Bed & Breakfasts for sale in Scarborough

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Ian McGregor (Nov 2013)
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Freehold Price: £460,000 Price Reduced Annual Turnover: £65,000
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Business Description
Advised annual turnover of £65,000 with good gross profits
Thriving business with scope for further improvement
Spacious 1 bedroom private owners' accommodation
Popular coastal tourist destination of Scarborough
Can easily be converted back to two properties
Re-newed multiple occupancy license till 2017
Wonderful town centre trading location
Early viewing strongly advised
Ideal development opportunity
15 permanant tenants

Business History

Meridian Business Sales are delighted to offer to the market this superb and spacious 26 letting room hotel with 1 bedroom private accommodation which has been established for 50 years and has been in the capable hands of our client for the previous 10 years. The only reason this superb opportunity is being made available is so our client can relocate overseas. Since owning the business our client has and continues to invest heavily on the premises to the point that they are in full walk-in condition for any prospective purchaser. We are advised of an annual turnover of £65,000 with good gross profits which are derived from the letting of our clients beautifully presented guest rooms. Our client also benefits from a contractual arrangement with the local authority which brings in a substantial and regular income added to 10 permanent residential lettings within the hotel. Our client has a wonderful reputation and benefits from a high percentage of repeat and regular visitors. Our client currently has 15 permanent tenants. There is great scope to further increase turnover as the business is now run at a pace to suit our client's lifestyle, a more aggressive marketing strategy for example could prove to be beneficial as only limited advertising is currently employed. This is a wonderful opportunity to purchase a thriving business in a superb trading location and as such early viewing is highly recommended as this business is not to be missed.
Tenure: Freehold

Accommodation Details:

Substantial 26 letting room hotel, formerly 2 buildings converted to one property in superb trading location approximately 2 minutes from the town centre, briefly comprising: Ground Floor Twin secure entrances leading to reception area, beautifully presented residents lounge and bar, 2x family rooms with en-suite, 1x standard family room, 1x standard double room, 1x single room with en-suite, stairs to basement dining room and a twin staircase leading to first floor. Basement Superbly presented split level dining area with breakfast serving area, pool table, 2x spacious kitchens, access to rear yard and front gardens plus owners' private 1 bedroom accommodation with lounge and private bathroom. First Floor 4x communal toilet facilities, 2x family rooms with en-suite, 2x standard single rooms, 2x standard family rooms and twin staircase leading to second floor. Second Floor 2x double rooms with en-suite, 1x standard single room, 1x standard family room, 2x standard double rooms, 1x family room with en-suite, 1x standard twin room, communal shower room and twin staircase to third floor. Third Floor 3x standard double rooms, 1x toilet, 1x toilet/shower room, 2x double rooms with family living room annex (4 rooms in total) and 1x family bathroom. External Rear yard with 2x garages and garden to front.

Location Details:

This superb 26 letting room hotel with 1 bedroom private accommodation is located within a 2 minute leisurely walk of Scarborough town centre. It is surrounded by complimentary businesses providing wonderful opportunities for passing trade. Scarborough is a town on the seacoast in North Yorkshire. It is best known as a popular tourist destination with beautiful sandy beaches and a multitude of attractions it is widely recognised as the largest holiday resort on the Yorkshire coast and is affectionately known as 'Heartbeat Country' made famous by the popular ITV drama. Scarborough is reached easily via the A165 coast road linking the town with nearby Whitby and Bridlington, the A64 provides access to York and further access to the UK's wider motorway network via the A1 and M1.

Listed by: Meridian Business Sales Limited
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