The Monterey Beach Hotel in North Promenade, St Anne’s is on the market for £2.2m. The 33 bedroom, all en-suite, hotel has been run by the same family for over 30 years, and is being sold due to their impending retirement.
A look at the ‘books’ show that in the financial year ending March 2023 the hotel’s accounts show a turnover of £462,898, Gross profit of £380,206 (82%), and a net profit of £99,689.
Agents Christie and Co describe the prominent St. Anne’s Hotel as, ‘A substantial Promenade 33 bed hotel constructed mainly of brick under a pitched slate roof with extensive conservatory additions to the front. Occupying a fantastic sea front trading position with excellent access to local attractions the hotel offers approximately 20 vehicle parking spaces.
The building also includes nine unoccupied fire damaged apartments which used to be operated by the current owners as rented accommodation. These, along with the hotel itself, provide huge opportunities for development (STPP).
The property has been extended and added to over the years and comprises:
- Reception area with fitted reception desk and small administration office behind
- Sun lounge with seating for approximately 15 with glazed conservatory extension to the front
- Licensed lounge bar with soft seating for approximately 40
- Function room/ballroom with fitted bar, DJ booth, glazed conservatory extension with capacity of approximately 120
- The breakfast/dining room which is split into two sections with a total capacity of approximately 60 (lower ground)’
The agents also say that alternatively there is the opportunity to develop the whole building to create living accommodation which would prove very popular given this location on the sea front (Subject To Planning Permission).
For more details go to: https://www.rightmove.co.uk/properties/146558015#/?channel=COM_BUY
