icons_size_white icons_size
menu

Agent's details

New Inn, 16 Northgate Street

For sale: £1,100,000.00|0.13 Acre|Hotels, Pubs/Bars/Clubs, Restaurants/Cafes, Licensed & Leisure

Property details

FOR SALE£1,100,000.00
SIZE0.13 Acre
ADDRESSNew Inn, 16 Northgate Street, Gloucester, GL1 1SF
TYPEHotels, Pubs/Bars/Clubs, Restaurants/Cafes, Licensed & Leisure
TENUREFor Sale Freehold
POSTED ON29th September 2022

Description

Key Points

  • Prime city centre position
  • Grade I Listed
  • Site Area – 0.128 ha (0.317 acres)
  • 36 letting rooms over 3 floors
  • Conference room facilities
  • Closed nightclub with conversion potential (STP)
  • Traditional Coaching Inn
  • Freehold / Part leasehold
  • Offers in excess of £1.1m are invited
  • Summary

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

    Description

    The property comprises a Grade I 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).

    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.

    Planning

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

    Premises Licence

    The property has been granted a Premises Licence in accordance with the Licensing Act 2003.

    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.

    Fixtures & Fittings

    The fixture and fittings are included and the premises will be sold ‘as seen’ less any personal items.

    Rating

    The subject property is entered in the current Rating List with a Rateable Value of £80,000. The National Multiplier for England and Wales for 2021/22 is £0.512.

    Tenure

    Freehold and part leasehold (more details upon request). The property will be sold as a going concern. TUPE regulations will therefore apply.

    EPC

    The building is Grade I Listed and therefore an EPC is not required.

    Guide Price

    Offers are invited in excess of £1.1 million.

    Location

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

    Gloucester (0.3 miles)

    Cheltenham Spa (6.6 miles)

    Stroud (8.4 miles)

    close
    What do you think of our website?
    Complete our survey and
    you could win £1000
    Start here