, and wood-built Bar Servery. The restaurant provides river side views and is capable of providing seating for 55-60 residents.
Centrally located within the property there is a fully fitted TRADE KITCHEN, equipped with a range of commercial facilities including extractor, two six burner range cookers and a range of undercounter fridges. Offset is a PREP KITCHEN with fridge and freezer storage.
Ancillary areas include ground floor chilled BARREL STORE, BOILER ROOM and LAUNDRY ROOM with a range of commercial washing, dry and pressing utilities.
LETTING ACCOMMODATION
GROUND FLOOR (with disabled access)
6 X DOUBLE BEDROOMS WITH ENSUITE BATHROOM.
3 X FAMILY BEDROOMS WITH ENSUITE BATHROOM.
LINEN STORE.
CLEANING CUPBOARD.
FIRST FLOOR
6 X DOUBLE BEDROOMS WITH ENSUITE BATHROOM.
3 X FAMILY BEDROOMS WITH BATHROOM.
LINEN STORE.
CLEANING CUPBOARD.
SECOND FLOOR
2 X TRIPLE BEDROOMS WITH ENSUITE SHOWERS.
1 X DOUBLE BEDROOM WITH ENSUITE SHOWER.
OWNERS ACCOMMODATION
Located at first floor level there is a MANAGER’S BEDSIT which is currently used for the night porter, comprising a DOUBLE BEDROOM with KITCHENETTE and SHOWER offset.
EXTERNAL
To the front of the property there is a tarmacked CAR PARK which provides space for 20-25 vehicles.
To the side of the property there is an attractive riverside TERRACE which provides external seating for 20-30.
To the rear there is a QUAYSIDE STRIP OF LAND which is used as outside trade space providing additional seating for 30. It should be noted that this area of land is subject to a new lease agreement from the Environment Agency.
Furthermore, to the side of the property there is a CAR PARK area which is available to rent from the Environment Agency which produces additional pay and display income for the business.
Entrance from side of property via LOBBY into ENTRANCE HALL and RECEPTION AREA with desk. LADIES', GENTLEMEN'S and DISABLED TOILETS offset.
The River Haven Hotel boasts an impressive open plan BAR and RESTAURANT area, presented with stripped wood flooring, part-paneled walls, industrial lighting, and wood-built Bar Servery. The restaurant provides river side views and is capable of providing seating for 55-60 residents.
Centrally located within the property there is a fully fitted TRADE KITCHEN, equipped with a range of commercial facilities including extractor, two six burner range cookers and a range of undercounter fridges. Offset is a PREP KITCHEN with fridge and freezer storage.
Ancillary areas include ground floor chilled BARREL STORE, BOILER ROOM and LAUNDRY ROOM with a range of commercial washing, dry and pressing utilities.
LETTING ACCOMMODATION
GROUND FLOOR (with disabled access)
6 X DOUBLE BEDROOMS WITH ENSUITE BATHROOM.
3 X FAMILY BEDROOMS WITH ENSUITE BATHROOM.
LINEN STORE.
CLEANING CUPBOARD.
FIRST FLOOR
6 X DOUBLE BEDROOMS WITH ENSUITE BATHROOM.
3 X FAMILY BEDROOMS WITH BATHROOM.
LINEN STORE.
CLEANING CUPBOARD.
SECOND FLOOR
2 X TRIPLE BEDROOMS WITH ENSUITE SHOWERS.
1 X DOUBLE BEDROOM WITH ENSUITE SHOWER.
OWNERS ACCOMMODATION
Located at first floor level there is a MANAGER’S BEDSIT which is currently used for the night porter, comprising a DOUBLE BEDROOM with KITCHENETTE and SHOWER offset.
EXTERNAL
To the front of the property there is a tarmacked CAR PARK which provides space for 20-25 vehicles.
To the side of the property there is an attractive riverside TERRACE which provides external seating for 20-30.
To the rear there is a QUAYSIDE STRIP OF LAND which is used as outside trade space providing additional seating for 30. It should be noted that this area of land is subject to a new lease agreement from the Environment Agency.
Furthermore, to the side of the property there is a CAR PARK area which is available to rent from the Environment Agency which produces additional pay and display income for the business.
The Business
Our clients have built, owned, and operated the River Haven Hotel since 1999 and are now looking to sell the freehold interest in order to retire. The business caters for visitors and tourists to the area as well as those travelling for business.
Trade profit and loss accounts for the year ending 30th November 2019 show a gross turnover of £449,448, generating a strong gross profit, and operating profits in the region of £43,000 per annum. Further accounting details can be made available to serious parties following a formal viewing.
The business benefits from a mooring which generates a turnover of £4,000 per annum.
We are of the opinion that the River Haven Hotel would suit a hands-on owner operator or managed business model alike. A new operator could dramatically increase turnover with an increase in occupational rates as well as by greater utilizing the restaurant space in order to draw lunch and evening trade from the town centre.
Trade profit and loss accounts for the year ending 30th November 2019 show a gross turnover of £449,448, generating a strong gross profit, and operating profits in the region of £43,000 per annum. Further accounting details can be made available to serious parties following a formal viewing.
The business benefits from a mooring which generates a turnover of £4,000 per annum.
We are of the opinion that the River Haven Hotel would suit a hands-on owner operator or managed business model alike. A new operator could dramatically increase turnover with an increase in occupational rates as well as by greater utilizing the restaurant space in order to draw lunch and evening trade from the town centre.
Tenure
FREEHOLD £1,750,000 to include fixtures, fittings and goodwill. Stock at valuation in addition.
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
Licence
A full Premises Licence is held.
Services
All main services are connected.
Rateable Value: £58,500
Local Authority: Rother District Council, Town Hall, London Road, Bexhill-on-Sea, East Sussex TN39 3JX
Rateable Value: £58,500
Local Authority: Rother District Council, Town Hall, London Road, Bexhill-on-Sea, East Sussex TN39 3JX
Planning
We are of the opinion that the River Haven Hotel could be suitable for alternative uses or redevelopment, subject to planning permission. Any parties interested in this avenue should conduct their own investigations with the Local Authority.
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Robert Cockayne
South East & London
