Overview
- Updated On:
- June 10, 2024
- 6 Bedrooms
- 6 Bathrooms
Description
City Centre Hotel, Oxford
The Museum Hotel
Offers Over £2.25m
• Opportunity
‘The Museum Hotel’ is a keyless hotel that is not staffed, increasing the profitability substantially
‘Ladbrokes’ are a sitting tenant for the ground floor retail space
FULL planning permission has been granted to convert the hotel accommodation area into three luxury flats
The business and property are remotely managed
• Location
The Museum Hotel, 107 St Aldates, is in the heart of the city centre
Vehicle access 24 hours a day, vital as the property is only 50m from the pedestrianised city centre area, sitting on the A240 it is the main bus route through Oxford
World famous for it’s universities, Oxford is one of the most affluent city in the U.K.
Steeped in history, Oxford is one of the most visited cities outside of London, boasting over 7 million visitors each year, bringing £780m to the local economy
Property values in Oxford are the third highest in the U.K. with the average asking price of houses on the market in 2023 being over £650,000
• Development
FULL planning permission has been granted to convert the first and second floor of the hotel into three flats
Please see the attached documents
• Internal Details
The hotel is sympathetically restored, taking advantage of the numerous beautiful stoneworks, fireplaces and beams where possible
Presented in the highest of standards, the property requires very little work to convert as per the planning permissions granted
Existing Hotel – 227 sq/m
Ground Floor – 145 sq/m
Flat 1 – 85 sq/m
Flat 2 – 86 sq/m
Flat 3 – 52 sq/m
Please see the floorplans for further information
• Fixtures & Fittings
All fixtures and fittings not personal to the vendors are included in the sale
• Financials
The hotel generates a net profit of 35% sales are currently £300,000
Labrokes have a 15 year lease, the rent is £51,000 per annum since 2013, there is a rent review due as of Dec 2023, with five years remaining on the lease
Full accounts are available
Property in the often achieves up to £7,000 sq/m
• Tenure
Nationwide Business Sales are delighted to offer this rare freehold opportunity to the market at ‘Offers Over £2.25m’
