This is an excellent opportunity to purchase the leasehold agreement from the current tenant of the Three Star, Spa Hotel at Tees Valley Airport. The lease runs until 2014 and the tenant has intimated that the freehold owners are prepared to either re-negotiate a longer lease or possibly sell the freehold for the hotel.

The hotel was established over twenty years ago and is located within a two minute transfer of the Tees Valley Airport terminal and benefits from both local contractor bookings and from airport passengers, who normally use the hotel as an overnight stay with the added bonus of holiday parking packages available with big savings for their vehicle.

The hotel is leased as a fully functional and completely furnished business with a professional kitchen, a French Style Bistro and a fully licensed bar. The upkeep of the hotel is the responsibility of the tenant.

This is a busy hotel and there are excellent opportunities for an owner/manager to raise the hotels profile and take advantage of the existing facilities that are on offer. The current tenants have suggested that they have not realized the full potential of the hotel and wish to move back to the area in which their friends and family live.

The hotel has a large car park on three sides of the building. There is a reception area and there are nineteen en-suite bedrooms. The tenants have permanent use of a double bedroom.

There is a breakfast room/ bar lounge and a large restaurant with further bar area which can also be used for functions. The commercial kitchen is fully functional will all the equipment that you would associate with such an establishment including cookers, fridges, freezers, microwaves etc.

The lease per annum is £32,500 with rates of £.,… The freehold owners are prepared to negotiate a new lease term that currently runs until 2014. Alternatively there is the possibility to purchase the freehold of the hotel.

The owner took on the lease and running of the hotel with his business partner who has subsequently relinquished his share of the partnership. The owners wife has stepped in to help run the hotel, although their house and home is in the Manchester area and they are finding the commuting too demanding and so wish to sell off their leasehold agreement.

The tenants realise that the room rates could rise and that they could take greater advantage of the large car park and advertise their parking facilities. The hotel has normally 10% spare capacity during the week and is quiet on Sunday nights with the restaurant being quiet on Friday, Saturday and Sunday evenings.

The lease per annum is £32,500 with rates of £.,…

The owners would be happy to help with a smooth transfer of the hotel in any way possible.