FOR SALE
FREEHOLD INVESTMENT

THE ROYAL HOTEL
ANCHOR ROAD
BARROW-IN-FURNESS
CUMBRIA

LOCATION
The subject property is located on the east side of Anctror Road between the junctions with Abercom Streetand Aberdeen Street,close to Banow Docks.

The surrounding area is very predominantly residential, although the Docks themselves are nearby and the whole area forms part of a substantial regeneration scheme by Associated British Ports and West Lakes Renaissance,along with Banow Council and Cumbria County Council.The
proposal is for a major redevelopmentof the whole Dock area in order to create new employment opportunities and a 23 hectarc Innovation Park.

Through extensive redevelopment itself is at the end of the Furness
the major town of the "southlakes" and junction36 of the M5 motorway. The town has a catchment population of circa 80,000 and is a major industrial centre particularly with regard to heavy industrial and chemical companies,uses which may not be in such demand in the more densely populated suburban areas. These include Kimberley Clarke,McBride Plc and Sovereign
Chemicals.Furthermore,Vickers (BAC) operate what we understand is the UK's sole remaining submarine facility, providing well paid skilled employment.

Barrow-in-Furness peninsula is about 30 miles from Kendal, the major towns of the "South Lakes" and junction 36 of the M6 motorway.

DESCRIPTION
The building itself is principally on 3 floors (plus basement) and is of red brick traditional construction with a pitched tiled roof. The building fronts a pubic highway on 3 sides with the rear being next to a pair of 2 storey dwelling houses.

Intenally, the property comprises on the ground floor, 2 bars, a lounge, games room and dining room and there are 22 fully refurbished, ensuite bedrooms on the upper floors. The total gross internal accommodation is 12,000sq ft (1,100sq m) or thereabouts with a site area of 0.15 acres. At the rear there is a small yard with covered smoking area and rear garden.

We are advised that all 22 bedrooms are let on long term weekly contracts at £75 per week, bed only, a gross income of £86,000 per annum.

TENURE
The property is we understand freehold and is let on a 20 year full repairing and insuring lease from 1st October 2003 to Mortame Leisure Limited, at a current rent of £75,000 per annum subject to review every 5 years of the term with, we understand, a minimum up-lift in line with the Retail Price Index (RPI). We further understand that there is a personal guarantee on the lease.

RATES:
Rateable Value: £18,700
RatesPayable: £8,639.210 per annum(2008/09)

TOWN PLANNING
We understand the property has got a current and valid planning permission for its existing use and furthermore is not affected by any redevelopment proposals.

PURCHASE PRICE
Offers in the region of £800,000.00 (EIGHT HUNDRED THOUSAND POUNDS) are invited for this valuable freehold interest.


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