Flude Conclude Letting of 22 Bedroom Carlton Hotel
Tuesday 20 June 2023
Flude Property Consultants have just concluded the letting of the 22 bedroom Carlton Hotel in the West Sussex seaside resort of Bognor Regis.
The seafront hotel consisted of 22 bedrooms, a large bar/restaurant and south-facing terrace. A new lease was agreed with a local operator.
Director, Will Thomas, commented, “I was happy to be able to assist the clients with this letting, who unexpectedly had the property returned to them and discovered it needed some extensive repairs. The clients had feared they would have had to wait for the repairs to be completed before they could market the hotel, and that they would likely lose any opportunity in getting the hotel occupied this year, given any incoming operator would most likely seek to delay completing over the winter.
I suggested I speak with a number of known operators, to see if we could generate any early interest whilst the works were underway; these conversations resulted in two offers and a new lease was completed earlier this month. In the end, the tenant was ready before the works were completed. This approach has saved our client a significant period of lost rental income and business rate liabilities”.
If you own a hotel and seek any advice on how to best let or sell your asset, no matter at what stage of the process you are in, please do get in contact for a confidential chat, as this letting just goes to show that actions now can save significant time and cost in the future. Please call Will Thomas on 01273 727070 or email w.thomas@flude.com.
