The Guest House has been run as a lifestyle - others like this in Weymouth are taking 4x Turnover!
14 Letting Bedrooms (10 en suite) 2/3 bed owners accommodation; Informed Turnover of Approx.£45,000 p.a
( Previously £65,000 p.a.)Scope for more!
The property is of Georgian origin and is Grade II Listed and benefits from gas fired central heating. Many of the rooms have magnificent sea views. The living accommodation could be enlarged with the addition of the unused bar lounge.
There is potential to use the ground floor letting bedrooms for additional living accommodation. In addition, the top floor could be converted to two family rooms with en suite facilities ( subject to planning permission)
A predominantly bed and breakfast business run now as ‘lifestyle’ business in the peak summer months and located in a good position. The business is run by a husband and wife team with staff. The guest house has been in the present hands for a considerable time with much repeat business and is now available due to retirement.
The agents are informed that the turnover is running at approx. £45,000 p.a. from very restricted opening.
The business is exempt from business rates.
Agents note: We have handled the sale a number of businesses in Weymouth similar to this and we feel that there is undoubted potential to achieve a considerably higher turnover by opening for longer each year, increasing the level of marketing on the internet such as using major booking agencies and the development of the less well used areas of the property such as the redundant bar lounge and top floor which is without en suite facilities. If the turnover was increased to beyond the VAT threshold, the flat rate scheme whereby only 10.5% is actually paid should be considered as long as the turnover ex vat is less than £150,000 p.a. at the commencement of this arrangement.
Tenure: The property is held under the terms of a full repairing and insuring lease from Dorset Council for a term of 25 years with approximately 16 years remaining. The current rent is £22,000 p.a. with a rent review currently being negotiated.
Price: £185,000 Cash Buyers Sought
EPC: Exempt - Grade II Listed
Is accommodation included?:
Sea Front Location
Is this business home based: