Neat and Well Kept Property with 8 Letting Bedrooms (6 en suite); 1 or 2 Private Bedrooms;
Private Lounge leading to Pretty Enclosed Garden; Private Study with separate broadband;
Car Park for 6.
The guest house is well located in Waterloo Terrace which is close to the beach and in a prominent position for passing trade within walking distance of the town centre, ‘bus and railway stations. The property benefits from gas fired central heating to all but the top floor with partial heating to the lower ground floor. The guest house is offered in good decorative order and the current owners have installed a new boiler in the utility room and new hot water tank in the kitchen; much of the flooring on the ground floor has been renewed and all letting bedrooms now have a ‘fridge. Because the property is located early in the terrace the front guest rooms have a view of the sea. There is a guest's car park immediately to the rear of the property. Bedroom 1 could be used privately or as a letting room.
Tenure: The premises are held under the terms of a full repairing and insuring lease for a term of 60 years with 5 year rent reviews which commenced in 2007 at a current rent of £12,950 p.a.
A well established business which has been run by a husband and wife team since July 2019 and is now available due to retirement. The guest house has been improved throughout and upon viewing the quality of the accommodation will be seen and this is borne out by TripAdvisor where 92 from 101 reports are Excellent or Very Good.
The owners have changed the offering to guests where tariffs are offered with or without breakfast – a full, cooked breakfast is £10.00 and continental charged at £5 – this flexibility has been popular.
Privately booked rooms are offered from £62 per night single Room 1 including breakfast to Rooms 7/8 @ £130 including breakfast.
The agents have inspected recent accounts where the turnover is around £64,000 - £70,000 depending on the length of the opening season – generally the business closes in November, re- opens in December for Christmas and New Year and then closes until March. Bookings for the 2025 season at the time of instruction are standing at approximately £16,000.
Price: £370,000
EPC: Exempt
