Property photos
Business
Guide price
£1,950,000
(£1,950,000.00/sq. ft)
Hotel for sale
New Street, Worcester WR11 sq. ft
Local area information
Property location
Nearby amenities
- The King's School 0.3 miles
- Stanley Road Primary School 0.3 miles
- Worcester Foregate Street 0.3 miles
- Worcester Shrub Hill 0.4 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Worcester to find out more about the local area.
Features and description
- Boutique self-check-in hotel with 13 rooms
- Separate bar and self-service laundrette businesses included
- Three trading businesses with distinct brands available as going concern
- Freehold premises
- Newly refurbished period buildings
- City centre location
- All fixtures, fittings and furniture included
- Forecast ebitda for the current financial year is £250,000.
- C. 6,202 sq ft gross internal area
Overview
KJB commercial is delighted to bring to market this boutique self-check-in hotel comprising 13 rooms, with the further benefit of both a separate bar and a self-service launderette. Located in the heart of Worcester's city centre, 15,16, and 17 New Street offer an exceptional opportunity for investment within a vibrant and historic area. The buildings are steeped in history, with architectural features that reflect their rich heritage.
This is a rare and genuine opportunity, arising from the current owner's plans to relocate overseas.
The Property
15,16,17 New Street comprises three Grade II listed terraced buildings trading as a boutique self-check-in hotel with 13 rooms, plus a separate bar and self-service launderette. Each of the terrace building includes three storeys of accommodation plus cellars, and there is an external courtyard to the rear.
Trading as "Riize Rooms", the generous and beautifully decorated hotel rooms have been completed and maintained to an extremely high standard throughout, benefitting from modern styling blended with traditional features. All rooms are soundproofed and equipped with flat-screen TVs, hairdryers and various additional amenities.
A brief schedule of the hotel accommodation is summarised below:
Room 1 - Studio Apartment (c.37 sq m) - Features king bed, fully equipped kitchen, external patio area, and private bathroom with bath.
Room 2 - King Bed Ensuite (c.19 sq m) - Features king bed, private bathroom with shower.
Room 3 - Super King or Twin Ensuite (c.23 m sq) - Features include a private bathroom with a bath and a shower, with the beds capable as being configured as a super king or double.
Room 4 - King Bed Ensuite (c.19 sq m) - Features king bed, private bathroom with shower.
Room 5 - Double Bed Ensuite (c.16 sq m) - Features double bed, private bathroom with shower.
Room 6 - King Bed Family Room with Shared Bathroom (c.26 sq m) - Features super king bed, bunk beds and use of a shared bathroom with a bath and shower.
Room 9 - Super King Bed Studio with Shared Bathroom (c.26 sq m) - Features double bed, fitted kitchenette (including stovetop, refrigerator and dishwasher), use of shared bathroom with a bath and shower.
Room 10 - King Bed with Shared Bathroom (c.26 sq m) - Features king bed, use of shared bathroom with a bath and shower.
Room 11 - Superior Twin Ensuite (c.37 sq m) - Features twin bed, private bathroom with shower, and external patio area.
Room 12 - Superior King Ensuite (c.19 sq m) - Features double bed, private bathroom with shower.
Room 13 - Superior King Ensuite (c.23 sq m) - Features double bed, private bathroom with shower.
Room 14 - Superior King Ensuite (c.19 sq m) - Features double bed, private bathroom with shower.
Room 15 - Superior King Ensuite (c.16 sq m) - Features double bed, private bathroom with shower.
The average daily room rate for the hotel rooms is £87 / night, which includes recent promotional periods where room rates were discounted during the development of the hotel; this therefore affords substantial room for growth in the adr now that all works have been completed. This hotel business model is based on a self-check-in basis, with operational requirements, staff numbers, and overhead costs all being low.
