The 56-bed Hotel Sunnyside in Newquay has gone up for sale for £1.25m as the seasonal business expects to attract ‘strong interest’ from potential new owners.
The property, which comes with a bar and restaurant No.5 Brewhouse, has been owned by the same people since 2007, who are now selling the business reluctantly due to ill health.
Charles Darrow, responsible for the sale, said the property is expected to ‘attract strong interest by September’, with the seasonal business, which currently only operates from March to October, giving scope for expansion through year-round trading.
Hotel Sunnyside recorded an adjusted profit of £187,000 in accounts ending September 2016, with the property primarily targeting stag and hen parties coming to Newquay.
The focus shifts during the week when the hotel caters regularly for educational groups and excursions for schools.
Charles Darrow reveals that the split of trade is 80/20 in favour of accommodation, with the hotel generating the majority of this revenue through direct bookings on its website.
The agency says: “The property has, and continues to receive heavy investment in all areas and represents an opportunity for a purchaser to take on a substantial and highly profitable hotel with minimum fuss.”
All of the trade areas have been refurbished with a ‘modern urban theme’.
A spokesperson from Charles Darrow said: “Hotel Sunnyside is a strong trading entity and has appeared on the market due to unforeseen circumstances.
“There is not another hotel with facets like it in the area and it would be a good suit for a hotel group or husband and wife ownership looking to adapt the current seasonal model to a 12-month trading operation.
“It is early days yet but we are expecting to see strong interest in this listing by September.”