Summary - CASTLE HOTEL, NEW PARK STREET SN10 1DS
1 bed 1 bath Pub
**Standout Features:**
- 19 ensuite letting rooms over two floors
- Gross profit of £533,263 and net T/O of £770,740 (as of January 2025)
- Historic 18th Century Georgian architecture
- Welcoming bar, restaurant, and function room
- Central location in the thriving market town of Devizes
- Large property size with additional potential for renovations
**Notable Concerns:**
- Leasehold with 13 years remaining and extreme ground rent
- High local crime rate and area deprivation
- Mortgage lenders may be hesitant due to short lease term
- No insulation and some maintenance issues anticipated
**Summary:**
Step into a remarkable opportunity with this expansive 19-room inn, nestled in the historic heart of Devizes. Rich in character, the property boasts an elegant Georgian facade complemented by spacious public areas including a bar and a versatile restaurant/function room catering to various events. With an impressive net turnover and gross profit, it presents an ideal investment for those looking to capitalize on the vibrant hospitality sector.
Although this leasehold property faces challenges with only 13 years remaining on the lease and a high crime rate in the vicinity, its strategic location amidst Devizes' charming amenities is a significant advantage. The historical and architectural allure of the building not only ensures a comfortable environment for guests but also invites future renovations to elevate its potential. For investors, families, or first-time buyers looking for a conversion project, this is a rare gem that strikes a balance between historic charm and modern potential. Don't miss this unique opportunity—properties like this don’t come around often, and the vibrant market town is waiting for your vision!
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