Property Details: • Type: Ask agent • Tenure: N/A • Floor Area: N/A
Key Features: • Circa 30 well-appointed en-suite bedrooms • Significant conferencing and events space • Successful and established wedding and function business • Excellent location with easy transportation links • Large population centres in close proximity • Ample car parking spaces • Development potential to create additional facilities • In total, the site extends to six acres • Revenue of c. £1.7 million and EBITDA of c. £360k for YE 2024 • Restaurant with 70 covers and a private dining facility
Location: • Nearest Station: Birmingham Snow Hill Station • Distance to Station: 0.1 miles
Agent Information: • Address: 17 Dix's Field, Exeter, EX1 1QA
Full Description: The hotel has been significantly refurbished and extended over the last twenty years. It now provides circa 30 carefully designed, en suite bedrooms, an extensive food and beverage offering and significant conference and events space in an attractive setting on a 6 acre site with opportunity to explore further development (STPP). The hotel benefits from excellent connections to the West Midlands, Bromsgrove, Birmingham, Redditch, Warwick, Stratford and Coventry, making the business a popular venue for weddings, meetings, conferences and events. THE BUSINESS The business is well diversified with a mix of both leisure and corporate demand for letting bedrooms and a well rounded wedding, meeting and events business that complements the room offering. The hotel has an established and successful wedding business, hosting 62 weddings in 2023, 56 in 2024 and 40 already in the pipeline for 2025. They also host christenings, wakes and family gatherings. During 2023 the hotel hosted 45 events, 50 in 2024, and 22 in the pipeline for 2025. The business is established and profitable, with total revenue in the region of £1.3m for 2022, £1.5 million for YE 2023 and £1.7m for YE 2024, and an EBITDA of £450k, £380k and £360k for the respective years.
The property is closely located south of Britain's second largest city, Birmingham. The wider city has a population of 4.3 million, making it the largest outside of London. Birmingham is considered the social, cultural, financial and commercial centre of the Midlands and is a major events and conference hub. In 2021, the city was the third most visited city in the UK from international visitors. The nearby towns of Solihull, Coventry and Redditch have a combined population of 749,000. The headquarters of Jaguar Land Rover are in Coventry and Mondelez-Cadbury UK is based in Birmingham. The large population within a thirty minute drive from the hotel, and national and international companies with their headquarters nearby deliver an excellent blend of function, wedding and corporate business. In addition, the property is easily accessible from the M42, meaning the hotel attracts a good level of transient corporate and leisure trade.
