A HOTEL with 140 bedrooms, 270 car parking spaces and an approximate yearly turnover of £5.3 million is on the market.
The Hilton Avisford Park hotel in Yapton Lane in Walberton, near Arundel, comprises of 140 en-suite bedrooms and 15 meeting and function rooms, as well as a bar and a restaurant.
The property is on the market for £10.5 million.
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The Georgian-style manor house in West Sussex is split into two buildings.
The main building has 113 bedrooms while the "Garden Block" has a separate entrance and a further 27 bedrooms.
It offers numerous leisure activities as part of its very own health club including indoor and outdoor swimming pools, a sauna and a steam room.
The hotel also features a fully equipped gym, aerobic studio, squash court and tennis court, and offers access to the Avisford Park Golf Club.
The hotel, which has grounds spanning approximately 60 acres, ended 2019 with an approximate turnover of £5.3 million and passing rent of approximately £1.28 million.
Henry Jackson, of Knight Frank’s hotels team, said the property provides an incoming purchaser with an established business with “considerable business drivers in the area, covering both corporate and leisure markets”.
“The hotel will have potential branding opportunities, and this coupled with the long-term development angle of the site, makes it an exciting investment opportunity,” he said.
“We have seen a significant growth in demand for well-located regional hotel assets which benefit from UK domestic ‘staycation’ business.
“There remains limited stock in the market and market sentiment remains positive. Whilst there continues to be concerns about travelling abroad, we expect regional hotels to benefit from a positive trading environment with food and beverage departments operating at increasing capacities as the restrictions are lifted."
The site in Walberton is a 10-minute drive to Barnham Station and Arundel Station, and a 55-minute drive to Gatwick Airport.
The hotel, which is being sold by Knight Frank on behalf of Albitar Business Corporation, is held Long Leasehold for 999 years commencing on March 1, 2001, with 980 years remaining.
It is subject to an operational lease to Hilton Group PLC for 20 years terminating on December 31, 2021, after which an incoming purchaser can obtain vacant possession.
More information on the property can be found through agent Knight Frank.
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