12 Bedrooms Land for sale in High Pavement, Nottingham NG1 | £ 5,000,000
Overview
| Price: | £ 5,000,000 |
|---|---|
| Contract type: | For Sale |
| Type: | Land |
| County: | |
| Town: | |
| Postcode: | NG1 |
| Address: | High Pavement, Nottingham NG1 |
| Bathrooms: | 12 |
| Bedrooms: | 12 |
Property Description
For sale. Freehold building which is currently the Lace Market Hotel in Nottingham which is a four star Award winning boutique hotel. There is currently 42 Rooms, with an additional 12 being added.
The seller is looking for offers in the region of £5,000,000 for the freehold title. They are also in the process of adding a further 12 rooms which will increase the total yearly generated income which is in excess of 1.8 million!
We feel this could be a superb and exiting opportunity for someone who is looking to invest into the hospitality industry.
Lace Market Hotel the original Georgian Townhouse Style Hotel is situated right in the heart of the city of Nottingham's trendy Lace Market district. We are just next to the St Mary's Church, the Galleries of Justice, and the historic Shire Hall, only 5 minute walk from Nottingham train station and 2 minute walk to the main shopping centre, café's and bars. The Motorpoint Arena and national ice skating arena is also a 5 minute walk. The Lace Market area is part of the 'Creative Quarter' of the city which is Nottingham's hub for innovation, enterprise & creative business activity along with art, theatre and entertainment.
Plus the venue offers the following income streams:
•Meeting Room up to 22 Paxs
•Private Dining
•Saint Bar
•Cock and Hoop Pub (separate neg)
Possible other options
We however believe there may be potential for the prospective buyer if they should wish not to continue with the hotel. Although in our opinion with the revenue the hotel generate to purchase ratio it is a very good investment leaving it as it is!
A prospective purchaser may instead decide to convert the building into residential dwellings as the selling price of flats in the area is substantially high meaning a good return in the short term! This would need to explored further the prospective purchaser if interested in this option would have to undertake their own due diligence and apply for planning themselves to see if this is an option.
As you can see there are various options available to a purchaser. Either keep the existing building as an award winning hotel or make further enquiries.
If you require any further information please do not hesitate to contact us further on .
If you would like to check the hotel out on
Property Location
Property Marketed by Benson & Partners
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