Gaffbee Commercial · Leisure and hospitality property
Hotels, gyms, event venues, holiday and visitor businesses — with trading context, size and tenure on every listing.
Leisure assets are usually valued on what they trade, not just the bricks. Where a business is included, expect to review accounts, staffing and any licences before agreeing a price.
A leisure sale can be the property alone, a going concern including goodwill and fixtures, or an investment let to an operator. Each is valued differently — going concerns are commonly assessed on a multiple of adjusted net profit.
Premises licences, late-night refreshment, entertainment and any pool or spa certification transfer separately from the property. Confirm what is in place, what it permits and what hours it covers before exchange.
Many leisure businesses earn most of their margin in a handful of months. Look at monthly trading rather than annual totals, and stress-test whether the rent or mortgage is serviceable in the quiet period.
Typically on a multiple of adjusted net operating profit, cross-checked against a capital rate per bedroom or per sq ft. Vacant possession value is usually lower than the trading value.
Not always, but lenders usually want to see relevant operating experience or a credible manager in place before funding a going concern.
Premises licences attach to the property and can be transferred, but a personal licence holder must be named as designated premises supervisor where alcohol is sold. Apply early — transfers take time.
Commercial property sales can attract VAT where the seller has opted to tax. Where a trading business transfers as a going concern, the transaction may qualify as a TOGC and fall outside VAT. Confirm with your accountant.