The bar, trading as "Bar TwentyTwo", includes a spacious and well decorated bar with multiple seating areas and a number of fantastic period features. Part of the first floor includes a private function room which can be utilised as further public seating. A further part of the first floor space has very been recently converted to provide commercial kitchen facilities, with an exclusivity and revenue share agreement in place with a third-party vendor - providing a passive income stream that also supports the bar's wet sales. The rear courtyard provides a wonderfully tranquil outdoor dining / drinking area, and the bar is helpfully serviced by a cellar.
There is a self-service launderette at the front of the property trading as "Easy Spin" that is able to service the needs of both staying guests and third-party customers, with a separate area for use by the hotel's housekeeping team. The launderette's annual revenue is approximately £15,000.
An indicative floor plan has been provided to show the exceptional space that is available within this property, with many of the rooms benefitting from the charm of original fireplaces and other period features.
Each of the three business brands benefits from distinct and impressive online followings across social media and other relevant platforms (include over 1,000 online reviews for the hotel and over 500 Google reviews for the bar). The three brands have over 7,000 followers across Instagram, Facebook and TikTok.
Value-Add Opportunities
There are considerable value-add opportunities, with obvious potential for growth in the hotel's average daily room rate. Occupancy levels could be further improved by brokering third-party partnership arrangements and via further direct bookings.
The recent addition of the fitted-out kitchen facilities within the bar are projected to provide considerable growth to the revenue that can be generated here (in both wet and dry sales and the provision of food services to hotel guests), with the potential for hosting more private hire events also.
The laundry business has the potential to offer serviced washes for further revenue opportunities.
Seo efforts have recently commenced, with the expectation that this will generate considerable further interest in each of the three brands. The property also has the potential to be extended, subject to planning permission.
The forecast ebitda for the current financial year is £250,000.
Location
Situated on New Street, the property benefits from a central location within Worcester. The area is well-connected with easy access to public transportation, including bus and train services. Car parking is available nearby in multiple locations, including the nearby ncp and the Cornmarket car park.
New Street is known for its bustling atmosphere and proximity to key amenities such as shopping centres, restaurants, and cultural attractions. The property is a short walk from the picturesque River Severn, offering scenic views and recreational opportunities.
Worcester city centre is a vibrant hub of history, culture and commerce. New Street dates back to the 13th century and was historically a major thoroughfare connecting the cathedral and the market square. Today it retains its charm with a blend of medieval and Georgian buildings housing a mix of independent shops, boutiques, cafes, bars and restaurants. New Street adjoins the picturesque Friar Street, with its traditional timber-framed buildings, and runs in parallel to the popular pedestrian shopping routes of The Shambles and Worcester's High Street. The route from the Sidbury area of the city to the Cornmarket, via Friar Street and New Street, offers considerable charm and is now very much the epicentre of Worcester's boutique shopping, food and beverage scene.
Guide Price
£1,950,000 plus VAT (plus stock at valuation), to include the freehold of the property, fixtures and fittings, and all assets and goodwill held in the trading businesses (Riize Rooms, Bar TwentyTwo and Easy Spin).
Trading Information
Business trading information is available upon request via KJB commercial.
Tenure
The property is available to purchase on a freehold basis, alongside the three businesses that are being sold as a going concern.
The vendor will consider either an asset sale or a share sale structure.
Legal & Administrative Costs
Each party will pay their own legal fees.
Energy Performance
The vendor has been advised that the properties qualify for relevant exemptions in respect of minimum energy efficiency standards as a result of the listed status of each building.
Business Rates
Buyer to rely on its own enquiries of the voa.
Planning
The Buyer should rely on its own enquiries of the local planning authority.
Value Added Tax
All sums are quoted exclusive of value added tax, to the extent that such tax may apply. It is understood by the agent that the property is elected for VAT purposes and that VAT would therefore be applicable to the purchase price (but the disposal ought to be deemed outside the scope of VAT on the basis of the togc). The purchaser should take their own VAT advice in the usual way.
Viewings
All viewings strictly by appointment with the Agent.
