Proposed newly refurbished hotel situated in the New Forest with spectacular views and strong trading potential
Description
The property sits on a 0.274 acre (0.11 ha) site with 70% site coverage and was built in the 1920’s/30’s forming a terrace of residential cottages. practical completion has been carry out on the proposed development (App -22/00398) comprising the development of 4 x 3 bed cottages, 1 x 2 bed cottage and 1 x 8 bedroom B&B.
The hotel is set up to operate with a very lean remote management system in place, with electronic keycode entry system.
The façade of the Cloud Hotel is to be retained but redeveloped to provide an 8 bedroom boutique bed and breakfast. 2 of the rooms are single ensuites, 4 are double ensuites, with 2 rooms sharing a bathroom but with the ability to combine and create a family room. The B&B element comprises an Old Jacobean Buff style brick slip frontage to provide a traditional and classic appearance to match the tone of the surrounding area. The Property also comprises tall sash windows and mouldings. To the rear, a new stepped extension has been added providing a more efficient use of space across the ground and first floor levels. The extensions support flat roofs and comprise cream rendered elevations. The ground floor extension opens up via French doors on to a small garden terrace, providing a space for residents in the warmer months.
The Cloud Hotel also has the benefit of a parking area on the opposite side of Meerut Road, licensed through Forestry England. This is restricted to Hotel use only and provides 8 car spaces.
The B&B element is furnished to a high standard commensurate with its target market, location and desire to create a boutique offering. The bedrooms are decorated in an individual style of a high quality but some rooms has been left as a white box ready for an operators decoration.
The Business / Opportunity
The New Forest hotel market is clearly a seasonal business but despite this, occupancy rates are currently strong at around the 85% mark. We believe the opportunity exists for an investor / owner operator to acquire the hotel and begin operating the turnkey hotel under lean management.
Planning
The building is not listed but is characterful, and it is noted as a non- designated heritage asset within the New Forest Conservation Area.
Planning has been granted as follows: 22/00398. A copy of the planning permission is available upon request.
Tenure
Freehold with vacant possession.
Inventory & Stock
Fixtures, fittings and equipment will be included in the sale.
Rating
Awaiting assessment.
Services
The property is served by mains water, gas and electricity. Wi-Fi will be provided throughout.
Statutory Costs
S106 and CIL costs have been met by the vendor.
EPC
The EPC awaiting assessment.
Price
Offers in the order of £1.675m for the freehold interest with vacant possession and the benefit of a turnkey hotel, delivered to a high standard and specification.
EPC exempt - Currently being constructed or undergoing major refurbishment