Popular Budget Hotel in Northamptonshire

Corby, Northampton
REF: R07704

Asking Price:
£170,000
Annual Turnover:
£115,000
Annual Net Profit:
TBC
REF: R07704

Overview

Tenure:
Leasehold
Established:
2016
  • Excellent reputation
  • Loyal customer base
  • Well-equipped and recently refurbished premises
  • Equipment included
  • Low overheads

Recently arrived on the market is a budget hotel located in the Old Village of Corby in Northamptonshire, one of the fastest growing towns in the UK. Featuring a total of 13 bedrooms, the business for sale is a small budget hotel which prides itself on providing a friendly and personal service to its valued guests. It benefits significantly from its prime location in the heart of Corby, including a convenient 2-minute walk to a train station with direct connections to major cities such as London. Although the hotel does not offer catering, guests have easy access to a multitude of eateries in the immediate vicinity, including pubs and fine dining restaurants. Nonetheless, coffee and tea making facilities are provided in each room, as well as two vending machines in the lobby. One machine offers hot Italian bean to cup coffee, whilst the other provides cold drinks and snacks.

Customers appreciate the hotel’s hassle-free and friendly check-in procedure, as well as its budget pricing which does not sacrifice cleanliness or quality of experience. The recent refurbishment of the premises is also rated highly by guests for furthering the hotel’s value for money. Occupancy before the pandemic was at an excellent level and bookings are quickly returning, therefore making this a brilliant acquisition for a buyer interested in the hospitality sector. Corby is the second-highest growing county area in the UK, with a 10.2% population growth from 2013 to 2018, thus further cementing the excellent potential in this hotel.

The business benefits from being immediately surrounded by an array of local shops, a retail park, and two industrial estates, therefore bringing plenty of footfall past the hotel and providing great amenities for guests.

The hotel is presented to a very high standard due to the recent refurbishment of the premises, which was conducted by reinvesting a major proportion of last year’s profits. The new owner will benefit significantly from these improvements, demonstrating the great value for money that is provided by the listed sale price. The entirety of the hotel, including its 13 rooms, are spaced out across one floor of the building. The rooms vary in size, with some sharing a bathroom whilst others have an ensuite, therefore accommodating for a wider variety of budgets.

A transitional period is available with this purchase to ensure a smooth handover of business operations.

This is a fantastic opportunity to purchase a reliable, in-demand hotel that has a highly promising future. It would be an ideal purchase for a start-up entrepreneur, or an existing operator within the hospitality who is looking to expand their offering. The hotel would also be a great acquisition for a local businessman or consortium already residing in the surrounding area.

The business already experiences a consistently high level of demand, but there are multiple measures which could be taken to boost occupancy further. For example, the new owner could develop an advertising campaign to promote its USP and generate greater brand awareness. Hosting events and working in partnership with other local businesses would offer further income streams and therefore increase overall profits. Introducing a loyalty scheme would likely be a popular option for encouraging repeat visits, particularly due to the hotel’s close proximity to London.

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  • Village location
  • Close to local businesses
  • High footfall
  • No local competition
  • Nearby car parking
  • Good transport links
Rent
£12,500
Rates
£0
Lease Term
21
Lease Expiry
18 years remaining
Square Footage
TBC
Accommodation Included
No
Premises Licence
TBC
Property Value
TBC
Planning
TBC
EPC
TBC

Annual Turnover
XXXX
Annual Net Profit
XXXX
Stock at Valuation
XXXX
Accounts
XXXX
Trading Entity
XXXX
Current Ownership
XXXX
Management Structure
XXXX
Number of Employees
XXXX

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