5/23/2018 | Hotels

Norfolk hotel for sale after 25 years under same ownership

Specialist business property adviser, Christie & Co has been instructed to bring to the market Castle Hotel, a 3 AA star venue in the centre of the Norfolk town of Downham Market.

The period Grade II listed property boasts 12 en suite letting bedrooms on the upper two floors which have been recently refurbished to a high quality, whilst the ground floor comprises bar and dining areas plus a private meeting room. The Castle Hotel has been a focal feature of the town since it was built in the mid 17th century and is now a popular leisure venue, with the bar and restaurant enjoying a busy local trade.

Additionally, the site provides extensive, self-contained owner’s accommodation with three bedrooms and patron car parking for up to 15 vehicles. In close proximity to the local rail station and main roads, Castle Hotel benefits from good accessibility to major cities including London (I hour 20 minutes) and Cambridge (35 minutes). With a loyal local following and high level of visitors to the town, the hotel enjoys growing levels of income and profit, particularly following the improvements undertaken by the current owners.

Owned and operated by Helen & Howard Fradley for more than 25 years, they are now looking to retire. They comment, “We have had an amazing 27 years here and have watched the business grow from strength to strength, but it is now time for us to move our lives in a different direction.’’

Tim Gooding, Director at Christie & Co commented: “The Castle Hotel has been transformed in recent times with a full refurbishment programme so that the letting rooms in particular have become sought after by both commercial and leisure customers seeking exceptional quality and service standards. The hotel’s food and bar attract a good deal of local custom and overall the business has become highly profitable and would be an ideal purchase for a buying couple who would benefit from the growth and profitability created by the sellers. The Castle Hotel is a property we’d genuinely recommend is viewed at the earliest opportunity.”

The asking price for the freehold property and business is £495,000.