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The 10-bedroom Museum Hotel in Oxford city centre has been brought to market with a guide price of £2.75m.
The historic property, built in 1594, trades as a prominent high street hotel, and is positioned on St Aldates in the heart of Oxford city centre.
It offers 10 en-suite, air-conditioned bedrooms, all equipped with modern amenities including keyless entry, flat-screen TV, Bluetooth speakers, Wi-Fi and work desks.
The property also contains two lounges where guests can relax, one of them still having a 16th Century original fireplace. The sale also includes the ground floor and basement, which is currently rented out as a retail unit to betting company Ladbrokes, generating additional income of over £50,000 a year.
The business is owned by Zeshan Shah, who purchased the property in 2013. Throughout his ownership, Shah said he has invested time upgrading the establishment, converting the upper floors to provide 10-letting bedrooms as well as transforming the property to become the first hotel in the UK to provide keyless entry.
The hotel opened its doors to the public in 2017, and now offers a virtual check in, reception free and limited-service experience, where it has been set up to be easily managed remotely.
Shah said: “You’ll be surprised to know that I was not a hotelier prior to purchasing 107 St. Aldates, with my main profession being a Geologist. Nevertheless, I greatly enjoyed renovating the hotel, it was exciting to have a side project to focus on. It was important to me to be innovative and to appeal to a new generation.
“We have minimal on-site staff but the idea was to provide a virtual, one of a kind experience. However, after six successful years, I have decided it’s time for me to move on.”
Peter Brunt, director in the Hotel Agency team at Colliers, who is handling the sale, said: “This is an excellent opportunity for any investor looking for a hotel in a prime trading, city centre location.
“The business has consistent revenue with visitors all year round, as well as having a significant added monthly income from the retail unit downstairs. Furthermore, The Museum Hotel offers alternative use potential because it also has planning consent to be converted into three self-contained flats.”
