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Want to buy a hotel? Development opportunity in Muswell Hill

Hot Property - Muswell Hill Development Opportunity

I have been given a heads up on a development opportunity – subject to planning. This is a chance to purchase a town house hotel with three adjoined converted Victorian terraced houses totalling 198,561 sq ft internal aresa and 13.044 square ft NIA. It’s arranged over four floors and has a large lobby area, fifty en-suite bedrooms plus conferencing facilities for up to 135 people, a banqueting restaurant with licenced bar able to cater for up to 180 people, and a substantial rear garden and parking in the front forecourt.

It’s currently producing £109,000 approximately per calendar month in revenue after VAT with a gross operating profit of around £46,000 per month. The current management is under the Lester Group (costing approximately £5000 pcm) which can either be continued or notice can be given.

There was planning consent for 18 flats and to profide an additional floor (issued in 2003 which has now lapsed

The hotel is available as a going concern with the existing management contract or notice could b given and building sold with vacant possession.

Muswell Hill is a fashionable district of North London that offers all the benefits of a city but with the tranquil and friendly atmosphere of a local town with many restaurants, cafe’s, bars and local shops.

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