Grade II Listed 12-Bedroom Sea View Hotel in Weymouth Dorset up for Sale
Weymouth, Dorset
- Status
FOR SALE
- Date Submitted:
01/05/24
- Advert ID
610682
- Reference
H315 / Rightbiz
- Call Agent:
- Leasehold: £395,000 (Stock at valuation)
- Rent: £23,500
- Turnover: £177,631 (£3,416 Per week)
- Net Profit: On request
Key Features
- With Car Park
- Established Business
- Fully Fitted
- Retirement Sale
- Attractive Business
- Accounts Available
- Home Based
Business Details
Lucrative Traditional Small Hotel with Sea Views Weymouth
12 En suite Letting Bedrooms sleeping 34; Dining Room for 34; Breakfast Preparation Room; Substantial and Newly Equipped Catering Kitchen; Games Room and Bar; Laundry; Private Lounge/Diner; 3 Private Bedrooms; Rear Parking Space; Garage Parking nearby(rented).
The property is located within easy reach of the Town Centre and all amenities with many rooms with sea views.
The guest house is Grade II listed and benefits from central heating with two boilers for central hearing and third for hot water. A very useful feature is the breakfast kitchen next to the dining room. The main kitchen has been refitted with stainless steel work surfaces, new cooker, extraction fan etc.
Tenure: The premises are held under the terms of a 60 year full repairing and insuring lease which commenced in 2007 at a current rent of £23,500 p.a. with 5 year rent reviews.
The Business – A traditionally run small licenced hotel which provides bed and breakfast and the option of an evening meal (except in August). The business has been in the present hands since 2003 and is run a by a husband and wife team with staff and is now available due to retirement.
The agents have inspected the accounts for the most recent pre-covid year to 31st December 2019 and a turnover of £146,178 excluding vat was achieved with a reconstituted net profit of approximately £60,000 p.a.
Since Covid the turnover has achieved a figure of £177,631 ex vat but with retirement beckoning the owners are now restricting the opening period to 6 months per annum; new owners can trade 8 months of the busy period and winter trade is available in Weymouth with a population in excess of 50,000 and visitors coming for walking, commerce, sailing etc.
Business Mortgage - The property is held on a secure long lease and together with substantial profits allows a buyer to obtain a loan to purchase (subject to status) – speak to Lawrence Wright who is an Introducer Appointed Representative to a Financial Conduct Authority authorised firm of commercial finance brokers
Price: £395,000
EPC: Exempt
Contact Agent
Listing Statistics
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Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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