Multi-award winning hotel and restaurant

Title:

Multi-award winning hotel and restaurant – Chilgrove, Near Chichester, West Sussex

Overview of business/asset:

The Fish House Hotel & Restaurant, Chilgrove, Near Chichester, West Sussex, PO189HX Multi-Award winning "Trophy" asset; Highly successful profile with an established quality Food & Beverage business; 100 cover Restaurant and Fish Bar with "al fresco" seating for 80; 15 elegantly styled guest bedrooms; AA 5 Star Restaurant with Rooms & AA 2 Rosettes for food quality (2011)

Turnover: Sales - £1.56m & EBITDA - £318k

On the instructions of Chris Stevens & Ian Vickers of FRP Advisory LLP, Joint Receivers and Joint Administrators of: The Fish House Hotel Limited (in administration); The White Horse, High Street, Chilgrove, Chichester (in Receivership). 

• Multi-Award winning "Trophy" asset
• Highly successful profile with an established quality Food & Beverage business 
• 100 cover Restaurant and Fish Bar with "al fresco" seating for 80
• 15 elegantly styled guest bedrooms
• 2010 - Sales £1.56m & EBITDA £318k
• 2011 Forecast - Sales £1.55m & EBITDA £375k
• AA 5 Star Restaurant with Rooms & AA 2 Rosettes for food quality (2011)

Guide Price: Substantial offers on £3m freehold, as a trading business. 

Property

The Fish House is a character Grade II Listed Sussex flint and red brick property dating back to approximately 1750. The property re-opened in 2009 following an extensive refurbishment programme having been converted from its former origins as The White Horse.  In the short time the Fish House been opened, the business has received a well deserved reputation with many industry accolades.  The Fish House has redefined culinary excellence across the south and brought luxurious overnight accommodation to the rolling countryside of Sussex. 

The business is quite unique having quickly become a destination venue that has been recognised as an "oasis" for an award winning dining experience, and self-indulgent relaxation, on the outskirts of Chichester and close to the Goodwood Estate, a popular event venue hosting many legendary motor and horse racing events.  To summarise, The Fish House is elegant, sophisticated and beautiful, yet with refreshing simplicity. 

The accommodation is spacious and the ground floor public areas are adorned with contrasting linen and drapes, art work with bespoke hand made oak furniture.  

Externally the gardens have been extensively landscaped with terraced areas, seating about 80 "al fresco" diners.  The gardens are a particular feature with private hot tubs set in secluded areas together with steam and sauna rooms for guest's exclusive use.

Situation

The Fish House is prominently located on the B2141 in Chilgrove, a pretty hamlet on the outskirts of Chichester (7 miles) and close to the Goodwood Estate (6 miles) with Petersfield (9 miles) to the North and located within the heart of the South Downs National Park. 

Chilgrove is a small village on the B2141, comprising a small number of houses set within attractive countryside with The Fish House being the focus of the village.  The village nestles in the southern slopes of the South Downs Way, in an area of Outstanding Natural Beauty. 

Located on the outskirts of Chichester and Goodwood, The Fish House is also close to several of the regions major employers including: Rolls Royce Headquarters and The Body Shop.  Other interests in the area include notable towns steeped in history to including Arundel, many tourist attractions and interesting places to visit on the South Coast.

Accommodation

Ground Floor - Entrance Vestibule opening into Oyster Bar seating 20 with impressive glass fronted crustacean counter and Irish marble topped fitted bar servery.  Comfortably furnished Bar Lounge providing seating for about 15 diners together with a huge French sandstone open fireplace.  Fish Bar with a range of furnishings, seating about 30.  A unique feature is the theatrical fish-tanks through which the mechanics of the kitchen are visible.  Distinctive Restaurant with limestone floor and bespoke hand-made oak furniture with covers for 35 diners although this area will accommodate a maximum of 45 seated for a private dining occasion. 

Hotel reception area with separate access from the garden terrace.  

Ladies and Gentleman's Cloakroom/WC and Disabled facility.  

Outside terrace and garden areas with "al fresco" seating for about 80. 

Ancillary Areas

Commercial Kitchen fitted with a comprehensive rage of stainless steel equipment with hot kitchen including 10 Adande refrigeration units, 4m Bonnet Optimum 700 island suite with Trivent ventilation canopy, preparation area, pastry kitchen and wash-up.  

Temperature controlled red and white wine storerooms, basement cellar and dry food store. Two external walk-in cold rooms and one walk in freezer room. 

Staff changing room with lockers and WC.   

Laundry Room.  Boiler Room.  Administration office.  Enclosed courtyard with refuse area and trade deliveries entrance. 

