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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. Equipment: the hotel is fully functional and the current tenants have kept everything in fine working order with good décor and equipment. All the rooms have en-suite facilities, together with tea & coffee making facilities and colour tv in each room there is a full professional kitchen with all appliances and equipment provided to run a busy restaurant. All table, chairs, cutlery, glassware and linen are included in the lease for the hotel together with a fully computerised booking system and functional website. Customer service: being close by to the airport, the hotel runs a 24 hour room service. They have disabled facilities within the hotel including a specifically designed disabled room and pets are allowed in certain rooms. The hotel has a large car park and offers hotel guests discounted holiday parking for their vehicles plus airport transfers on the hotels own mini-bus. Key strengths: the key strength of this hotel is its location close by to both the regions only airport and also close by to the main a66 which links middlesbrough and darlington. The hotel is aimed at the budget end of the market although the hotel facilities are excellent and offer great value for money. Room rates are £32.50 for a single room with a double costing £37.50 per night including continental breakfast. The hotel has all of the current and up to date, council hygiene and health & safety certificates. The hotel attracts a large number of contractors during the week and the bar is normally busy in midweek. They also have become locally known for their sunday carvery with an average 250 diners on a sunday and on special occasions such as mothers day there have been up to 450 diners. The business enjoys an excellent cash flow position. They have continual bookings, well in advance at all times of the year and receive last minute bookings from one of the uk’s largest online hotel booking companies. Growth and expansion: 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.

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