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CHARMING AND TRADITIONAL 18th CENTURY FREEHOLD GEORGIAN HOTEL WITH 16 DELIGHTFUL EN-SUITE LETTING ROOMS LOCATED IN THE FAMOUS RURAL STAFFORDSHIRE TOWN OF UTTOXETER

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  • Located in the Staffordshire town of Uttoxeter between Stafford and Derby close to the famous all-year-round racecourse and within easy reach of Alton Towers, JCB and the Staffordshire Moorlands.
  • Bar Area (circa 35+) with leather Chesterfield settees, Ornate fireplace and 2 cask ales on offer.
  • Crystal Suite (circa 35 seated) is a multi-use room with open fireplaces to each end, hanging chandeliers and lovely views of St Mary’s church.
  • Restaurant/Breakfast Room (22 covers) with church views and the original bank vault on display.
  • Bank Room/Meeting/Function Room (circa 25 seated) used predominantly for private meetings with 2 x HDTV’s, Big screen and central chandelier.
  • 16 delightful individually styled and furnished En-suite letting rooms (to include 4 Four Posters).
  • Al fresco patio area (circa 30+) with heated pergola, assorted garden furniture and water feature : Patron’s car park (circa 14+) and towns central pay and display car park adjoining.
  • Fully equipped commercial catering kitchen (Tendered out / Some equipment separately owned).
  • 1 bed owner’s accommodation.
  • Advised turnover circa £250,484 (Inc. VAT) for year ending 30th April 2020 (only 46 weeks trading and wet sales plus rooms only) : Weekly Wet/Room sales post pandemic (although the business traded throughout) are advised as showing considerable growth with circa 80% Gross margins achieved.
  • Sales split of circa: 63% Accommodation ; 37% Wet sales ; Additional Food sales (Tendered).
  • Advised approved Planning Permission for an additional 9 bedrooms with footings in place.
  • Reference No: LB/15888/038/JI.
A FANTASTIC OPPORTUNITY TO PURCHASE THIS DELIGHTFUL PROMINENT AND SUBSTANTIAL HOTEL AVAILABLE FOR THE FIRST TIME IN 18 YEARS


ASKING PRICE £925,000 FREEHOLD (plus VAT if applicable) TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.

Location

This substantial property is located in the friendly Staffordshire market town of Uttoxeter that sits directly between Stafford (14 miles) and Derby (20 miles). The bustling town has major shops, stores and facilities and is probably best known for its all-year-round racecourse which is recognised as one of the UK’s leading National Hunt tracks. Surrounded by lush countryside close to the River Dove the town is positioned near the Derbyshire/Staffordshire borders. Nearby points of interest include the famous brewing town of Burton on Trent, The Pottery Towns, Tutbury Castle and of course the simply stunning Staffordshire Moorlands. Alton Towers Resort, St Georges Park, JCB and the National Arboretum are also close by. The local road networks are very good with the A50, A38, A515 and M6 all within easy reach.

THE PROPERTY

This desirable 3 storey Georgian property dates back to 1777 and has a Grade II listed frontage. When it was first built it became the very first bank in the town and to this day the original bank vault has been retained as a feature in the grand restaurant. There is also on entering a majestic unsupported oak staircase that we are advised is one of the finest of its kind. Bursting with character and charm throughout the property is of brick construction and sits beneath a pitched, slate apex roof. A beautiful mosaic tiled entrance hall to the front and an entrance hall to the side with main reception area provide access to all the high-ceilinged trading areas. These consist of:

Bar area (circa 35+ plus standing) leads off from the main reception and is a good-sized room with a warm and welcoming atmosphere. An assortment of loose tables, leather Chesterfield settees, armchairs and tub chairs are complimented by minimal upholstered perimeter bench seating all sitting on a fully carpeted floor. Horse racing paintings and photos adorn the walls and to one side is an attractive ornate fireplace with electric fire. There is also a wooden corner bar server with 2 cask ale hand pulls and a laminate trim perimeter.

Crystal Suite (circa 35+ seated/+ standing) leads off from the main bar area and is a multi-use room able to facilitate most events. Loose tables and chairs and a poseur table with high stools all sit on a laminate wooden floor and are able to be laid out as required and to suit the occasion. Hanging chandeliers to the ceiling look down on open fireplaces to each end of the room that in turn looks out towards the attractive St Mary’s church across the road.

