Guest Houses for sale in Weymouth

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High Quality Sea and Harbour View Guest House

Weymouth, Dorset, England

  • Leasehold Price: £365,000
Seller Reference: H206
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Business Description
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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Seller Reference: H206
Request Details
Business Description
Outstanding Quality; Rose Award**; High Rating on TripAdvisor
6 Double Rooms, 1 Single – all with own facilities
Rare, Long Internal Repairing Lease – The Council are responsible for External Repairs including The Roof and Decoration!
Self Contained Owners 2 bedroom Accommodation
Turnover approx. £80,000 p.a. low booking fees!!

The property forms part of a Georgian Terrace built in possibly the best position in Weymouth to capture the views over the sea and harbour, with the shops, bars and restaurants just a few minutes away. This is one of the former grand residences here which are now run as hotels or guest houses and are Grade II listed. The property has gas fired central heating. The property appears in fine order and the present owners have invested heavily with a catering kitchen close to the dining room in which is a new boiler; bedrooms have large screen t.v’s with Netflix available. There is superfast BT Infinity Wifi to all areas. The Guest House is rated by Visit England as Four Star with a Silver Award. The Guest House currently caters for adults only. There is a garden/parking.

Tenure: The Guest House is held under the terms of a rare, long internal only repairing lease – it would be difficult to find anywhere else in the U.K. which offers such an advantageous lease – the leaseholder is responsible only for internal repair and decoration. The current lease commenced in June 2000 for a 60 year term at a current rent of £15,000 per annum with five year rent reviews – so in 2060 if the rent has been paid and the interior decorated satisfactorily, under the 1954 Landlord and Tenant Act the then tenant can serve a notice on the Landlord to grant them a new lease and the landlord must still continue to repair the business and decorate the outside.

The Business: A well established business which was running well in 2015 when the present owners took the business over, but the owners’ accommodation was poor and was not in the pristine state we see today – much has been invested in this area. In addition, the public rooms and guest bedrooms have been greatly improved to provide contemporary accommodation within a classic Georgian setting.
The guest house offers bed only with the option of breakfast (due to Covid 19 the guest house is offering room only currently – there are many cafes etc nearby) normally breakfast is charged at an additional £7.50 each person. Tariffs for room only are approximately per room: Winter - £45 (single) to £90 and Summer - £50 - £110.
The agents are informed that the turnover for the year ended March 31st 2020 was in excess of £80,000.
New owners will derive much repeat business without the cost of booking agencies and will have little to spend on the property ( the frontage was painted in March 2019 and bespoke Georgian windows replaced where necessary – at the cost to the landlord which the agents estimate at around £15,000)
The owners, a husband and wife team have loved running The Guest House and now wish for new challenge which is taking them to Europe.

A wonderful lifestyle. Highly recommended by the sole agent Lawrence Wright

Price: £365,000 for the very valuable lease, goodwill, fixtures, fittings and trade utensils, furniture, furnishings and effects.

** Rose Award This is an award made for one year by VisitBritain for outstanding service. Only 100 are awarded in the UK each year. Our clients won this award in 2016.
Tenure:
Leasehold
Is accommodation included?:
Yes
Number of bedrooms:
2
Is this business home based:
Yes
Listed by:
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