Value the freehold interest in a Bed & Breakfast hotel in central London, to enable the owner to upgrade and refurbish the property.
The 12-bedroom hotel was arranged over basement, ground and two upper floors but with only six rooms having en-suite facilities.
We valued the property in its existing condition and provided additional trading related valuation advice based on improved trading performance – resulting from an extension, as well as the refurbishment programme.
As the refurbishment/extension work had already commenced when we inspected the property, the existing valuation had to consider the:
- Costs already incurred on the property
- Further investment planned
- Impact on the business whilst the refurbishment programme was implemented - the business continued to trade throughout the process.
This enabled the bank to understand how the refurbishment work would improve trade (as all 12 rooms now offered en-suite facilities) and ultimately, the business’s Market Value.
Value the freehold interest in a Bed & Breakfast hotel in west London, to enable the owner to buy another property
The 12-bedroom hotel was arranged over basement, ground and two upper floors with all rooms benefitting from en-suite bathrooms
The business was under-trading and we were able to advise the bank of this, the reasons for the under-trading, how it affected trading potential and ultimately its Market Value.
We provided independent verification of what the bank had already suspected and advise how this could be addressed.
Valuation of a 14-bedroom bed and breakfast hotel in Macclesfield, for secured lending purposes. The property was to be valued as a fully equipped and operational entity having regard to trading potential.
The hotel had been trading for approximately 30 years and the current vendors closed it for around three and a half months per year. The proposed purchaser intended to keep the hotel open all year round.
Trading accounts were reviewed, in addition to accountant projection figures, based on the hotel being open throughout the year. The property was valued at in excess of £400,000 and the report was completed within two weeks of instruction.
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