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Long Leasehold Virtual Freehold Sea Front Guest House For Sale

Weymouth, Dorset, UK
Asking Price:
£595,000
Turnover:
£100K - £200K
Net Profit:
Available on request

12 En Suite Letting Bedrooms;
Top Floor s/c 2 bed flat (let and producing £700 pcm)
Ground Floor Dining Room with sea views; Breakfast Kitchen;
Substantial Living Accommodation incl. Lounge; 2/3 Bedrooms; Enormous Kitchen/Laundry/Snooker Room?
Rear Secure Yard for M/Cycles, Cycles etc
Informed t/o Approx. £120,000 incl. vat
125 Year Lease @ £5 p.a. FIXED

Located a few metres from Weymouth Beach across the road and close to the town centre. The property dates back to the Georgian period, is Grade II Listed and has the benefit of gas fired central heating. In the present ownership the property has undergone considerable improvement including a new boiler and water tanks, and the decoration moved to an annual rolling scheme of maintenance. The breakfast kitchen is conveniently located close to the dining room which is on the ground floor and has sea views. Also, a number of the letting rooms have sea views. The living accommodation is large and includes both a shower room and a huge bathroom which could be converted into a 3rd ensuite private bedroom, if required.

Price: Only £595,000

Property Information

Property:

Leasehold

Living Accommodation:

2 bedrooms, Lounge, 2 bathrooms (incl. large bathroom which could convert to 3rd en suite bedroom)

Location:

Prime Position Facing The Sea

Premises Details:

Substantial Georgian Grade II Listed

Business Operation

Expansion Potential:

There is undoubted expansion potential as there are guest houses close by which are charging more than double the tariff of this guest house but those B&B's achieving say £175 per room per night offer a more luxurious stay and that potential is available in Weymouth to those willing to invest and with a tenure such this an investment will be reflected in the net profit and ultimate value of the property.

Competition / Market:

There are many hotels and guest houses within a short distance which complement rather than compete as there are times when guests cannot find a room but owners work together on a reciprocal basis to share out the excess guests.

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