Finding the Property
Postcode: WR1 2DP
what3words: ///grape.jazzy.marble
Worcester Cathedral 0.5 miles, Malvern Hills 11 miles, Ledbury 17 miles, Tewksbury 17 miles, Cheltenham 24 miles, Gloucester 28 miles, Birmingham International Airport 36 miles.
KJB commercial is delighted to bring to market this boutique self-check-in hotel comprising 13 rooms, with the further benefit of both a separate bar and a self-service launderette. Located in the heart of Worcester's city centre, 15,16, and 17 New Street offer an exceptional opportunity for investment within a vibrant and historic area. The buildings are steeped in history, with architectural features that reflect their rich heritage.
This is a rare and genuine opportunity, arising from the current owner's plans to relocate overseas.
The Property
15,16,17 New Street comprises three Grade II listed terraced buildings trading as a boutique self-check-in hotel with 13 rooms, plus a separate bar and self-service launderette. Each of the terrace building includes three storeys of accommodation plus cellars, and there is an external courtyard to the rear.
Trading as "Riize Rooms", the generous and beautifully decorated hotel rooms have been completed and maintained to an extremely high standard throughout, benefitting from modern styling blended with traditional features. All rooms are soundproofed and equipped with flat-screen TVs, hairdryers and various additional amenities.
A brief schedule of the hotel accommodation is summarised below:
Room 1 - Studio Apartment (c.37 sq m) - Features king bed, fully equipped kitchen, external patio area, and private bathroom with bath.
Room 2 - King Bed Ensuite (c.19 sq m) - Features king bed, private bathroom with shower.
Room 3 - Super King or Twin Ensuite (c.23 m sq) - Features include a private bathroom with a bath and a shower, with the beds capable as being configured as a super king or double.
Room 4 - King Bed Ensuite (c.19 sq m) - Features king bed, private bathroom with shower.
Room 5 - Double Bed Ensuite (c.16 sq m) - Features double bed, private bathroom with shower.
Room 6 - King Bed Family Room with Shared Bathroom (c.26 sq m) - Features super king bed, bunk beds and use of a shared bathroom with a bath and shower.
Room 9 - Super King Bed Studio with Shared Bathroom (c.26 sq m) - Features double bed, fitted kitchenette (including stovetop, refrigerator and dishwasher), use of shared bathroom with a bath and shower.
Room 10 - King Bed with Shared Bathroom (c.26 sq m) - Features king bed, use of shared bathroom with a bath and shower.
Room 11 - Superior Twin Ensuite (c.37 sq m) - Features twin bed, private bathroom with shower, and external patio area.
Room 12 - Superior King Ensuite (c.19 sq m) - Features double bed, private bathroom with shower.
Room 13 - Superior King Ensuite (c.23 sq m) - Features double bed, private bathroom with shower.
Room 14 - Superior King Ensuite (c.19 sq m) - Features double bed, private bathroom with shower.
Room 15 - Superior King Ensuite (c.16 sq m) - Features double bed, private bathroom with shower.
The average daily room rate for the hotel rooms is £87 / night, which includes recent promotional periods where room rates were discounted during the development of the hotel; this therefore affords substantial room for growth in the adr now that all works have been completed. This hotel business model is based on a self-check-in basis, with operational requirements, staff numbers, and overhead costs all being low.
The bar, trading as "Bar TwentyTwo", includes a spacious and well decorated bar with multiple seating areas and a number of fantastic period features. Part of the first floor includes a private function room which can be utilised as further public seating. A further part of the first floor space has very been recently converted to provide commercial kitchen facilities, with an exclusivity and revenue share agreement in place with a third-party vendor - providing a passive income stream that also supports the bar's wet sales. The rear courtyard provides a wonderfully tranquil outdoor dining / drinking area, and the bar is helpfully serviced by a cellar.
There is a self-service launderette at the front of the property trading as "Easy Spin" that is able to service the needs of both staying guests and third-party customers, with a separate area for use by the hotel's housekeeping team. The launderette's annual revenue is approximately £15,000.
