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Georgian Classic Bed And Breakfast In Weymouth For Sale

Weymouth, Dorset, UK
Asking Price:
£500,000 Furniture / Fixtures included
Turnover:
£50K - £100K
Net Profit:
Under £50K

9 en suite letting bedrooms; Spacious Private First Floor Lounge; 2 bedroom owners accommodation with Second Lounge; Large walled garden.

Located a few metres from Weymouth harbour and close to the town centre. The Beach and Esplanade just to the rear of the property. The property dates back to the Georgian period, is Grade II Listed and has the benefit of gas fired central heating and partial double glazing. Since 2012 the property has undergone considerable improvement with many of the showers replaced, carpets renewed and the decoration moved to an annual rolling scheme of maintenance. The kitchen is conveniently located between the Dining Room and the Owners Accommodation.

A very well established bed and breakfast guest house which has been in the present hands since 2012 having purchased through Lawrence Wright and is now available due to retirement. The business is run by a couple with staff as required. The business is currently rated 3 stars by the AA and 94% of Tripadvisor Reviews rated Very Good or Excellent. The business caters mostly for older guests and business people and in the summer are able to restrict bookings to a minimum of three night stays. Currently trade is also restricted to adults and children of 14 or over.
The business opens in the summer months and is closed for long periods in the winter. Bedroom 1 is kept available for visiting family all year. The top floor is closed all winter and when the business is open at this time only 5 bedrooms are used and room only tariffs are offered.
The agents have inspected accounts for the year ended 5th April 2019 and a turnover of £78,470 was achieved from 8 letting bedrooms – 2020, the business is likely to achieve the VAT threshold prior to the year ended April 4th and is expected to close for the month of March. New owners may wish to increase turnover further by opening Bedroom 1 for letting and converting the upper lounge to an en suite letting bedroom ( subject to p.p.). VAT could be paid at the ‘flat rate’ of only 10.5%.

EPC: Not Applicable ( Listed Building)

Freehold Offers over £500,000 - Contact Lawrence Wright .

Property Information

Property:

Freehold

Living Accommodation:

Owners flat of Lounge, 2 bedrooms, kitchen ( used for commercial and domestic) and office area are very private - all leading out to the delightful private, enclosed garden.

Location:

Located close to the town centre about 50 metres from a public car park with free overnight parking and a few metres from the famous harbour

Premises Details:

A classic Georgian Property with many original features.

Business Operation

Expansion Potential:

There is potential to again use the ground floor bedroom - the most popular, which would bring the business turnover up to the VAT Threshold of £85,000 p.a. The first floor lounge ( 18' x 12') could be put to commercial use if required.

Competition / Market:

Competition is not an element which troubles Weymouth as the equilibrium between supply and demand is balanced and other guest houses are complimentary with relationships between proprietors good.

Reasons for selling:

The current owners, a husband and wife, have enjoyed a comfortable living in semi retirement after both having a busy career in the NHS. They are now looking to retire.

Years established:
Very Old Established

Other Information

Support & training:

Support and Training to the new owner upon exchange of contracts

Financing available:

The agent is an accredited introducer under the terms of the Financial Conduct Authority and, subject to
status and approval, a loan to purchase is available from a number of banks and a building society.

Related Documents:

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