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New Inn, 16 Northgate Street

For sale: POA|0.13 Acre|Pubs/Bars/Clubs, Restaurants/Cafes, Licensed & Leisure

PROPERTY DETAILS

FOR SALEPOA
SIZE0.13 Acre
ADDRESSNew Inn, 16 Northgate Street, Gloucester, GL1 1SF
TYPEPubs/Bars/Clubs, Restaurants/Cafes, Licensed & Leisure
TENUREFor Sale Freehold
POSTED ON8th September 2020

DESCRIPTION

Key Points

  • Prime city centre position
  • Traditional hotel pub restaurant
  • Grade II Listed
  • Site Area – 0.128 ha (0.317 acres)
  • 36 letting rooms over 3 floors
  • Conference room facilities
  • Vacant nightclub element with conversion/ development potential (STP)
  • New key point...
  • Summary

    The property comprises a Grade II Listed four storey semi-detached building constructed in approximately 1460.

    Description

    The property comprises a Grade II Listed four storey semi-detached building constructed in approximately 1460. The building has many period features including exposed beams, sash fenestration with a muti-pitched slate tiled roof. The building is arranged around a courtyard with cobbled tiles in the centre with galleried corridors above. Internally, the property comprises of extensive trade areas, including a closed nightclub which has conversion potential (STP). Letting rooms are then arranged over upper ground, first and second floor levels. The hotel has a total 36 letting bedrooms (3 singles; 19 doubles; 14 twins).

    Viewings

    All viewings must be arranged strictly by appointment with the sole agents Savills.

    Location

    The property is located in Gloucester, a cathedral city and district in Gloucestershire. Gloucester lies on the River Severn, between the Cotswolds to the east and the Forest of Dean to the west, 19 miles (31 km) east of Monmouth and 17 miles (27 km) east of the border with Wales. The property occupies a central position on Northgate Street, adjacent and opposite major UK retailers.

    The Business

    The New Inn operates as a coaching inn providing a variety of rooms which appeal to contractors working in the area on weekdays, couples visiting for weekend breaks as well as tourists visiting the wider area. The room rates for the hotel fluctuate dependent upon the time of year. We can confirm that the most recent financial year (2019), the hotel had a turnover in the order of £820,000 (Net of VAT), with a split percentage between accommodation, food and beverage of 40:25:35 respectively. More information on the hotel’s trading performance will be provided to seriously interested parties upon request and status.

    Planning

    Our informal planning enquiries confirm that the premises is permitted as a hotel (Use Class C1). The property is Grade II Listed and is situated within the City Centre (Area 5) Conservation Area.

    LOCATION

    Location: New Inn, 16 Northgate Street, Gloucester, GL1 1SF

    Gloucester (0.3 miles)

    Cheltenham Spa (6.6 miles)

    Stroud (8.4 miles)

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