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Traditional Lake District Guest House For Sale

Bowness-on-Windermere, Cumbria
Asking Price:
£175,000 Furniture / Fixtures and Inventory / Stock included
Turnover:
£76,470
Net Profit:
£31,837

Full description

Tenure: Leasehold

A traditionally styled guest house set over three floors, plus a lower ground floor for owner use. It is centrally located on the main thoroughfare between Windermere village and the bustling village of Bowness on Windermere in the Heart of the English Lake District. Having five letting bedrooms it is an ideal business for a couple without the need for any staff. Breakfast room with 10 covers. An added bonus for guests is a private car park for 5 cars. The business is well established in the area having been run as a guest house for more than 75 years. The guest house is surrounded by complimentary businesses, residential properties, visitor attractions and leisure facilities which are all beneficial for the business. Due to its position on the banks of Lake Windermere, Bowness village has become a tourist hotspot. The town is easily reached via motorway and major roads making commuting easy for anyone who wishes to visit. Windermere railway station is 1 mile from the guest house.

The guest house was acquired by the present owners in 2006 and they have significantly updated the property including re-siting and replacing the kitchen, refurbishing the dining room and all en suites. The owners have re-decorated and replaced all of the furnishings. Within the last 2 years carpets have been fitted throughout and beds replaced. All the old style wooden single glazed window frames have been replaced by fully double glazed upvc frames by the current owners. New gas boiler and closed hot water storage cylinder installed in 2016 (warranty for 12 years). Boiler maintenance fees paid up to January 2020. During the owners’ tenure the business turnover has been significantly increased making it stronger and more profitable.

All regulations complied with e.g. fire alarm and fire extinguishers, risk assessments. (L2 fire alarm fitted 2006 and serviced every 6 months).

Walk in condition and ready for trading - (@ 27th May 2019 - £23,283.00 of future bookings are in place - however, this will increase/decrease as time progresses).

The present owners have chosen to trade on a very relaxed basis in the run-up to retirement and there is therefore much potential for a new owner to significantly increase turnover.

LETTING BEDROOMS
Five double letting bedrooms, all with en-suite shower rooms, to sleep total of 10 people, but there could be potential to add extra beds in some rooms to increase income if required. Two of the bedrooms have views towards the lake and distant fells.

WEBSITE
www.hazeldene-guest-house.co.uk
Website service fees paid until Feb 2020

LEASE
The present lease expires in September 2024 and a rolling renewal contract is in place (current lease length having been negotiated from 10 to 12 years). Current rent £978.66 per calendar month on a Full Repairing and Insuring basis.

LEASE ASSIGNMENT
Please note that the purchaser will be responsible for the Landlord's fees in respect of the assignment of the lease. Each party will be responsible for their own legal costs in respect of the sale and purchase of the business assets.

TRADE
Certified accounts from the owners' Chartered Accountants in the form of a Trading and Profit and Loss Account will be provided to potential buyers who show a genuine interest and have viewed the business.

PRICE
Offers around £175,000 are invited for the lease complete with goodwill and trade contents (according to inventory), excluding personal items. Stock at valuation. @ 27th May 2019 - £23,283.00 of future bookings in place - this will increase/decrease as time progresses.

For more information please complete the contact seller form on this page, with any specific questions you may have.

Property information

Property:

Leasehold

Lease Terms:

The present lease expires in July 2022 and a rolling renewal contract is in place (current lease length having been negotiated from 10 to 12 years). Current rent £978.66 per calendar month on a Full Repairing and Insuring basis.

Leasehold Rent:

£11,750 per annum

Living Accommodation:

Owner accommodation
Lower Ground Floor:-
One large Bedroom with en-suite WC and separate bathroom
Large utility room

Ground Floor:-
Kitchen

First Floor:-
Sitting/dining/office.

Externally:-
Small front garden
Larger enclosed rear garden
Secure storage area
Single garage with up and over door, plus loft storage above. Power and lighting installed.

Location:

Centrally situated on the main thoroughfare between Windermere village and the bustling village of Bowness on Windermere in the Heart of the English Lake District

Premises Details:

A traditionally styled guest house set over three floors.

Business Operation

Reasons for selling:

Retirement

Trading hours:

7 Days a Week

Employees:
None
Years established:
Over 75 years

Other Information

Support & training:

Advice can be given if required.

Website:
Login or register to view link
Home based:
This business can be run from home.

Contact Information

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