Licensed B&B And Seasonal Seafood Restaurant In Weymouth For Sale

8 en suite Letting Bedrooms each with a view of the Harbour or Sea;
Dining Room and Lounge Bar to:
Raised Terrace overlooking The Harbour with seating for 27;
Owner’s Accommodation
Guest House and Restaurant run separately with informed turnover of
£180,000 with NO VAT PAID
The property is Grade II Listed and forms part of a Georgian and Early Victorian Terrace built in the best position in Weymouth to capture the views over the sea and harbour. Most of these former grand residences are now run as hotels or guest houses and this is a unique concept on the Esplanade being both a guest house and a seasonal restaurant and small function venue. The property has gas central heating.
Tenure: The property is held under the terms of a 60 year full repairing and insuring lease from Dorset Council which commenced in 2007 with provision for 5 year rent reviews at a current rent of £20,000 p.a. including vat.
The Business - A long established licensed guest house with seasonal restaurant and small function venue which has been in the present family’s hands for many decades. The letting bedrooms attract a good level of repeat trade for bed and breakfast. The terrace and adjoining lounge bar/dining room have been used as a venue for sea food and steak barbecues and small weddings and other functions for up to 50. For some years the proprietors have offered particularly seafood platters with a bottle of wine from the terrace. The business is run by two proprietors and part time staff as required; A company owns the guest house business and a business partnership owns the Harbour Terrace Restaurant and both businesses each restrict trade to the vat threshold of £90,000 p.a. – a buyer would acquire both businesses and the lease and all the fixture, fittings, equipment etc.
Price: £650,000 sav
EPC: Exempt