Family-run guesthouse with bar & restaurant seeks new tenant
Specialist business property adviser, Christie & Co is pleased to introduce to market, the opportunity to acquire The Minster Hub Accommodation & Zills Restaurant in York, North Yorkshire on a new 10-year FRI leasehold basis, with a combined asking rent of £50,000 per annum.
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Ideally positioned on Gillygate in the city centre, a short walk from York City Walls and York Minster, this refurbished guesthouse comprises six en-suite bedrooms spread across four floors, combined with a ground floor restaurant and bar.
The business has come to the market as the current owners, Kurt and Karen Guzelkabaagac are looking to retire. They wish to retain the freehold and lease the property to an enthusiastic new operator.
Minster Hub Accommodation & Zills Restaurant is surrounded by a busy licensed and retail circuit with high footfall and traffic movements and boasts a 9.6 rating on Booking.com, making it a great opportunity for an independent couple team or business partners looking to take on an established hospitality business which they can grow and make their own.
There is significant scope to increase room turnover by advertising the letting rooms on additional booking platforms, increasing room occupancy throughout the year. There is also huge potential to increase trade in the restaurant by expanding trading hours through Monday to Sunday. Currently, Zills Restaurant is only open on Friday and Saturday from 5pm-9pm.
Kurt and Karen comment, “As a family, we have enjoyed working together in York centre but we’re now looking to pursue retirement and my son is hoping to invest in other business ventures. The business has much more potential to offer and can easily trade to a much higher capacity, so we look forward to engaging with prospective leaseholders to take over our family business.”
Sam Ashton, Senior Business Agent at Christie & Co, who is seeking the new lessee on behalf of Kurt and Karen adds, “Demand for rooms continues to be very high in York, one of the most popular tourist destinations in the country. Combined with a restaurant, bar and breakfast room for guests on the ground floor, this is a fantastic opportunity for experienced operators to invest in and the leasehold structure opens up a more affordable opportunity for most hospitality operators.”
For further information on this press release, contact:
Bronte Hughes, Corporate Communications Executive
M: +44 (0) 7721 420 656 or E: bronte.hughes@christie.com
Contact the agent:
Sam Ashton, Senior Business Agent – Licensed & Hospitality
M: +44 (0) 7732 497 878 or E: sam.ashton@christie.com
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