Acting on behalf of joint fixed charge receivers the property is available freehold by informal tender.
The Kerenza Hotel is presented in good decorative order and provides for 23 en suite letting bedrooms, resident lounge and bar, restaurant, car parking and customer external terrace. Situated on a 0.38 acre corner plot looking over the nearby golf course and to the sea this represents an excellent opportunity to reopen and trade in a popular coastal location.
Location
Bude is a North Cornwall seaside town close to the Devon border and adjoins the A39 trunk road and is the main settlement between Bideford, (27 miles) North and Wadebridge (30 miles) south. With a population that is now over 10,000, there has been considerable development in recent years.
The hotel is situated on Flexbury Avenue, approximately 710m east of popular Crooklets Beach and around 370m north of Bude town centre, in the village of Flexbury. Bude and North Cornwall Golf Club is opposite. Once a small hamlet, Flexbury has been developed over the years and is now a popular coastal village due to its proximity to both Bude town centre and Crooklets Beach. The last estimated population was around 2,290.
Accommodation
All letting bedrooms range in size, but are either double or twin rooms, with one suite at first floor. All rooms are en-suite with either shower rooms or bath with shower over.
Ground Floor with entrance porch leading to open plan reception leading to hallway for ground floor bedrooms, and stairs to upper floors. Cocktail bar with space for 16 covers and open plan to triple aspect informal lounge and dining room with glazed atrium and providing space for c50 covers. Separate dining room with space for additional 40 covers with access to external customer decking. Commercial kitchen with kitchen prep and wash area, separate drinks store and beer cellar and office. 8 guest letting bedrooms.
First Floor with 13 guest letting bedrooms.
Second Floor 2 guest letting bedrooms (one with private balcony)
Owner maisonette (not inspected) is independently accessed at the side/rear of the building and understood comprise two bedrooms and living accommodation.
Externally: Decking terrace with space for c30 covers. Customer car park for 23 vehicles.
The business has ceased trading and no accounts are available.
Terms
VAT: All figures quoted are exclusive of VAT if applicable.
Services: We understand that mains electricity, gas, water and drainage are connected to the property however these services have not been tested by the agents. Interested parties should make their own enquiries.
EPC / MEES: C(72)
Planning: C1 Hotel use and C3 for the owner maisonette. Local planning authority Cornwall County Council. Current planning for 6 bedroom extension at second floor and customer lift. Granted April 2023 under reference PA22/10287. The property also offers scope for residential redevelopment subject to planning and all necessary consents.
Business rates: From the Valuation Office Agency website (www.voa.gov.uk) we understand that the current Rateable Value is £41,250 which qualifies for small business multiplier relief of 49.9p in the pound. In addition there is current support in the sector of 40% reduction on rates payable. Council tax band A.
Contact our team of business rates experts if you have a query about the rateable value of this property.
Terms: Offers in excess of £950,000 are invited for the freehold interest. All offers must include details of the buyer, their solicitor and proof of funding.
The trade inventory is excluded from the sale by the Fixed Charge Receivers, but is available by way of separate negotiations with the owner.
Legal fees: Each party to be responsible for their own legal fees in relation to this transaction.
Money laundering: Under the Money Laundering Regulations 2017, Vickery Holman will require any purchaser to provide proof of identity and address prior to exchange.
Specification
- Freehold detached hotel walking distance to Bude and beaches
- 23 En suite letting bedrooms
- Bar and resident lounge (50)
- Restaurant (40)
- 2 Bedroom maisonette
- Customer car park and external deck (30)
- Residential redevelopment opportunity (subject to planning)