Description
8 Luxury En Suite Bedrooms; Guest Lounge; Owners Ground Floor Accommodation; Sea Views from Upper Rooms
VISIT ENGLAND FOUR STARS; GOLD AWARD & BREAKFAST AWARD; 2023 ROSE AWARD
Possible Holiday Home Investment (stpp)
A beautifully presented Georgian Grade II Listed Property which is perfectly situated overlooking Alexandra Gardens and the sea on the famous Esplanade. The property has gas fired central heating and the owners’ accommodation is conveniently located on the ground floor to the rear of the dining room and kitchen. All rooms have flat screen TV’s with DVD Players, Refrigerators, Coffee Machines, Molton Brown Toiletries, Dressing Gowns and Slippers. There is a comfortable guest lounge and the premises are within a few minutes walk from the town centre and harbourside with its many restaurants, cafes and pubs. A public car park is a short distance away.
The Business – a high quality and rare seafront freehold bed and breakfast guest house which has been in the present hands for over a decade and a half and is run by a husband and wife team. Before the covid pandemic the turnover had been consistently around £110,000 p.a. ex vat. However, due to ill health of one of the owners the business has been restricted running on 7 of the 8 bedrooms with no staff and booking fees but profits averaging in excess of £1000 per week. Hence a loan to purchase would be available, subject to status.
The agents believe that the business is at a pivotal point depending on the requirements of the purchaser;
- For The Entrepreneur – traditionally the guest house has opened for much of the year, closing in the quieter period for a few weeks for holidays but supported all year by trade from business people – new owners could quickly rebuild this style of trading including increased tariffs to achieve substantial income.
- For The Lifestyle – with the recently increased VAT Threshold of £90,000 trade could continue to be restricted to this level and longer periods of holiday enjoyed.
The trade is a healthy mix of discerning tourists and business people who pay up to £185 per room per night to be in a luxury guest house convenient for the harbourside restaurants nearby; a limited number of parking permits are available from Dorset Council. The owners are selling due to health problems.
The property would equally be suitable as a holiday home investment (subject to planning permission)
Price: £650,000 Freehold
EPC: Exempt
Finance: A Bank or Building Society mortgage to purchase would be available, subject to status. Lawrence Wright is an Introducer Appointed Representative to a Financial Conduct Authority authorised firm of commercial finance brokers.