An indicative floor plan has been provided to show the exceptional space that is available within this property, with many of the rooms benefitting from the charm of original fireplaces and other period features.
Each of the three business brands benefits from distinct and impressive online followings across social media and other relevant platforms (include over 1,000 online reviews for the hotel and over 500 Google reviews for the bar). The three brands have over 7,000 followers across Instagram, Facebook and TikTok.
Value-Add Opportunities
There are considerable value-add opportunities, with obvious potential for growth in the hotel's average daily room rate. Occupancy levels could be further improved by brokering third-party partnership arrangements and via further direct bookings.
The recent addition of the fitted-out kitchen facilities within the bar are projected to provide considerable growth to the revenue that can be generated here (in both wet and dry sales and the provision of food services to hotel guests), with the potential for hosting more private hire events also.
The laundry business has the potential to offer serviced washes for further revenue opportunities.
Seo efforts have recently commenced, with the expectation that this will generate considerable further interest in each of the three brands. The property also has the potential to be extended, subject to planning permission.
The forecast ebitda for the current financial year is £250,000.
Location
Situated on New Street, the property benefits from a central location within Worcester. The area is well-connected with easy access to public transportation, including bus and train services. Car parking is available nearby in multiple locations, including the nearby ncp and the Cornmarket car park.
New Street is known for its bustling atmosphere and proximity to key amenities such as shopping centres, restaurants, and cultural attractions. The property is a short walk from the picturesque River Severn, offering scenic views and recreational opportunities.
Worcester city centre is a vibrant hub of history, culture and commerce. New Street dates back to the 13th century and was historically a major thoroughfare connecting the cathedral and the market square. Today it retains its charm with a blend of medieval and Georgian buildings housing a mix of independent shops, boutiques, cafes, bars and restaurants. New Street adjoins the picturesque Friar Street, with its traditional timber-framed buildings, and runs in parallel to the popular pedestrian shopping routes of The Shambles and Worcester's High Street. The route from the Sidbury area of the city to the Cornmarket, via Friar Street and New Street, offers considerable charm and is now very much the epicentre of Worcester's boutique shopping, food and beverage scene.
Guide Price
£1,950,000 plus VAT (plus stock at valuation), to include the freehold of the property, fixtures and fittings, and all assets and goodwill held in the trading businesses (Riize Rooms, Bar TwentyTwo and Easy Spin).
Trading Information
Business trading information is available upon request via KJB commercial.
Tenure
The property is available to purchase on a freehold basis, alongside the three businesses that are being sold as a going concern.
The vendor will consider either an asset sale or a share sale structure.
Legal & Administrative Costs
Each party will pay their own legal fees.
Energy Performance
The vendor has been advised that the properties qualify for relevant exemptions in respect of minimum energy efficiency standards as a result of the listed status of each building.
Business Rates
Buyer to rely on its own enquiries of the voa.
Planning
The Buyer should rely on its own enquiries of the local planning authority.
Value Added Tax
All sums are quoted exclusive of value added tax, to the extent that such tax may apply. It is understood by the agent that the property is elected for VAT purposes and that VAT would therefore be applicable to the purchase price (but the disposal ought to be deemed outside the scope of VAT on the basis of the togc). The purchaser should take their own VAT advice in the usual way.
Viewings
All viewings strictly by appointment with the Agent.
Finding the Property
Postcode: WR1 2DP
what3words: ///grape.jazzy.marble
Worcester Cathedral 0.5 miles, Malvern Hills 11 miles, Ledbury 17 miles, Tewksbury 17 miles, Cheltenham 24 miles, Gloucester 28 miles, Birmingham International Airport 36 miles.
Floor plans and tours
Floor plans (1)
1 floor plan available
View the floor plan to understand the space and layout of this property.
More information
Listed by
KJB Commercial
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Property descriptions and related information displayed on this page are marketing materials provided by - KJB Commercial. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact KJB Commercial for full details and further information.