Selling a hotel

Evening all

A commercial property question for you all.

My father in law has finally decided to sell his hotel and retire. He’s signed an agreement with a commercial property agent who has turned out to be a total waste of space and time. Can anyone recommend a decent agent or other method to sell a hotel valued at 1.2mil in Cumbria?

A beer or ten in it for a successful referral 😉

Shouldn’t this thread be in the classifieds? 😉

I can offer a cheeky rennet for it

try one of these:

the first has a couple of similar value hotels/guest houses

http://www.matthewsbenjamin.co.uk/index.php

http://www.cumbrian-properties.co.uk/commercialresults.cfm

http://www.peill.com/property_results.cfm

now where do I collect my beer from??

Happy Selling

Shouldn’t this thread be in the classifieds?

lol yes I suppose it should be.

Free beer clause only activated on completion of sale 👿

I am guessing that your fil has a solicitor to advise/undertake the sale – ask him/her to recommend an agent

ok if you do use one of these agents do not forget who put you on to them 😉

Honestly I really hope your F-I-L can sell the property in these turbulent times.

I assume he’s selling the business not just an empty property. If so try these…
em & f[/url]
knightsbridge[/url]
kings[/url]

From my experience (buying not selling) it very much seems to depend on the individual office / member of staff. Generally though I have never been able to work out exactly what they do other than stick the details on here[/url] and be a messaging service between buyer and seller.

I have never been able to work out exactly what they do other than stick the details on here and be a messaging service between buyer and seller

And that is why I despise the parisitic smug barstewards. In my eyes even worse than criminal defense lawyers defending scumbags on legal aid.
Rant over.
For now.

^ how do you know the defendant is a scumbag until the trial has taken place?

When our paths crossed in the past http://www.christie.com/home were professional.

He’d probably find some other leisure specific agencies in professional magazines
http://www.hotel-industry.co.uk/
http://www.hotel-magazine.co.uk/

^ how do you know the defendant is a scumbag until the trial has taken place?

The lawyers know right away and many are bona fide repeat offenders anyway. They’ll much rather defend a junkie who broke into someone’s house for the lucrative legal aid than someone with a job who’s been caught speeding….

they don’t to choose their clients!!

No but they specialise in Neds because that’s where the money is – and plenty of repeat business. They screw the legal aid which comes from the taxpayer. I’m not saying they all do this but I know some that do.

there isn’t really a defence for being caught speeding tho is there?

there isn’t really a defence for being caught speeding tho is there?

There is if you were driving your own car abroad at the time el ploddo allege you were speeding in the UK.

how did we get here from there?

By car.

Locally I guess http://www.pfandk.co.uk/

or to get decent exposure with a property of that size I would look at:

http://www.savills.co.uk/
or
http://www.struttandparker.com/

Hope this helps

I can help, as this is what I do, I work for one the national firm of agents and surveyors, you do need specialist advise. My parents also sold their hotel about 2 years ago and I got them to use another firm as I didn’t want to deal with it, so I wont give you the hard sell!

Firstly I don’t know who your father in law is using to sell the hotel, but there is hardly any bank funding available at the moment, which is the main problem. You say its been valued at £1.2m, is this from a formal valuation or market valuation? Unless your father in law’s adjusted net profit (or EBITDA) stacks up, it needs to be either £120k – £200k, it will be very hard to find a buyer who can get the money from a bank. Therefore you are likely to need a cash buyer or someone with loads of cash.

Secondly is the hotel in good condition? Does it need money spent on it? And has the trade dropped dramatically? If so, it may not look the most attractive option when you consider all the other hotels that are on the market and in administration (i.e. very cheap) at the moment.

Does every room have en suite facilities? If not, I have been hearing that the banks wont lend. Is it branded? How big is it? Should he be considering alternative use?

I know this isn’t overly positive, I won’t lie it is shit out there at the moment, but everything needs to be the right price to sell. The good news, hoowever is that he is in Cumbria and that is an area still in demand.

Feel free to call me to discuss, I have happy to give you very frank advice, but you will need to call me today as I am going away for a couple of days from tomorrow then back on Friday night. Will 07786 234 006.

Sorry not adding to the OP but

Doug – Member
there isn’t really a defence for being caught speeding tho is there?

There is if you were driving your own car abroad at the time el ploddo allege you were speeding in the UK.

Nope, they threaded to prosecute me & the two ppl who could have been driving the vehicle, even though I was in NZ @ the time.

I have no expertise in this market.

I do have experience of Cumbria.

It is a very corrupt place. On the basis of my experiences over the past five years I would advise your family that there is a high probability that the local lawyer, agent, council, planning dept, Highways, Park Authority, police, justices, etc, etc are working outside the normal agenda you would expect, in favour of operating on the basis of a friend’s/ associate’s/ fellow mason’s wants or needs, never minding any ethical or moral considerations. And don’t expect any monitoring, regulating, etc body to do anything other than excuse and endorse the status quo.

Tell your folk to be EXTRA EXTRA sure about who they do business with.

It is a very lovely place with a lot of lovely people but it is very bad for corruption and nobody is willing to do anything about it.

and wiilt is right………….

Property isn’t moving very much up there at the moment. Friends have had a guest house/ large Victorian property in a mountain valley location on the market for two years with no takers yet.

I’m told holiday lets are struggling aswell so developments for that are also at a low ebb.

fleurets, Will?

Thanks all for your input

Will – I’ll give you a call later in the week if that’s ok?

Billyboy – know what you mean about corruption, exactly why we want to help him out on the sale.

Cheers

Yoss

yes whose that?

we’ve not met. Ex KF & Ex C&W.

Now my only hotel stuff is Libyan.