London Properties are pleased to offer to the market this well established in 1978, this is a Hertfordshire Restaurant & Hotel with a difference

LOCATION:

The Premises are is located in the thriving town of Hitchin, Hertfordshire. Hitchin is an historic market town with a population of circa 33,350 and is accessible to A1 via A505 and A602 and also Luton airport which is only a few miles away.

DESCRIPTION:

There is an arch from the main street which leads to the parking area to the rear of the Hotel/restaurant. The main restaurant is entered from the front and is in 3 main sections. The first section is where breakfast is served for the hotel guests and is positioned to the front of the building, this area is the first area of three for evening dining. Past this area is the reception which also has access to the toilets. After the initial dining area is a second area with beams to the ceiling and has access to the kitchen and rear dining area/private hire area. The stainless-steel kitchen has: Freezers, Fridges, Sinks, Stainless steel preparation tables, Stainless steel shelving, Hobart oven, Meat slicer, 10 burner stove, Extractor fan, Grill, Wega coffee machine, Microwave, Hobart dishwasher. The rear dining area/private hire area has the bar with drinks fridges, optics, glass washer, shelving. There is a stage to the rear and a door that leads to the rear lobby to the car park.

BUSINESS:

The main hotel is is set above the restaurant and there is further accommodation the other side of the archway. All rooms have en-suite facilities, some rooms have four poster beds, all rooms in the main hotel area have oak furniture and wardrobes. The newer wing has 8 bedrooms all with en-suite facilities. There is CCTV to the ground floor area and public spaces. Car park - there are 7 spaces included in the sale with the possibility to lease more space from the vendor

USES:

Class A

PREMIUM:

£135,000 Guide price for the benefit of the lease, fixtures, fittings and goodwill

RENTAL:

We are advised the business is being sold as a Leasehold business opportunity, a new lease is to be written and the terms of that lease are to be negotiated. With rent payable at £130,000 per annum.

BUSINESS RATES:

To be confirmed

UPPER PARTS:

Accommodation having 28 en-suite rooms, all finished to a very high standard. These offer Italian elegance combined with modern comforts. Ideal for a business stay in Hitchin, or for a romantic Hitchin break, La Bella Vita’s Hotel provides guests with luxury at a very affordable price

COVERS:

120 covers

STAFF:

The business is run and managed by our client, with the help of several part time/full time members of staff including cleaners, waiting staff, reception staff and kitchen staff

TURNOVER:

Generated an advised turnover of circa £443,157 as of the 2017 accounts, with a gross profit of £245,562, a net profit of £42,317 and an adjusted net profit of £73,292.

ASSETS:

The business is worth in the region of £200,000.

LOCAL AUTHORITY:

North Herts Council

REFERENCE CHARGE:

London Properties charges a fee of £200 plus VAT for taking up references for proposed tenants. This fee is non-refundable after the references have been taken up, whether they are accepted or not by the Landlord

HOLDING DEPOSIT:

A holding deposit will be required to secure the property the deposit will buy a period of exclusivity and will be held in the London Properties client account

AGENT NOTE:

London Properties for themselves for Lessors, Vendors and their agents, give notice that:- 

 1. These particulars provide a general outline only. It is advised that prospective purchasers or tenants make their own enquiries. 

 2. These details do not constitute any part of an offer or contract. 

 3. All statements or details contained within these particulars are without any responsibility on any part, to London Properties. 

 4. All rent prices, fees and charges are quoted exclusive of VAT

VIEWINGS:

Through London Properties by appointment only