Register to get 1 free article
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
The largest cruising riverboat hotel in England and its operating company has been brought to the market for £1.45m.
The 88ft Edward Elgar, which has three decks and can sleep 22 guests, is based in Gloucester docks. The vessel and the English Holiday Cruises company, which owns and operates the boat, are being marketed by the hotels team of real estate advisor Colliers International.
The Edward Elgar – named after the English composer – currently offers six different fully-catered river cruise options over a season which runs from the end of March to the beginning of November, ranging from a two-night weekend break to a six-night cruise of more than 100 miles.
A five-year programme of equipment and hotel improvements has recently been completed, and accommodation comprises 11 twin cabins with en-suite shower rooms.
Public space comprises a restaurant for up to 36 people, a bar with an all-day premises licence for residents, direct access to the fore deck, and upper viewing and games deck above the restaurant.
Peter Brunt, director of hotels agency, said: “The Edward Elgar is a truly unique hotel boat which is 4 star rated by Visit England and the company enjoys Tour Operator/Principal membership of ABTA. They offer a range of complete holiday packages and receive superb reviews from guests, with high levels of repeat bookings.
“The reason an opportunity has arisen for a new owner to take the helm, so to speak, is because the present owners now wish to retire after creating the successful business that operates today.”
He added: “They bought the business in 2004, having recognised the huge potential, and have identified scope for further expansion by a new owner of what has become a robust and reliable holiday business.”
In addition, Brunt said that the price of £1.45m reflected the “strong cash flow” generated by the business, the “excellent condition” of the vessel asset and extensive goodwill, with a high level of forward bookings.
“Our clients’ strong preference is for a sale of the shares of English Holiday Cruises Limited including the benefit of deposits paid for 2020 bookings currently worth over £500,000,” he said.
