A 63-bed spa hotel in the West Yorkshire town of Ilkley is casting its net in the hope of finding an external party to take on a new restaurant concept.
The Craiglands has instructed specialist business property adviser, Christie & Co, to lead the search for a unique restaurant capable of serving two current function spaces within the hotel.
The 19th century hotel has been owned by father and son duo, Mukesh and Neel Chawla, since 1996, and is one of several properties in their portfolio spread across the North.
Set within six acres of grounds on the border of North and West Yorkshire, the hotel is situated in an area which has the highest density of millionaires in Yorkshire and attracts strong tourism due to the stunning surrounding countryside.
The owners are currently in the process of building a new spa and several townhouses on site. They plan to close the current internally run restaurant with a view to extend the bar-lounge area for guests, but are willing to financially support the investment of the new restaurant, which would serve as a dining option for both guests of the hotel and the public.
The spaces available are located on the ground and first floors in a new conservatory, with plentiful car parking within the grounds.
Sam Ashton, business agent at Christie & Co’s Leeds office, said: “The owners are offering this restaurant opportunity by way of a new lease. The term of lease is flexible and to be negotiated, and as previously mentioned, they are willing to support the investment. The owners are ideally seeking a branded operation willing to work in unison with them to create a high-quality dining experience for guests.”
Christie & Co is seeking a leasehold asking price of Nil Premium with an annual rent of £40k although offers are invited.