Licensed hotel currently run on a flexible B&B basis with 10 guest bedrooms with owner’s bedroom (all en-suite). Additionally there are three sub-let flats on the lower ground floor and three of the hotel rooms can also be let out on an AST basis if required. Close to Town Centre amenities. Outside there is a front patio terrace and a rear garden.
- Asking Price:
- £475,000
- Turnover:
- Undisclosed
- Net Profit:
- Undisclosed
Property Information
- Property:
-
Freehold
- Premises Details:
-
This well established licensed hotel has been run by that present owners for 14 years and is now for sale owing to their changing lifestyles.
The business is currently run on a flexible B&B basis utilising 10 guest bedrooms with an additional owners Bedroom. There are also three sub-let flats on the lower ground floor let individually. Rooms 5, 8 and 9 can be let out on an AST basis and if so, there is a Communal Lounge and Kitchen allied to these rooms.
The property is an attractive Victorian building which has been extended and altered to the side and the rear and is located in a very good letting area being only a few hundred yards from the main shopping centre of the Town and about a 400 yard level walk to the Cliff-Path with lift and steps down to the beach. Many of the bookings are received from Booking.com.
The accommodation is warmed by gas fired central heating with at least 90% of the windows being replacement uPVC units. Some of the first floor accommodation has been upgraded in recent times. Currently the business operates for approximately 9 months of the year.In our opinion, this business would be ideally suited for someone wishing to make a start into the leisure trade as it offers scope for changes and it also has a very good steady income from the three permanently let units. We recommend an internal viewing to appreciate the hotel and its accommodation which comprises:-
First floor
Galleried landing with cleaning cupboard.
Bedroom 5 - double with en-suite shower wc
Bedroom 8 - double with en-suite bath/wc currently let on an ast £160.00 per week.
Bedroom 9 - double with en-suite shower wc currently let on an ast £130.00 per week.
Bedroom 10 - family of three with en-suite shower wc
Bedroom 11 - single with en-suite bath/wc
Bedroom 12 - family of four with en-suite shower wc
Bedroom 14 - family of three with en-suite bath/wc
Communal lounge: with tv point.
Communal kitchen: with wood effect laminate worktops with white shaker style units with 2 gas hobs with extractors
Over, 2 electric cookers and 2 stainless steel sink units.Ground floor
Entrance hall with stairs to first floor and door and stairs to lower ground floor.
Separate wc
Guest’s lounge with reception counter and office off.
Bar with fitted counter and built-in shelving.
Dining room with original ceiling coving and dado rail. Separate tables and chairs with seating for 22 plus guests.
Kitchen which is well equipped with equipment including stainless steel work tables and shelving, sink, commercial oven, hot cupboards, gas grill, shelving, fridge freezers, worktops etc. Doorway to:
Wash-up room with range of fitted worktops and shelving, sink unit, dishwasher etc. Door to:
Still room with all the tea and coffee making facilities.
Bedroom 1 - twin with en-suite bathroom wc
Bedroom 2 - single with en-suite shower wc
Owner’s bed (room 3) - twin/double with en-suite bathroom
Bedroom 4 - twin.double with en-suite shower/wc
Lower ground floor
The majority of the accommodation on this level is arranged as two 1 bedroom flats and a bedsit. All three units are
Currently let on assured shorthold tenancies at rents of £150, £125, £100 per week respectively and the third unit commands a rent of £150 per week if re-let.Laundry room with washing machines and dryers etc.
Store room
Staff bedroom - single with en-suite bathroom.
Workshop store
Outside
Boiler room with gas boiler supplying central heating and hot water.
Front patio terrace with shrubs and flower borders.
Rear garden which is laid to paving and gravel with a wooden deck area, wooden garden furniture and a wooden
Pergola.Tenure freehold (to be confirmed).
Services all mains connected.
Uniform business rate £8,400
Council tax band for flats at the property band a. Can be confirmed by the isle of wight council
Viewing strictly by appointment through arthur wheeler estate agents
Business Operation
- Reasons for selling:
-
Retirement
