Location: Abbey Road, Barrow in Furness, Cumbria, UK
Name: The Duke of Cambridge
No. of Keys: 24
The Property: An old Victorian house, acquired by our clients in 2018, who have secured planning consent to convert into a 24 room hotel over three upper floors, with restaurant and bar on the ground floor. The two partners have invested £1.2m thus far. The investment need will allow them to continue the refurb process to be open before the end of 2020.
Once open the partners will aim to refinance the hotel, at which stage the investor can remain in for the long-term or exit.
The owners undertook detailed market research in to the opportunities in the area before acquiring the property – including feedback from the Tourist Board on the expected increase in occupancy in the area and the lack of suitable accommodation
The attractions to Barrow are:
• Its’ location in the Lake District – and the number of tourists visiting the area
• The recent award of the Astute boat MOD contract and the creation of jobs
• The lack of a high- quality hotel in the area
The property is located at 90 Abbey Road in Furness with close- proximity to the Railway Station and Walney Island Airport which is just 5km away
The owners are of the view that there is high demand in the area for:
• High quality accommodation for tourists, ship workers / families
• Excellent restaurant with dance floor for residents, functions and local people
• An all – day coffee / tea lounge
Main Photo: The bedroom at the new hotel – imagined
Financials: Full business plan available upon signing a NDA and LOI
Current Owner: Private owner, two partners with hotel-experience
Agent: Direct from The Hotel Property Team to the owners
Guide Price for investment: £1.5m
Date Posted: December 2019
THPT Comment: An opportunity to invest or JV into a boutique hotel in this busy part of the UK’s North-West.
Contact us for further information
This is a new feature on the THPT site…. Hotel & Serviced Apartment owners can be naturally reticent in publicising their property is for sale…for confidentiality reasons, for staff and current client reasons, so the properties featured in this section will either be “generic” or “name specific”
Each fortnight we mail the opportunities posted that week, but check-out the tab “Hotels Available” and call us for details of “Under the Table” – deals not posted on the site at all
The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market.
MISREPRESENTATION ACT 1967. This information is provided as a general guide and is not intended to be constructed as a statement of fact upon which interested parties can rely. All interested parties should make their enquiries by inspection or otherwise. Neither The Hotel Property Team (trading name of Impetus Marketing 2006 Ltd) nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the premises referred to in these particulars. These details do not constitute any offer, contract or any part thereof and all negotiations relating to the premises should be conducted through THPT.