The Mowbray Hotel2 Lascelles Terrace, Eastbourne, BN21 4BJ

Description
The property comprises an end-of-terrace building arranged over four levels, with traditional brick rendered elevations under a pitched tiled roof. These levels include the lower ground, ground, first, second, and third floor levels. The hotel was refurbished in 2021 to a good standard and provides 13 en-suite bedrooms and 1 double bedroom of manager’s accommodation.

The restaurant (30 covers) and commercial kitchen are located on the lower ground floor, along with a staff toilet and a store room.

Upon entering the building at ground floor level there is a guest lounge/reception, a super king double bedroom, a king double bedroom, public toilet and lift access. First floor level provides a superior double bedroom and two king double bedrooms. The second floor comprises of two double bedrooms, a super king double and one single room, along with a store cupboard. A Junior Suite is located at third floor level and two additional super king double bedrooms.

The Business
The Mowbray operates as a mid-market ‘bed and breakfast’ which can cater for business users, couples visiting over the weekends and tourists attracted to the wider area.

TUPE
We understand no TUPE regulations will apply with the transfer of the business.

Planning
Our informal planning enquiries suggest that the permitted use of the property is as a hotel (Class C1). The property is not listed but does lie within a conservation area.

Tenure
Freehold.

Transaction Type
The sale will be sold via private treaty and treated as a TOGC.

Price
Offers are invited in the order of £795,000 for the freehold business, with all fixtures and fittings available and ready for continued trade.

VAT
Should the sale of the property or any right attached to it be deemed a chargeable supply for VAT purposes, such tax will be payable by the purchaser in addition to the sale price. It is envisaged the sale will be treated as a TOGC and therefore VAT will not apply.

EPC
The subject property has an EPC rating of C-59.

Rateable Value
The subject property is entered in the 2023 Central Rating List with a Rateable Value of £35,000. In England & Wales the Small Business Multiplier is £0.499 / Higher Multiplier is £0.512. Please check with the VOA for the most up to date information on all rating matters.

Viewings
External viewings are advised in the first instance. A more formal viewing can be arranged by appointment with Savills.

Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all purchasers/tenants. Prospective purchasers/tenants will need to provide proof of identity and residence.