20 Castlegate, York, YO1 9RP
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Substantial North Yorkshire Hotel & Bar

LEASEHOLD BUSINESS FOR SALE £295,000 (ref C2025)

DESCRIPTION

The hotel is a substantial four storey period property situated on a prominent position on one of the main arterial roads into the North Yorkshire market town of Malton.

The property and business provides two separate bar areas, with the hotel lounge bar and dining room located on the upper ground floor and the local’s bar being located on the lower ground floor.

In addition, there are 13 well-appointed bedrooms (1 single, 10 doubles and 2 family rooms/suites), in addition to potential manager’s sleeping accommodation.

Externally, the property provides ample parking for its guests, in addition to two separate terraces/beer gardens, associated with the different bar areas.

The property has been traded as a hotel for an extended period of time and has been trading in its current format by the current owners since 2017. The hotel is popular with tourists visiting Malton and the wider area and the local’s bar continues to be a popular destination for locals.

SERVICES

We understand that all mains services are connected to the property.

LOCAL AUTHORITY

Ryedale District Council.

RATEABLE VALUE

Rateable Value: £19,400.00

TRADE & BUSINESS

The business is currently operated by two full time proprietors, generally employing eight full time members of staff and three part time members of staff. The hotel is open all year round, with traditional bed and breakfast being offered. Lunch (weekends only) and evening meals are also offered in both bars, sharing the same menu across both.

The bar areas generally trade 4pm to 11pm Monday to Friday and 12 noon to 11pm Saturday and Sunday.

Detailed trading and financial information will be supplied to seriously interested parties, following inspection.

FIXTURES AND FITTINGS

All fixtures and fittings are owned outright. Some items of a personal nature will be excluded from the sale.

TENURE

The property is subject to a 10-year lease from 26 June 2017 and ending 05 April 2027, at an initial rent of £36,500 per annum on full repairing and insuring terms. The lease is to be subject to a rent review on 06 April 2022.

VALUE ADDED TAX

VAT may be chargeable and, if appropriate, this will be at the prevailing rate.

ENERGY PERFORMANCE CERTIFICATE

The property has an energy performance asset rating of C65. A full copy of the EPC is available upon request.

VIEWING

Strictly by appointment with the sole selling agents.

LEASEHOLD BUSINESS FOR SALE £295,000 (ref C2025)

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RENT ON APPLICATION

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