Warwick Kenilworth Hotel

For Sale £3,500,000

Hotel

Property Description

Online auction date: 27 April 2021. Bidding closes at 12:30pm. By TOWN AND COUNTRY PROPERTY AUCTIONS LONDON -https://www.townandcountrypropertyauctions.co.uk/london/
All bidders must register beforehand.  The Warwick Kenilworth Hotel is a purpose built 68 en-suite bedroom hotel which stands on a substantial freehold 9-acre site.
There is significant scope to re-brand the hotel to several different branding options which can include the development of additional bedroom and public areas, subject to the necessary consents.
Due to the hotel’s highly accessible and well connected location, it has become a popular destination for both business and leisure travellers from the local, regional and national area. Located a short 25-minute drive to Birmingham International Airport, the NEC and Stoneleigh Business Park the Warwick Kenilworth is an established conference and meeting venue. With nearby local attractions such as Warwick Castle, Shakespeare’s House and Warwick Racecourse, the hotel also commands a strong leisure guest base. The University of Warwick is also a close seven-minute drive away. The opportunity to acquire the hotel and large 9-acre site provides an investor with multiple asset management opportunities including demolition and redevelopment of a new hotel increasing the density on the site, thus generating additional revenue and profit streams.

Accommodation
Arranged over ground and two upper floors, this purpose-built property offers 68 en-suite letting bedrooms. The bedrooms are spacious in size and configured as follows:
37 double rooms
9 executive rooms
2 single rooms
18 twin rooms
1 disabled room

Food and Beverage Facilities
The Kavi’ restaurant provides seasonal dishes for breakfast, conference lunches and dinners throughout the week. The restaurants bar also provides a space popular with guests dining in the restaurant and conference guests during breakout sessions.

Conference and Meeting Facilities
The Warwick Kenilworth Hotel is an ideal location for meetings or conferences with four flexible meeting and function rooms of which the largest is the Chandelier Ballroom, accommodating up to 500 guests for a special event or conference. The hotel is also a popular wedding and social event venue, catering for variety of weddings, birthdays and other SMERF related business.

The Site
The hotel sits in a c. 9-acre freehold site with car parking for up to 250 vehicles. The substantial site lends itself to asset management and development opportunities, subject to securing the necessary planning consents.

The Business
The Warwick Kenilworth Hotel is well established within the local area as one of the most popular choices for meeting, accommodation and conference facilities. The local market drives significant corporate business and weekend leisure with all key demand generators being located within a 13-mile radius. Transient business maintains weekly occupancy rates due to the hotels location just off the M40 which provides direct access to the UK’s busiest motorways and A roads.
The Business has generated total revenues in excess of £1.9m over the last two years with year-ending 31 December 2019 Total Revenue of £1,010,918. Detailed trading information will be made available to interested parties upon request and via legal documents from the Town & Country website.
There is the opportunity to employ capital investment into the business whether it be extension, redevelopment or repositioning, which would drive top line revenues and profit. Given the Hotel’s location there is scope to develop and rebrand the business through another international recognised hotel group.

Commercial EPC Rating C

Online auction date: 27th April 2021 – bidding closes at 12:30pm. 
All bidders must register beforehand by clicking ‘Log in / register to bid’ and following the prompts.
Bidding is also available by way of telephone and proxy. 
Please note that wherever possible viewings will be by virtual tour.  Any viewings that we do conduct in person will follow current Government guidelines.
For further information please contact our auction team on 02030 111499.

Exchange And administration fee information:  (plus fees)
Buyers Admin Fee Applies Upon the fall of the hammer, the Purchaser shall pay a 10% deposit (subject to minimum of £5,000, whichever is the greater) and a Buyer's Admin Fee of £900 inc VAT and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated).
In addition to the purchase price, buyers may be required to pay additional fees, costs and charges. These may include, but are not limited to, Value Added Tax (VAT), Stamp Duty, ground rents, rent arrears/apportionment of rent, outstanding service charges, sellers search costs/disbursements, reimbursements of sellers solicitors, auctioneer costs, buyer’s premiums or reservation fees.
 
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