Owners/Managers Accommodation

Arranged on first and second floor levels with two double bedrooms and one single.  Shower room/WC. 

Letting Accommodation 

The Fish House provides 15 elegantly styled guest bedrooms all with luxury en-suite facilities.  The bedrooms are all named after a famous fishing ports and finished to the very highest of standards, arranged as follows:

• Main Building: 2 double bedrooms (Newlyn & Brixham)
• Oak Barn: 5 double bedrooms (Killybegs, Cancale, Padstow, St Malo & Fleetwood)
• Annexe: 8 Double bedrooms arranged with six ground floor rooms (Whitstable, Galway, Carlingford, Skye, Salcombe & Mevagissy) and two on the first floor (Roscoff & Whitby).

The rooms are alive with natural light and the refreshing feel of furniture from Asia.  Each room is equipped with a 42 inch plasma television, espresso machines, mini-bar and luxurious bathrooms.  Two bedrooms (Whitstable & Killybegs) also have their own enclosed private terrace and hot tub.

Private hot tubs are to be found in a secluded area of the landscaped grounds together with a sauna for guest's exclusive use (subject to planning permission).  

The hotel car park is approached off a private lane. 

The gardens and grounds have been extensively landscaped providing secluded areas with tables and chairs for "al fresco" dining.  A Citroen H Van is carefully positioned serving fish barbeques when the weather permits.

Since re-opening the business on May 2009, The Fish House has been rewarded with many well deserved industry accolades and is recognised as one of the areas most popular destination venues.  

The business has been categorised, as follows:  

• AA 5 Star Restaurant with Rooms
• AA 2 Rosettes for food quality (2011)

The hotel and restaurant is now operated under the guidance of the Administrators, Chris Stevens and Ian Vickers in conjunction with a structured management team. The Administrators are acting as Receivers over the freehold property.

We believe The Fish House represents an excellent opportunity for a new owner to fully benefit from the extensive refurbishment to increase future trading potential. 

2011 Tariff Rates & Menu Prices 

• Restaurant/Fish Bar – average prices.
  • A la carte menu – Starters £7.50, Main Course £16 & Deserts £6.50.
  • Lunch menu – Light Bites £7.50 and Open Sandwiches £8.50. 
• The bedrooms are divided into two categories.
  • Luxury Rooms – Mon- Thursday £120 / Friday – Sunday £160.
  • Luxury Spa Rooms – Mon- Thursday £150 / Friday – Sunday £210.
• Average Room Rate - £85.10.
• Occupancy - 80%.
• RevPAR - £81.13.

Website – http://www.thefishhouse.co.uk/ - we are advised February 2011 statistics reveal a 10% increase in "web traffic" on PY.

Trading Information 

Historic financial trading information will be provided to genuine parties on receipt of a signed Confidentiality Agreement.   

• Revenue to y/e July 2010 - Sales - £1.56m & EBITDA - £318k

• Forecast revenue to y/e July 2011 - Sales - £1.55m & EBITDA - £375k

No guarantees or warranties will be given regarding the accuracy or completeness of any information provided and purchasers must satisfy themselves as to the accuracy and completeness. 

Fixtures and Fittings

An inventory will be provided within the Information Memorandum. 

Licenses

The property has a Premises Licence granted by the relevant local authority.  It is a requirement of the Licensing Act 2003 that properties serving alcohol have a designated premises supervisor who must be the holder of a Personal Licence.  Prospective purchasers are advised to take appropriate specialist advice. 

Services

We are advised mains electricity and water are connected.  Recently installed private drainage system, oil fired central heating boilers with two storage tanks and three LPG storage contained supplying the kitchen. 

Fire Risk Assessment

In accordance with the Regulatory Reform (Fire and Safety) Order 2005, we have assumed that an adequate Fire Risk Assessment has been carried out where there are more than five people employed within the business.

 Business Rates

The Rateable Value is £56,500 for the year commencing April 2010.

Viewing

No direct approach may be made to the business.  For an appointment to view the premises, please contact the Administrator's appointed agents Christie + Co:

Ed Bellfield, Director
Christie + Co
Star Lane House
Staple Gardens
Winchester
SO23 8SR

T: 01962 844455
E: ed.bellfield@christie.com

Disclaimer
This information is communicated as a guide to assist recipients in deciding whether or not to investigate the above opportunity. It is not intended to form the basis of any transaction. Recipients must make their own independent assessment of the opportunity and should obtain independent professional advice. The above information has been provided by the directors of the company and neither they nor FRP Advisory LLP give any representation or warranty (express or implied) as to its accuracy or completeness.

In the event the sale is via an insolvency process, the Joint Administrative Receiver/ Administrators act as agents of the Company without personal liability.