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BUSINESS REFERENCE : AC109 / RightBiz AC109-EAST YORKSHIRE COAST-£385,000 -HOLIDAY LET 19TH CENTURY HOUSE | | | | | | Holiday Let 19th Century House Confidentially offered for sale Ref No: AC109 Location: East Yorkshire Coast Asking price: £385,000 | | | BUSINESS LOCATION: | Undisclosed Relocatable UNITED KINGDOM | | BUSINESS SECTOR: | Leisure, pubs and hotels | | TRADE TYPE: | Guest Houses | | SALE: | Agent Sale | FREEHOLD: | £385000 | | | | | | | | | | | BUSINESS DETAILS: | Business Profile:
The current owner bought this beautiful late Regency, early 19th century town house in 2004 and have refurbished the property to an extremely high standard throughout, no expense has been spared.
This property is a luxury holiday let and offers families or groups the chance of a short break or longer holiday by the seaside.
A superb, very spacious home, of over 3,000 sq ft, the property is equipped to the highest quality, each room is fitted out with everything that you would expect to find in your own home, from the beautifully appointed fitted kitchen with all crockery, pans and utensils, through to the lounge with an excellent TV, DVD system and caring touches like family games to play.
This can genuinely be called an extremely well appointed house. All the rooms are comfortably furnished. Arranged over five floors, the renovation has focussed on the family holiday maker, from plumbing systems for hot water and sanitation for 14 people, to the emergency lighting and fire alarms. The accommodation now provides an excellent level of amenity and sleeps up to fourteen, in double, twin and single accommodation. Locally there is nothing to compare to this holiday property for letting, this accounts for the very high percentage of occupancies throughout the year.
Weekly bookings are generally taken in the summer period, from May to end of August, plus Christmas, New Year, Easter and school half-terms. Winter bookings are generally taken for long weekends breaks.
The location of the house is superb, only 4 minutes walk to the beach, there are stunning sea views from the lounge, dining room and some of the bedrooms, and it is only 2 minutes to the town centre with all shops and amenities.
Equipment:
The house is to be sold fully equipped and ready for immediate letting. All fixtures and fittings are included in the sale of the property including, crockery, utensils, kitchen appliances including, range cooker, American fridge/freezer, dishwasher, clothes washer and tumble dryer. All furniture including, beds, linen, carpets, curtains, T.V’s, stereo and artwork.
Employees:
The owner looks after all of the lettings and financial matters.
There is a part time Manager who looks after two domestic helpers who work on Friday’s as required.
Key Strengths:
This is a unique opportunity to own an elegantly restored, five storey terraced house in a quiet seaside town on the East Coast of Yorkshire, tailored to the holiday market. The high quality finish and the excellent décor enhance this beautiful period house. It has excellent revenue streams, all year round, with some spare capacity during the winter months. Revenue last year brought in circa £35,000 with very low overheads.
Sleeping 14 people the property is perfect for a family celebration party, or for even two or three families to share their holiday. This has been a repeat pattern of bookings during the past three years plus there are a growing number of repeat lettings from previous customers. It is a perfect place to unwind, de stress and have fun, ideal for parties of friends and extended families who want space and peace.
Growth and Expansion:
The house would easily lend itself to owner occupation, combined with the holiday rental business. The lower ground floor, (currently two large bedrooms, wet room, wc, hall, laundry room and boiler/plant room) could be used as a self contained flat. The laundry room would, with the addition of a cooker, make an excellent small kitchen. The loss of rental bedrooms could be offset in part, by putting twin beds in the playroom, creating a 12 bedded letting unit, with owner flat.
There is believed to be a large, currently untapped, market in mid-week breaks, or possible small scale corporate use, having a dining room seating 14 for conference use.
Key Opportunities:
Rental charges have been kept at a minimum to maximise the lettings, there is definitely scope to increase these prices.
The holiday house is paying 18% of any lettings to an agent, and with more direct bookings being taken, these charges should quickly diminish. Investment in direct advertising in regional newspapers and magazines could lead to more enquiries and possibly replace the need to pay commission to the agency. There is a need for a web site, which could bring in extra bookings. This extra advertising could help to promote bookings through the quieter winter months.
The property provides plenty of possibilities, either as is, or as owner accommodation with an excellent part time income, as B&B, corporate use, or with appropriate consents, conversion to a restaurant with rooms.
Advertising and Marketing:
The property is listed on the web site of the holiday letting agent and is currently the only marketing taking place. Developing a website would inevitably lead to more bookings and increased turnover.
Premises:
The house is laid out on five levels. The Lower Ground Floor, has a king size bedroom, a twin bedroom, a wet room, wc, hall and a laundry room (which could become a small kitchen), and the boiler/plant room. The Ground Floor, consists of a reception area, a dining room, fully fitted kitchen/breakfast room and a toilet. First Floor, has a sitting room, double bedroom, a bunk bed room and separate toilet. Second Floor, has a master en suite bedroom, a twin bedroom and a family bathroom. Third Floor, consists of, a twin bedroom and a playroom (which could be used as another bedroom).
Financial Information:
The business, which is a VAT registered, limited company, is being offered for sale on a going concern basis. All financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.
Turnover for lettings is circa £35,000 per annum, with expectations to improve on this figure for the coming year. Rates are circa £750 per annum.
Reason for Sale:
The owner has health reasons for selling the business.
Support and Training:
The current owner would be keen to help with the handover. | | | | | | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | AC109 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
