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Gloucestershire Business News

£1.45m hotel at Gloucester Docks for sale

The UK's largest cruising riverboat hotel, which is based in Gloucester Docks, is up for sale for £1.45 million.

The 88ft Edward Elgar, which has three decks and can sleep 22 guests, takes passengers on cruises along the River Severn and Sharpness Canal.

The vessel and the company which owns it, English Holiday Cruises, are being marketed by agents Colliers International.

Peter Brunt, director of Colliers, said: "The Edward Elgar is a truly unique hotel boat which is 4* 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 present owners now wish to retire, after creating the successful business that operates today. 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."

The Edward Elgar - named after the English composer - currently offers six different fully-catered river cruise options, ranging from a two-night weekend break to a six-night cruise of more than 100 miles.

Richard Clements, director of English Holiday Cruises, said: "It's going to be a wrench to sell the Edward Elgar after spending the past 15 years turning her and the business into such a memorable and viable cruise holiday operation.

"However, my wife Judith and I have decided it's time to retire, and we believe that there is huge potential for a new owner to build on the solid foundations we have laid and further develop this already flourishing business. A new owner will benefit from the expertise of our loyal staff and a comprehensive suite of operating systems."

Launched in 2000, the Edward Elgar was custom-built to maximise the potential of her cruising route on the River Severn. She has full headroom throughout, unlike a narrow boat, yet she can fit into the smallest lock on the route and her wheelhouse can fold flat for the lowest bridge on the route, at Worcester.

A five-year programme of equipment and hotel improvements has recently been completed, and accommodation comprises 11 twin cabins with natural light, air conditioning and 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. There is also a well-equipped galley and an on-board linen room, plus cabins for the skipper and four other crew members.

Mr Brunt said that the asking price of £1.45m reflects the strong cash flow generated by the business, the excellent condition of the vessel and extensive goodwill, with a very high level of forward bookings, currently worth over £500,000 for 2020.

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