Fri, 08 Jul 2016 | COMMERCIAL PROPERTY
Eastbourne Pier owner Sheikh-Abid Gulzar has placed one of his Eastbourne hotels on the market for £5.5 million.
The Mansion Lions, which sits on Eastbourne's seafront, a four-minute walk from Eastbourne Pier, is now for sale with Fleurets via their Brighton office.
Mr Gulzar purchased the pier last October to add to his portfolio of sites that is also comprised of the Albany Lions, the Boship Lions Farm Hotel and the Lions Cub Nursery, all located in Eastbourne.
He told the Eastbourne Herald: “I am very happy with the way my business is progressing. Eastbourne Pier is becoming a massive success, it really is very busy as the summer develops.
“We have put major investment into the pier — both in terms of time and money — but at the same time we have to focus on the other parts of our business as well.
“That investment will continue — make no mistake about that — but I am a businessman, I have been for over 50 years, and that means you always have to look at new opportunities.”
The 108-bedroom hotel featured in an episode of The Hotel Inspector on Channel 5, which was, the owner said, “great publicity” for this and his other hotels.
The hotel reported revenues of £1.7 million for the year ending March 2015, and earnings before interest, taxes, depreciation and amortisation were £654,208.
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