Restaurant/Breakfast Room (22 covers) is a grand and delightful self-contained room with loose tables and chairs sat on a fully carpeted floor beneath hanging chandeliers adding to the ambience of the room. This is complimented by the historic original bank vault that sits quietly in the corner of the room.

Bank Room/Meeting/Function Room (circa 25 seated) is located to the rear of the property having loose tables and chairs again able to be laid out as desired all sat on a fully carpeted floor. There is a hanging chandelier, 2 x HDTV’s and a big screen to the end wall. This room and its facilities are extremely popular and it is predominantly used to host meetings for the many clubs and societies that meet here on a regular basis.

The commercial catering kitchen is currently tendered out to the owners’ manager who also has ownership of the coffee machine and some of the stainless-steel appliances and surfaces. There is a wash up and dry goods areas close by. Extensive below Ground floor Beer Cellar with cask tilts, python system and remote. Ladies and Gents WC’s / Linen Room / CCTV throughout.

OWNERS ACCOMMODATION

The owner’s accommodation is currently situated in one of the letting rooms. The hotel could revert back to 17 letting rooms should new owners decide to live off site or they may continue to use the 17th room as managers/owners flat.

LETTING ACCOMMODATION

Located on the 1st and 2nd floors and accessed by several staircases throughout the building are 16 individually styled and furnished En-suite letting rooms. These consist of: 4 Four Poster, 6 Doubles, 2 Twin, 2 Family and 2 Single rooms. All have colour TV with Freeview and Tea/Coffee making facilities.

We are advised that there is approved Planning Permission for an additional 9 bedrooms (Reference No; LB/15888/038/JI) with the footings already in place.

EXTERNAL

To the rear/side of the property is a lovely little al fresco patio area (circa 30+) with wooden picnic benches, rattan and iron garden furniture and heated and lit pergola over. There is also an attractive water feature and colour planters dotted around the perimeter. The patron’s private car park is to the rear with space for circa 14+ cars (including electric charge point) however this sits adjacent to the towns spacious central pay and display car park.

TRADING HOURS

We are advised that the business trades with the benefit of the Premises Licence (not seen) which permits the sale of alcohol during the hours of:

Mon – Sun 24 Hours

Current opening hours are:

Mon – Sun 12 noon to 10pm (Residents 24 Hours)

GENERAL REMARKS

The property and business are being offered for sale freehold (although we have not had sight of the title deeds). We are advised that all available mains services are connected (no services tested). Business rates payable are advised as being circa £8,982 per annum.

THE BUSINESS

The current owner purchased the freehold property in 2004 and has since created a desirable profitable business offering a selection of cask ales and fine drinks, home cooked food & comfortable accommodation to a loyal, repeat and desirable clientele. The business is currently operated by the owners’ manager assisted by 1 full time and circa 5 part time/casual members of staff. The business sits at the heart of the local community and plays host to not only the residents frequenting the area for the many attractions close by or even a popular race day but also the many local clubs and societies that meet here. Christenings, funerals, functions, meetings and small parties are also extremely popular. Frequented by businesspeople, walkers, ramblers and racegoers to name but a few make this hotel a delightful, relaxing and enviable place to stay all year round. We are advised that accounts declare a turnover of circa £250,484 (incl. vat) to 30th April 2020. This was for only 46 weeks trading and was achieved on a trade split of 63% Accommodation ; 37% Wet sales with Gross margins achieved of circa 80%. Additional food sales are advised as being in the region of circa £75,000 per annum. We are advised that although the business traded through the pandemic for essential workers etc turnover post pandemic shows considerable growth up to £7,700 (inc VAT) per week. We calculate reconstituted net profits after adding back depreciation and one-off costs to be in excess of £86,000 (Wet sales and rooms only).

New owners could continue to operate the business using the same current successful formula or they may wish to take the business to the next level. In our opinion this could be achieved by the introduction of applying for a wedding licence and the introduction of wedding packages etc. Live entertainment and open mic nights have also proved popular in the past.

Further info: https://www.bankhousehotel.uk/

Accounting information will be made available to interested parties after viewing.

This business was viewed by Richard Fletcher who would be delighted to discuss further details and can be contacted on 07865 348375.

Viewing appointments can be made by emailing Guy Simmonds at sales@guysimmonds.co.uk or by contacting Richard Fletcher on 07865 348375.

All personal viewings undertaken must adhere to the evolving Covid-19 Government Guidelines.

Details prepared April 2022

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