Riverside hotel and business up for sale for £1.1m
PUBLISHED: 15:55 10 January 2020 | UPDATED: 15:55 10 January 2020
The Sutton Staithe Hotel
A north Norfolk hotel business and property is being sold by its owner after 40 years for £1.1 million.
The Sutton Staithe Hotel on the Norfolk Broads has been owned by Barry Tunmore since 1979 - but the businessman says it's time to hand over the reins.
However Mr Tunmore says he will only sell to the right sort of buyer - and would like to see an independent owner or family take on the project.
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He said: "I own four other pubs which are all much closer to where I live. The Sutton Staithe Hotel is a good business but it doesn't have that personal touch. Even though it has a really good manager I'm not up there a lot and I think it needs that hands-on element."
Mr Tunmore's business Tunmore Automatics also owns the Kings Head at new Buckenham, the Garden House in Banham, the Fighting Cocks at Winfarthing and the Jolly Farmers at Forncett.
The business's turnover is in the region of £750,000 - but Mr Tunmore says this has been lowered in recent years due to the rise of Tesco.
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"We used to have a lot of people would stop off at the pub for a drink and some food because we're on the waterfront. But now they can get it delivered to them and they just get off the boat to collect it and then back on," he said.
"So what it needs is someone who's going to focus on the restaurant element to bring people back."
The site hosts a bar and restaurant as well as a games room and function room.
It also has 11 recently refurbished en-suite bedrooms, which cost him around £300,000.
"It is a sentimental business for me," said Mr Tunmore. "I want to sell it to the right person who can give it the energy and passion it needs."
Mr Tunmore is selling the business with the option to keep the 15 members of staff on.
"The manager and staff there at the moment are very good, hopefully the new owner will choose to keep them on," he said.