Grade 2 Listed Hotel with 12 en-suite bedrooms all recently refurbished. Also has new Planning Permission for conversion to 6 apartments 1 detached dwelling.
Lounge Bar C20
Function room C20
Great occupancy rates, prominently located in the centre of historical Downham Market, Norfolk.
The Castle Hotel boats extensive family living accommodation and more than ample guest parking for 15 vehicles.
- Planning Permission
- Convert to 6 Apartments
- Brewhouse to 1 Dwelling
- Large Bar
- Good sized Restaurant
- Commanding Town Presence
- Fastidiously Maintained
- Car Parking for 15 Vehicles
- Large Living Accommodation
- T/O £302,000
- Reference: K010319F
- Type: Hotel
- Status: For Sale
- Reception Rooms: 1
- Bedrooms: 12
- Bathrooms: 12
- Area: 2000sqft
Centrally located in the Norfolk town of Downham Market some 11 miles from King's Lynn, 14 miles from Wisbech, and Peterborough some 33 miles away.
The commanding presence of this Hotel is plain to see, and you will have no difficulty in locating it.
Cambridge is reached in just 30 minutes by Train with London Kings Cross just 90 minutes away. The major trunk roads A10 and the A134 underpin the towns qualities as being within the popular commuter belt.
The Castle Hotel is an imposing structure built of stone under a tiled roof with a Castellated frontage, the external frontage is decked with flowers and quality furniture in the spring and summer months. This venue has been welcoming guests for the past 350 years and does not look as if it plans to stop anytime soon.
Wonderfully tiled flooring frames the impressive chandelier, which is central to the Entrance and Reception area, period style fittings compliment the surroundings throughout.
The contemporarily decorated Lounge bar seats 18 - 20 comfortably with standing room at the solid wood bar, black and white historical pictures and quotations adorn the walls and ceiling which add to the history. Shoulder to shoulder on the Ground Floor are the recently decorated Function or Meeting room which caters amply for 20 depending on the style of function. The Restaurant offers 36 covers in its current layout, but obviously more for a function and is very welcoming in decor.
Upper floors house the Letting Accommodation, all of which have been recently refurbished and comprise of:
2 x Single rooms, 7 x Double/Twin rooms, 2 x Family rooms and 1 x Suite with separate sitting room and sumptuous bath.
The rooms are all very well equipped with Wi Fi, Flat Screen TV and a hospitality tray.
Owned and run for nearly 30 years by our clients the vendors, The Castle Hotel is a popular feature of the town and surrounding area. Great year round trade and an ever increasing footfall combined with well balanced sales of Accommodation (50%), Food (30%) and Wet (20%) see the Annual Turnover and Profits rise year on year.
Last year - £302,040
2017 - £285,739
2016 - £271,480
2015 - £224,385
All rooms have been totally refurbished over the past two years, the experienced staff team and the quality of hospitality on offer has combined to increase the user ratings: 4/5 * TripAdvisor, 8.7/10* Booking.com and 4.4/5 * Expedia.
A number of organisations and groups regularly use the Hotel for their meetings, and get together's. Functions such as Weddings are regularly catered for.
This opportunity is ideal for an owner operator who can continue to enjoy the trade as it is, whilst turning their eye to business development in growth areas.
This is simply a delightful business that runs like a Swiss Watch, it has room and scope for further development but would equally remain buoyant in current form for quite some time.
These areas comprise of a large lounge on the ground floor close to reception, two double bedrooms, a smaller "Box" room and bathroom. There is also a stand alone, second floor bedroom with en suite shower facility.
Within the demise of this Hotel is a large Car park laid to gravel mainly for circa 15 vehicles and about five chickens........
There is a decent outbuilding which is currently used as a store, but could easily convert (STP) to guest accommodation or a two bedroomed cottage.
Currently run by our clients who are husband and wife, complimented by a dedicated team of full and part time staff. TUPE will apply.
£485,000 for the Freehold purchase, including the Transfer of Going Concern of the business.
Stock at Valuation additionally.
All major services are to the property.
EPC exempt due to the buildings listed status.
An early discussion about finance can often save time and disappointment, talk to KSA Commercial about securing independent financial advice from our list of approved brokers in our “One Stop Shop”
Strictly by appointment with the vendors sole selling agents. Tel: 01780 435072 Email email@example.com You are recommended to contact us in the first instance prior to visiting the property even for an informal viewing.