Hotel for sale

Rooms

Location
The Isle of Man is situated in the middle of the Irish Sea between the coastlines of England, Scotland, Ireland & Wales. The Isle of Man is renowned for its natural beauty and charming countryside. The Island has numerous airport and ferry port connections to the UK and Ireland, making it easily accessible as a leisure destination. The Shore Hotel is located in the south of the island, and is sited on Gansey Bay, with the beach across the road. Douglas is a 30 minute drive away and the bus stops outside the Pub. The main international events associated with the Island are the "TT races". They take place in late May and early June. It has become a festival for motorcycling culture and makes a huge contribution to the island's economy.

Tax Benefits on the Isle of Man
The Isle of Man is a low-tax economy with no capital gains tax, wealth tax, stamp duty, or inheritance tax and a top rate of income tax of 20%. A tax cap is in force, the maximum amount of tax payable by an individual is £200,000. Isle of Man residents are entitled to a tax-free personal allowance.

Business
The ‘Walker and Lagden Families' have successfully run the Shore Hotel, Bar & Restaurant for over twenty years. A family run business benefitting from approximately 70% local and 30% tourist trades. The Bar & Restaurant is open all year and throughout the day, and serves the local trade in addition to residents, with excellent feedback on booking.com. Client's accounts for the years ending 2021, 2022 & 2023 are available to seriously interested parties upon request.

Accommodation

Basement Drinks Cellar

Ground Floor
Authentic appointed Bar and Restaurant with 90 licenced covers, customer toilets and kitchen.

First Floor & Second Floor
Accommodation with five double bedrooms, having bay views. All rooms have modern and stylish en-suite bathrooms. Certain bedrooms have exceptional bay and coastal aspects and one has a fabulous balcony. There are coffee and tea facilities along with ironing board provisions and modern wide screen TV's. There is also a utility with toilet and a kitchen on the first floor.

Fixtures & Fittings
Cellar cooling equipment is installed and maintained by Heron & Brearley. This arrangement could be continued by the new owner. There is no supply agreement. Gaming machine and jukebox are supplied and maintained by Island Automatics. This arrangement could also be continued by the new owner. Inventory to be discussed and agreed prior to sale.

Planning
The property is not a listed building and not in a conservation area.

Licence
A premises licence prevails.

Rates
The Boat House Rateable Value £64.00 Rates Payable (June 2024) £289.77 (inclusive of water rates). The Shore Hotel Rateable Value £344.00 Rates Payable (June 2024) £1557.52 (inclusive of water rates).

Services
Mains water, electricity and drainage are installed. Oil fired central heating.

VAT
All prices quoted and offers made shall be deemed to be exclusive of VAT and VAT will be added where applicable. In most cases VAT is reclaimable. Prospective purchasers should consult their accountant for professional advice in this respect.

Money Laundering
Regulations require us to conduct checks upon all purchasers (including tenants). Prospective purchaser(s) will need to provide proof of identity and residence. For a company, any person owning more than 25% must provide the same.

Agents Notes
OFFERS & VIEWING Strictly by appointment through the Agent, Harmony Homes. POSSESSION Freehold.

Disclaimer
These particulars, although believed to be correct, are for information only and do not constitute or form any contract nor should any statement contained therein be relied upon as a presentation of fact. Neither the seller, Harmony Homes, nor any employee of the firm has the authority to make any representation or warranty whatever in relation to the property and cannot accept liability for any error or errors in the particulars. It is the sole responsibility of any prospective purchaser or lessee to verify the description of the property and make his own proper enquiries, searches and inspection.