Fri, 06 Aug 2021 | COMMERCIAL PROPERTY
The Cae Mor Hotel on Llandudno’s seafront has been brought to market by Christie & Co for a guide price of £1.25 million. The property, which has more than 20 bedrooms, is being sold on a 99-year lease.
The hotel is a three-star, Best Western property, featuring 23 rooms, 16 of which have sea views. There is also parking space for more than 30 vehicles, an award-winning restaurant, gin bar, garden and two function rooms.
The Victorian property has been significantly refurbished in recent years and is on the market as the current owners are moving on to new projects. The auction comes as the UK’s domestic holiday market experiences a surge in business over the summer, due to Covid-19 related restrictions on international travel.
Tom O’Malley, Associate Director of Christie & Co’s hospitality division, said: “I’m very excited to bring this fantastic hotel to the market. It is the only hotel I am aware of which is on the promenade and features extensive private parking for guests, so we expect it to generate a high level of interest. If you’d like to book a viewing please don’t hesitate to get in touch.”
Current owners Marc and Sheryl Viercant said: “Having spent many years in Llandudno, developing a number of properties, the pandemic has given us the opportunity to look at further projects going forward, and this has prompted us to place The Cae Mor Hotel on the market.
“Over the past 18 months, we have undergone significant works on the hotel, and feel that the time is right to move onto our next project. We are confident that we are passing a great business and property onto the next custodian of The Cae Mor Hotel.”
In the year ending April 5 2020, the hotel generated turnover of £545,788 and, due to a surge in staycation activity, is forecasting that this will rise to around £650,000 for the year ending April 2022.
One of the best ways to find properties below market price is to look at recent administrations.
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