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.
