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New Forest Bed & Breakfast For Sale

Hythe, Hampshire
Asking Price:
£649,950
Turnover:
£69,208
Net Profit:
£34,776

LOCATION: Situated on the west side of Southampton, the nearby village of Hythe is home to the first of all the Marina Villages built in the UK. Inspired by Port Grimaud near St Tropez in the south of France, it lies between the western shore of Southampton Water and the New Forest. Sir Christopher Cockrell, inventor of the hovercraft and a long-time resident, laid the first brick on 4th December 1984. Today the 45 acre site boasts over 200 homes with most of the residents keeping a boat on the berth connected to their properties. A short 12 minute ferry ride across Southampton Water is West Quay, a major shopping centre supported by the UK's leading department stores, favourite high street names and an excellent selection of specialist and independent shops. For those living in this part of Hampshire, the city offers history, culture, entertainment and leisure opportunities, with the Hamble and other waters providing sailing and other water sports. Southampton is a major deep-water port with a wide range of customers and trades. It has a unique double tide, allowing access for the world's largest vessels. It is the UK's leading vehicle-handling port and handles almost half its containerised trade. To the west lies the New Forest with all the natural beauty one could wish for. The charming village of Beaulieu, home of the National Motor Museum is only 4 miles away. BUSINESS: This well-presented freehold Bed and Breakfast property is conveniently situated on the edge of The New Forest near the village of Hythe. The vendors have arranged the accomodation to provide 10 letting rooms but one or two more letting rooms could be offered using one or two of the owners' 3-bedroom accommodation. Open year round since 1995 with some long-term commercial guests occupying the property mid-week, the owners prefer to run the bed and breakfast service Monday to Friday, taking week-ends off. Given the property's proximity to The New Forest National Park, there is significant scope to increase revenues and profit by accepting week-end bookings. Operating on comfortable hours, a Full English or a Continental Breakfast is served weekdays from 06.30 in the dining room. BUSINESS PREMISES: (all sizes are approximate & should be considered 'nominal'.) The accommodation includes a comfortable Guest lounge area which has been recently redecorated. Guests appreciate the Freeview TV, DVD and Video players, the good stock of films and board games in the guest lounge and the free-access Wi-Fi which provides broadband throughout the property. The owners participate in the England Occupancy Survey operated by Visit England and current data will be made available to serious buyers when visiting the business premises. There is an open seating area in the garden for guests to use. There is a large private car park next to the building for up to 8 vehicles with on-road parking for 4 more. There are approach lights and CCTV for added security. The New Forest National Park lies to the west with its beautiful, ancient woodland, open heather-clad commons and rich variety of wildlife including the famous ponies and red deer. Hythe is one of the Waterside Villages on Southampton Water. There is a ferry across the river every half hour with a short, free bus link to the centre of Southampton and the West Quay shopping mall. 1 en-suite double bedroom 2 en-suite twin bedrooms 1 en-suite family bedroom 1 en-suite single bedroom 1 double bedroom with hand basin 2 large single bedrooms with hand basins 2 single bedrooms with hand basins Note: Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition. PRIVATE ACCOMMODATION: (all sizes are approximate & should be considered 'nominal'.) The Owner's accommodation comprises a spacious, modern fitted kitchen, private lounge, en suite double bedroom, 2nd double bedroom, dining room (or en suite bed 3), family bathroom and an office. The vendors will show interested buyers how two additional letting rooms could be easily re-instated if desired. OUTSIDE: The private car park takes 8 vehicles with space for 4 more on the road TENURE: Freehold RATES: The rateable value of the business premises is £8,500 with rates of £1,700 payable in 2015/16. The domestic accommodation falls into Band A for council tax purposes. NOTE: This information has been obtained either from the current rate demand for the property, by telephone from the local authority or by reference to the VOA website. The amount payable is the standard rate for the Rateable Value shown. In some circumstances this may vary, and therefore it is recommended that potential buyers make their own enquiries through the local authority to check the applicable rateable value and whether the rates payable will be the figure quoted above. SERVICES: We understand from the vendor that all main services are connected to the property. TRADE: The vendor declares turnover for the last 12 months of £60,361 excl. VAT. RIBOS Surveys (available to viewers on request) show occupancy of 71% since April 2015. STAFF: The Husband and Wife live-in owners work in the business supported by two part time cleaners who work 2 hours per day Monday to Friday at £7.50 per hour. Laundry is sub-contracted out to a commercial company. STOCK: The vendor informs us that the value of the stock is approximately £250. LEGAL FEES: Vendors and Buyers each to meet their own legal costs, but if a lease is to be assigned from the vendor to the buyer they will also be expected to share the landlord's legal costs on a 50/50 basis. If a buyer wishes to negotiate a 'new' lease, they will be responsible for all the landlord's legal costs. COMMENTS: The vendors now wish to retire. This has created a rare opportunity to acquire an established and profitable B&B serving the New Forest and a neighbouring major employer which contributes 75% of the revenue from long-term, repeat bookings. Financial information will be made available to seriously interested purchasers after they have formally viewed the business.

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