Thu, 02 Sep 2021 | COMMERCIAL PROPERTY
The Rose and Crown Hotel in Wisbech, Cambridgeshire has been put up for sale with a guide price of £1.2 million. The auction for the hotel, which has been owned by Rajesh Sadana for the last six years, will be handled by commercial real estate and property agent Colliers.
The Rose and Crown is a 29-bedroom hotel, with a ballroom and meeting rooms, along with bar and restaurant. The hotel, which was previously a coaching inn, dates back to 1461 and is a Grade II listed building. During COVID-19 lockdown, the hotel was hired by Fenland Council to house local homeless people.
Paul Barrasford, Director of Colliers’ Hotels Agency division, said: "The hotel also features a 180-capacity ballroom licensed for civil weddings as well as meeting rooms, restaurants, a bar, courtyard and car park.”
“The hotel has been extended over the years, but still retains its historic charm. Throughout the pandemic the accommodation side of the business has maintained a healthy trade, with a strong and profitable performance from bedroom revenues.”
“The business is on an upward trajectory as its revenue streams from restaurants, bars and events rooms have come back online.”
Regarding the sale, Colliers commented that it was “ready for a new chapter”, with Paul Barrasford adding that the current owners were looking to “focus on business interests closer to their south east base”.
In its most recent financial results, for the year ending June 30 2020, the hotel had fixed assets of £655,515 and current assets of £217,299. With creditors owed close to £700,500, the business had net assets of £172,357.
One of the best ways to find properties below market price is to look at recent administrations.
This unique opportunity in Mid Glamorgan offers 33 letting bedrooms, leisure facilities, and a self-contained holiday let, all set within 3.38 acres of beautifully landscaped gardens with planning consent for extension.
FREEHOLD
Cardiff City Centre Hotel presents a prime investment opportunity with its central location and IHG branding, offering 122 air-conditioned bedrooms. A standout feature is the 6th-floor restaurant, bar, and roof terrace, which provide stunning city vi...
LEASEHOLD
This is an exciting opportunity to acquire a prominent and stylish hospitality business in Leominster, offering around 80 covers and 10 high-quality letting bedrooms.
FREEHOLD
16
|
Jun
|
Collapsed West Midlands pottery firm rescued by founder's grandson | BUSINESS SALE
W. Moorcroft Limited, a historic West Midlands pottery busin...
16
|
Jun
|
Longstanding wine merchants announce merger | MERGER
Two longstanding, family-run wine merchants have merged in a...
16
|
Jun
|
Buyer sought as window and door manufacturer enters administration | ADMINISTRATION
A Blackburn-headquartered manufacturer of aluminium door and...
03
|
Mar
|
Hotel up for sale following administration | BUSINESS SALE
A hotel in Wisbech town centre has been put onto the market ...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
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.