Business opportunities as two Wisbech hotels go on the market

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WISBECH’S Rose and Crown Hotel has gone up for sale, just a couple of weeks after going into receivership.

Agents Colliers have listed the town centre coaching inn as offers in the region of £500,000.

The hotel, which had been owned and managed by Jonathan Davies until going into receivership, is described in the brochure as a “landmark hotel”.

It is Grade II listed, with 29 en suite bedrooms, a hotel bar, restaurant, first floor Mitre function room which holds 40 and the Trumpet Hall function room which holds 180. It also has an ample car park and the separate Tidnams bar, which has remained open and is being operated under a management contract.

The hotel does need refurbishing and investment, but the brochure adds: “There is no doubt that there are significant opportunities within the area to win commercial and leisure business if the hotel is correctly positioned within the market.”

The White Lion Hotel, on Wisbech’s South Brink, has also gone on the market with Colliers, with an asking price of offers around £450,000.

The 13-bedroom Georgian hotel was previously run by Jonathan Davies, whose lease on the hotel ran out in December. The owner, who bought the hotel in 2003, has now decided to sell the business.

The three-storey hotel overlooks the River Nene and has a restaurant, bar, meeting room and a function suite which holds 120 people.

There is a limited trading history available for the hotel, which shows the turnover from year end October 31, 2008, shows £206,216 net.