Tue, 01 May 2012 | COMMERCIAL PROPERTY
A hotel has been put on the market in Hartlepool, but its owners are insisting that business is still good and the sale is simply to “test the market”.
The Best Western Grand Hotel has a restaurant, bar, conference and banqueting facility and a ballroom, which the selling agents describe as 'the most impressive room in the hotel'.
An asking price of £2.5 million has been put on the property, but Keith Donkin, director of the owners of the hotel Tavistock Leisure, stressed that it is still “business as normal”. Speaking to the Hartlepool Mail, he added that the property was “performing well”, noting that the 50-room property has an average occupancy of 72 per cent during the week, rising close to 100 per cent on weekends.
Mr Donkin elaborated: “We bought the Grand Hotel and invested £1 million in it, and got it into a strong position which it is now. The reason we have put it up for sale is to continue with the business model which is buying failing sites and refurbishing them, selling them on and moving on to the next one.”
The building itself was constructed in 1899 and has previously been owned by North Eastern Railway, West Hartlepool Hotels and Consort, the UK's largest group of independent hotels. Tavistock Leisure took over in 2007.
On Hold
This profitable UK building materials supplier stands out with its unique model that generates organic online project enquiries and connects skilled trade professionals with high-value residential and commercial projects.
An exceptional chance to acquire a 29-room boutique hotel and licensed wedding venue set within 3 acres of picturesque parkland in Kent.
FREEHOLD
This is a unique opportunity to acquire a rapidly expanding Kent-based electrical contractor with prestigious UK-wide contracts, including a significant project for a nationwide hotel chain.
Looking for more businesses? Try our off-market tool.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.