Roker Hotel up for sale for £2 million
The Roker Hotel has been listed for sale for an asking price of £2 million.
The building, situated on the Seafront along Roker Terrace, has long been one of the most prominent hotels in the city, is described by its own website as: “one of longest standing and most loved hotels in Sunderland.”
According to the listing on Rightmove the site has been used for that purpose for 170 years, described as having “Victorian Grandeur”.
Owned by the chain Tavistock Hospitality, the listing claims the hotel has an annual turnover of £2.3 million, although it is not clear what its running costs are.
However, the past few years have marked an extremely difficult period for the British economy, having faced the impact of the covid-19 pandemic and then a surge of inflation from last year which has driven up costs across the board, especially pertaining to food and energy.
This undoubtedly has increased the costs of running any large building, which has already severely undermined the budget of Sunderland City Council due to the amount of properties it has to manage.
Given this, with the listing stating the hotel has been under its current ownership for “20 years”, it is likely financial difficulties are taking its toll.