New owners are being sought for the Victoria Square Hotel in Clifton.
On the market with Colliers International with a price tag of £1,750,000, the stone built Grade II-listed luxury hotel, which dates back to the 1860s, overlooks a leafy square which was once home to cricketing legend Dr W G Grace.
The hotel is easy to run as it serves the bed and breakfast market and offers considerable potential for further development, according to Colliers International hotels director Simon Wells.
He said: “The Victoria Square Hotel consists of two buildings in a superb leafy location in the heart of Clifton and it is still only a mile or so into the city centre. It is currently operated largely as a bed and breakfast hotel, so it is ideal to be run under management, as at the moment, or by owners who can generate an even better bottom line. One look at the books will tell you this property offers serious investment potential.”
The present owners, who own a couple of hotels, bought the Victoria Square in 2008, recognising that it is perfectly situated for a year-round business rather than a lifestyle B&B. In the last three years they have upgraded the electrics in one building, created the bar, refurbished the dining room and have worked their way through the letting bedrooms.
Simon Wells said: “Clifton’s deserved reputation as the premier residential and leisure area of Bristol means there are scarce opportunities to own hotels of this size in the area. Location is the key to the hotel’s success and future and there can surely be few better than this.
“Clifton has its own vibrant restaurant/bar life so there is no need to run a restaurant if you don’t want to”.
There are 41 letting bedrooms in two neighbouring detached properties. The hotel can accommodate around 80 and currently trades under the Best Western banner, so is equipped to a good standard.
There is some car parking too. Over the road is the charming Victoria Square Gardens and a short walk across to the far corner brings you out amongst the busy local shops and boutiques.
The Victoria Square Hotel is on the market at £1,750,000 for the virtual freehold and leasehold properties complete with goodwill and trade and represents a genuine opportunity to buy an easily run hotel that can give a great return on capital.
“The present owners believe that they should focus on their larger hotel instead, which gives buyers the opportunity to acquire a strong business that could certainly do even better as occupancy has been below what one might expect and it still turns over nearly £700,000 net of VAT.”
