An independent 50-bedroom hotel in Kent has gone up for sale with a price tag of £3.25m.
Grange Moor Hotel in Maidstone has been owned Hsaio Gibbons and her family since 2010, after acquiring the hotel off a guide price of £2.95m.
The hotel comprises a main building with a Tudor-style façade, set over three floors containing 38 bedrooms. A Tudor-style function suite and meeting rooms, as well as a recently refurbished bar, restaurant and garden are also part of the offering.
An additional building, known as Grange Park Hotel, is home to a further 12 bedrooms.
The combined plot size is circa 1 acre and both buildings offer the potential for development, either through increasing existing bedroom count or exploring alternative uses such as a residential development (subject to necessary planning consents).
Chris Field, of the Hotel Agency Team at Knight Frank, commented: “This hotel benefits from a strong and long-standing reputation in Maidstone as an established independent venue. Having been under the same ownership for the last ten years the business has proven to be a successful operation with income derived from multiple revenue streams. Its excellent connectivity both by road and rail make the hotel attractive to both leisure and corporate guests.
“The success of the business is reflected in its historic trading performance for the year end 2019 that saw the hotel provide a turnover of approximately £1 million with an adjusted net profit of £380,000.”