Description
9 Letting Bedrooms (6 en suite, 3 rooms share 2 shower rooms);
From choice only 5 Rooms are used thus all have own facilities & these achieve an informed turnover of approx. of £80,000 p.a.
Owners’ Self Contained Accommodation
Courtyard Garden with Shed with direct access to the Harbourside
Now providing popular and easily managed ‘room only’ offering
This Grade II Listed property is located in an ideal position, opposite The Pavilion Theatre and very close to the beach where many events are held each year. The property has been greatly improved by our clients and with sea views at the front and harbour views at the rear all guests have stunning views from their bedroom. There is gas fired central heating. The reviews reported on Booking.Com rate the business at 9.2 – ‘Superb’; TripAdvisor rates the business as ‘Excellent’ with 140 of 146 reports Excellent or Very Good.
This business benefits from the large investment the owners have made over the past few years including a general refurbishment and re decoration of all areas and in particulars the letting bedrooms where there are new beds, new wash basins, ‘fridges in all rooms, usb points and many pretty fireplaces have been discovered and re-opened. The owners have made a very low cost agreement for supply of gas and electricity for 5 years from May 2023.
Tenure: The agents are informed that the premises are held under the terms of a 35 year full repairing and insuring lease which commenced in 2007 at a current rent of £14,750 p.a with provision for 3 year rent reviews.
The Business – A well respected guest house which has been run until recently as a traditional B&B, but has now converted to providing room only with no continental or cooked breakfast. The change has proved popular and tariffs are now at an all time high of approx. £100 – £120 per room per night. The proprietors provide fridges in all rooms with pastries and yoghurt etc. and the location so close to the harbourside and town makes for an easy stroll for a leisurely breakfast. The property is positioned in an enviable spot opposite the Pavilion ideal for holiday makers, but also in an area favoured by commercial guests and sea anglers. The business is run by a couple who have invested both time and money into the property since taking over in Aril 2019 via Lawrence Wright and have raised the standard which is evidenced by the rise in the Booking.Com approval rating increase from 8.7 to 9.2.
The change to ‘room only’ has freed up time for the owners so that one of them is able to develop a new business which is the reason for sale
The agents are informed that turnover is currently approximately £80,000 p.a.
Price: Offers in the region of £425,000.
EPC: Exempt
