The Royal Hotel, in the iconic seaside town of Whitley Bay, Tyne and Wear, has been brought to market through Christie & Co, with an asking price of £1.5m.
Sitting on the promenade, the seafront hotel provides 40 bedrooms, a substantial bar and restaurant with capacity for up to 250 covers, plus a fully equipped catering kitchen, a breakfast room with an adjoining kitchen, and off road parking for guests.
In addition to the hotel’s self contained restaurant, the ground floor is leased to an Italian restaurant, which generates additional rental income for the owner.
A popular coastal town, Whitley Bay is currently undergoing a £40m transformation of its legendary seafront and surrounding areas in a scheme funded by the local council and private investors. With a number of developments, primarily in the food and leisure sectors, either nearing completion or already completed, this has seen a marked increase in visitor numbers and businesses flocking to the growing area.
Part of this investment programme is the £10m refurbishment of the Spanish City leisure complex, a focal point and hub of the Whitley Bay leisure scene. Ideally located, The Royal Hotel is situated a few hundred yards from the Spanish City, offering tourists an ideal base to explore the area and its major attractions. A well-known venue for weddings, events, and conferences, the Spanish City also draws a variety of leisure and corporate visitors, which The Royal Hotel is well equipped to cater for.
After building up the business, generating strong profits approaching £200k per annum, owner Paul Johnstone has decided to sell the hotel to concentrate on his other business ventures. He commented, “This is a great opportunity for someone to take over an already successful and easily run business and to also capitalise on the huge regeneration of Whitley Bay seafront.”
Mark Worley, Director at Christie & Co, who is handling the sale, said, “There is currently huge demand for larger, profitable, urban hotels, especially those close to tourist and leisure attractions which are capable of providing footfall and trade.
'We therefore think that the upsurge of investment in Whitley Bay, added to the already excellent trade levels of the Royal, should make this a very popular hotel indeed.'
