Big Sleep Hotel, Cardiff Bute Terrace, CF10 2FE CONTACT US Stylish hotel in capital city location 81 letting bedrooms Over 230 years on lease at low rent Revenue of around 1m net, of which 90% is B&B Viewing is strictly by prior appointment with Colliers International through: Peter Brunt Hotels 0117 917 2000 peter.brunt@colliers.com Property Ref: 222090 Offers Around 2m Long Leasehold Colliers International Broad Quay House Broad Quay Bristol BS1 4DJ www.colliers.com/uk
The Big Sleep Cardiff is the original Big Sleep Hotel. It opened in 1999 to much acclaim as a stylish addition to the Cardiff hotel scene. This is a rooms-led business, the 81 bedrooms creating the opportunity for excellent profits and the hotel has a prominent location in this vibrant capital city. Cardiff is Wales' principal commercial centre, the seat of the National Assembly for Wales and the base for most national, cultural and sporting institutions. As well as having many major employers, Cardiff is a significant tourism centre and the most popular visitor destination in Wales, generating over 18m visitors in 2010 according to a Cardiff County Council study. The Big Sleep is well-located to take advantage of opportunities for trade in this busy city. The hotel is located opposite the Motorpoint Arena (formerly the Cardiff International Arena) and the newly built John Lewis, and within a short walking distance from Cardiff railway station and the Millennium Stadium. Our client has had considerable enjoyment from developing this small chain of hotels. This is one of a number of businesses that our client runs and he has decided to focus his energies elsewhere, leading to the decision to sell the three Big Sleep hotels located in Cardiff, Cheltenham and Eastbourne. THE PROPERTY Built in the 1970s as office accommodation for British Gas, the building is ground plus 10 floors with bedrooms on nine floors. The framed construction means that there is a huge expanse of glass affording excellent views of the city on all sides from the bedrooms, and 70% of the bathrooms. PUBLIC AREAS The Reception is accessed directly from the car park which is above street level. Adjacent is a Bar and Reception Lounge. Breakfast Room seating 50. Meeting Room for 30 boardroom style or 80 theatre style. LETTING BEDROOMS 81 bedrooms to sleep 184 (44 double, 24 twin, 1 executive double, 1 penthouse double, 6 with two doubles, 2 with two doubles and one single, 2 triple and 1 double with two singles). All rooms are electrically heated and have direct dial telephone, colour TV, tea and coffee making facilities and hairdryer. SERVICE AREAS Kitchen. Stores. Boiler Room. Staff room. OUTSIDE There are 19 car parking spaces and a small area of outside space adjacent to a meeting room. LOCAL AUTHORITY Cardiff City Council, Cardiff 02920 872000. Mains electricity, gas, water and drainage. There is an air-cooling system to all bedrooms and full air-conditioning in reception. WEB www.thebigsleephotel.com LICENCE Premises Licence.
TRADE Management accounts for the year ended 31 December 2011 show net sales of 972,273, a dip on the previous year's performance. However, the recent appointment of the Cheltenham general manager to oversee this hotel as well is already showing an improvement in trading performance and cost control. LEASE The residue of a 250 year lease (currently 236 years) at a current rent of 10,000 per annum which increases at 3% per annum. PRICE Offers around 2m for the leasehold property including goodwill and trade contents, excluding personal items and trading stock. FINANCE Colliers International is able to assist prospective purchasers by introducing sources of finance if required. Whilst we do not charge the buyer for this service, we may receive an introductory commission from the lender or broker involved. TO VIEW All appointments to view MUST be made through the vendors' agents who are acting with sole selling rights. DIRECTIONS Leave the M4 for the A48(M) towards Cardiff centre. Take the Newport road, A4161, into the city before following the signs for Cardiff Bay and the A4160. At the next traffic light junction bear right folliowing the road and the Big Sleep will be seen on your left hand side. M4/A48(M) Junction seven miles, Bristol 40, Swansea 45, Birmingham 113, central London 148.
Misrepresentation Act: Colliers International gives notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Colliers International has any authority to make any representation or warranty whatsoever in relation to this property. 22 June 2012 Colliers International is the licensed trading name of Colliers International Property Consultants Limited. Company registered in England & Wales no. 7996509. Registered office: 9 Marylebone Lane, London W1U 1HL.