Lawrence Wright. Specialist Hotel Agent. 01747 228941
Prominent Sea Front Guest House
Situate and Know as
The Valentine UNDER OFFER
1 Waterloo Place
5 En Suite Letting Bedrooms incl. rare Ground Floor Room + 3 Private Top Floor Bedrooms with 2 shower rooms. Sea View Dining Room and Lounge; Private Sitting Room; Kitchen; Office; Laundry/Shower Room; Front Garden and Stores; Rear Courtyard with Store.
T/O £61,664 from easy hours New 60 Year Lease Available
Situation and Description: The property is Grade II Listed and is well located in Waterloo Terrace which is close to the beach and in a prominent position for passing trade within walking distance of the town centre, ‘bus and railway stations. The property benefits from gas fired central heating to all but the top floor. The guest house is offered in good decorative order. Because the property is located early in the terrace the front guest rooms have a superb view of the sea. Upper rear rooms have views to the Dorset Hills. The property is located on the corner with Lennox Street and adjoining is a convenience store – very handy. There is guest WiFi.
Weymouth was established by George III as a fashionable resort and since the 18th Century the area has been renowned as a holiday centre. Weymouth provides the more classic seaside leisure and tourist related facilities, whilst visitors can visit nearby Portland for informal, specialist diving and sailing pursuits – the new seven million pound National Sailing Academy is going strong and was the venue for the sailing Olympics in 2012 – this exposure will bring visitors for years to come. Major International Sailing Events now include Sail for Gold and the new European Sailing Cup. Inland, the attractions of Dorset including ‘ Hardy Country ‘ bring people back to this region year after year. Weymouth attracts in excess of 2.5 million tourists each year and recently the area has experienced an injection of hundreds of millions of pounds on various projects including a new 600 berth marina; a new road linking the A35 to Weymouth; Osprey Quay at Portland: the conversion of the navy quarters to private housing (500 plus units) and commercial development. The Weymouth and Portland Council promote many festivals throughout the year including the International Kite Festival, The International Military and Veterans Festival and dozens of other events centred around the Harbour, Beach and Pavilion.
Dining Room with wooden tables and chairs to provide 12 covers. A spacious room with lounge seating and a bay window overlooking the sea.
Bedroom 1 – Double – A large room with en suite Bathroom with bath and ‘telephone’ style shower, wash basin and w.c. This room is used by the proprietors in the quieter months.
Lower Ground Floor
Hallway/Office with under stairs storage/linen store.
Living Room with Dining Area. Walk in cupboard with radiator. Door to front light well ‘garden’ with under pavement stores.
Kitchen with 5 ring gas cooker, extractor hood, double bowl sink, base units etc. Wall mounted gas boiler ( 3 years old) New hot water tank.
Inner Hall with private door to Lennox Street. Door to rear courtyard.
Laundry with washing machine and dryer. Shower unit, wash basin and w.c.
Bedroom 2 – Four Poster Double with bay window and side window with sea views. En suite shower room with shower, wash basin and w.c.
Store off landing.
Bedroom 3 – Double with rear view bay window with views to Dorset hills.
Bedroom 4 – Double with bay window and side window with sea views. En suite shower room with shower, wash basin and w.c.
Store of landing.
Bedroom 5 – Twin with rear view to hills. En suite shower room with shower, wash basin and w.c.
Third Floor Heated by independent electric heaters. This floor is used privately and can be made more securely private with a partition and door on the landing ( subject to Listed Building and Landlord’s consent). Alternatively, these rooms could be used for letting or as a ‘granny flat’.
Bedroom 6 – Double sized room – this room is used by the proprietors in the busier months. Sea Views. En suite shower room with shower, wash basin and w.c.
Bedroom 7 – Small Single Room.
Bedroom 8 – Twin Room with rear view.
Shower Room for Bedrooms 7 and 8 with shower, wash basin and w.c.
Front – Light Well laid out as garden with under pavement stores. In other guest houses, these stores have been tanked and used for laundry room etc.
Rear – Enclosed small courtyard and store.
The Business: A well run bed and breakfast guest house which is highly regarded on Tripadvisor. The business is run by a husband and wife team and is now available due to retirement – there will be no onward chain. The business is busy in the summer months and the proprietors take holidays in the quieter periods. No children are catered for.
This property is rare as the top floor is currently privately used and could be a ‘granny flat’ – and there is a ground floor room which is already used in the winter months – there is a lot of flexibility.
Turnover: The most recent figures available are 2017 and the agents have seen accounts showing £61,664 for the year which after taking into consideration personal and excess repair costs shows a reconstituted net profit of approximately £20,000 p.a. – this is achieved from only 5 double or twin rooms – these are large rooms and could be furnished for families if required and a higher tariff charged.
Tenure: The property is held under the terms of a full repairing and insuring lease which the agents are informed will be renewed for buyers to a 60 year term. The current rent is £13,100 per annum. The business is exempt from paying business rates as the Rateable Value is below £12,000.
Fixtures, Fittings, Furniture and Trade Equipment: An inventory of trade contents is included in the sale price. A detailed inventory will be prepared at a later stage.
Viewing: Strictly by appointment with the agents.
The accuracy of these particulars is not guaranteed by the agents nor do they form part of any contract. Applicants should verify details by personal examination and enquiry. Items of furniture, fixtures, fittings and equipment are mentioned for illustrative purposes only and do not necessarily form part of the Trade Inventory referred to above, neither has the agent tested any equipment, fixtures, fittings or services and so cannot verify that they are in working order or fit for the purpose. References to the Tenure of the Property are based on information supplied by the Vendor. The agent has not had sight of the title documents. A buyer is advised to obtain verification from their solicitor.
You are advised to check the availability of the property before travelling a long distance to view.