Prestwich hotel on the market for £3.25m
The property stands on a 1.5-acre site off Bury New Road, next to the town’s golf centre.
Property consultant WT Gunson is the sole agent for the Fairways Lodge Hotel. The agents are asking for offers in the region of £3.25m, which reflects a net initial yield of 8.7%.
The Prestwich hotel currently features 40 bedrooms, conference and banqueting facilities, as well as a restaurant, leisure centre, and bar across two floors.
Externally, there is a large car park with 100 parking spaces.
There is an existing tenant who currently occupies the site, paying a rent of £300,000 per year.
Prime for redevelopment, vacant possession is available to allow for the land’s complete regeneration. Two draft residential schemes have already been drawn up for the site to deliver up to 30 homes.
They will never get that for that hotel it’s a dump
By Anne
Needs to go ASAP! As a previous local resident who lived close by for 35 I remember it being built in 1981. Even worked here and agree it is indeed a dump. The noise from loud all night parties as well as pissed up prats kicking off was utterly disrespectful. Car alarms going off all the time, speeding cars up and down George Street…its just a magnet for scummy car thieves!
DEMOLISH IT ASAP!
By Dave Ashworth