Description
12 En suite Letting Bedrooms; Dining Room for 34; Breakfast Preparation Room; Substantial and Newly Equipped Catering Kitchen; Laundry; Private Lounge/Diner; 3 Private Bedrooms; Family Bathroom with Bath and Shower Cubicle. Rear Parking Space; Garage Parking nearby(rented).
The property is located within easy reach of the Town Centre and all amenities with many rooms with sea views.
The guest house is Grade II listed, is located close to the end of the terrace, and benefits from central heating with two boilers for central hearing and third for hot water. Recently, the main kitchen has been refitted with stainless steel work surfaces, new cooker, extraction fan etc.
Tenure: The premises are held under the terms of a 60 year full repairing and insuring lease which commenced in 2007 at a current rent of £23,500 p.a. with 5 year rent reviews.
The Business – A traditionally run small licenced hotel which provides bed and breakfast and the option of an evening meal (except in August). The business has been in the present hands since 2003 and is run a by a husband and wife team with staff and is now available due to retirement.
The agents have inspected the accounts for the most recent pre-covid year to 31st December 2019 and a turnover of £146,178 excluding vat was achieved with a reconstituted net profit of approximately £60,000 p.a.
Post Covid the turnover has increased to approx. £177,000 p.a. ex vat but the owners have now curtailed the opening to six months per annum but new owners can trade for the 8 busy months plus winter trade in Weymouth is available as the town has excess 50,000 population and visitors for walking, commerce, sailing etc.
Business Mortgage – The property is held on a secure long lease and together with substantial profits allows a buyer to obtain a loan to purchase (subject to status) – speak to Lawrence Wright an Introducer Appointed Representative to a Financial Conduct Authority authorised firm of commercial finance brokers.
EPC: Exempt
Price: £395,000
