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BUSINESS REFERENCE : 1524 / RightBiz PUBLIC HOUSE 10 BED B&B (FREEHOUSE) - EASINGTON | | | | | | PUBLIC HOUSE 10 BED B&B (FREEHOUSE) - EASINGTON Tranquil village - close to Spern Point on the East Coast Approx. £4,000 pw turnover with 60% gross profit Highly Profitable due to B&B income | | | BUSINESS LOCATION: | Easington East Riding of Yorkshire UNITED KINGDOM | | BUSINESS SECTOR: | Leisure, pubs and hotels | | TRADE TYPE: | Bed & Breakfast | | SALE: | Agent Sale | FREEHOLD: | £475000 | | | | | | | | | | | BUSINESS DETAILS: | PUBLIC HOUSE 10 BED B&B (FREEHOUSE) - EASINGTON
Tranquil village - close to Spern Point on the East Coast
Approx. £4,000 pw turnover with 60% gross profit
Highly Profitable due to B&B income
Owners one bed en-suite accommodation
4 letting rooms in main building
New 6 bedroom chalet block all en-suite
Full all year round trade
Tremendous scope to develop further
All serious offers considered
Priced for quick sale
FREEHOLD
ASKING PRICE
£525,000 Plus SAV (O.N.O.)
Ref: 1524
Location
The business is situated in the pleasant and tranquil East Coast village of Easington which is close to Spern Point nature trail & bird sanctuary and attracts a busy tourist trade through the summer months. It is approximately 20 minutes East of Hull and close to a large Gas Terminal for British Gas, B.P and Centrica with upwards of 200 contractors working on site which creates a heavy demand for weekly accommodation within the area.
Business History
Meridian Business Sales takes great delight in offering for sale this truly thriving concern which had been under the careful ownership of our clients for the past 4 years and is now reluctantly being placed on the market because of pending retirement due to partner ill health. Shortly after taking over the business our clients realized that they wouldn't be able to survive off the wet trade and decided the way forward would be to take advantage of the heavy demand for accommodation from contractors working at the local gas terminal and invested over a £100,000 in building a new single storey detached 6 bedroom en-suite chalet block which can accommodate 12 guests. Since completion in 2005, turnover has doubled with near full occupancy levels being maintained throughout the year and some weeks they have to turn away bookings. Whilst 60% of income is generated from B&B our clients have established a good loyal customer base from within the village which results in wet sales of approximately £1,800 to £2,000 per week (30%) and in addition food sales account for approximately 10% of turnover. There is still plenty of scope for further development as our clients haven't fully exploited the food trade as they only provide food for their guests and haven't exploited the summer tourist trade who regularly pop in and ask for light bar meals. There is also tremendous potential for developing extra bed accommodation within the large rear car park. An ideal opportunity we feel for those with the imagination and energy to take this business to the next level of success. Viewing is highly recommended and urgent inspection a must as businesses of this calibre and potential rarely stay on the market for long. All serious offers will be considered to help facilitate a quick sale (one not to be missed).
Financial Profile
Turnover (Aug 2006) £193,800
Gross Profit 59.23%
Tenure
We are advised Freehold
Accommodation
A large detached property circa. 1700 under a pitched roof with newly built (2005) annex single storey detached, 6 twin bed all en suite chalet block, double glazed and central heated - large rear car park briefly comprising:-
GROUND FLOOR
Entrance porch through to open plan lounge bar with traditional beamed ceiling, centre island brick built open style fireplace , attractive bar servery with 16 beer heads - glass washer - ice maker 1x double chiller 1x single door chiller - electric till. High back bench style upholstery seating around perimeter pool room.
Kitchen with tiled walls, with 5 ring gas oven - deep fryer - 2 x stainless steel prep tables 4 x microwaves - extraction canopy - salad bar. Rear lean to conservatory / prep room / freezer room commercial dishwasher - large commercial stainless steel sink unit 3x upright freezers 1x upright fridge 3 x double base units with worktops rear entrance lobby with ladies and gents toilets.
FIRST FLOOR
Owner accommodation - Lounge - 1x double bedroom with large en-suite bathroom through to ironing room. Letting rooms 2 single 2 twin all en-suite.
EXTERNAL
Large rear car park and 6 bedroom en-suite detached chalet block | | | | | BUSINESS STATUS: | FOR SALE | | | | | SELLER: | MERIDIAN BUSINESS SALES | | CONTACT: | 0845 222 0508 | | REFERENCE: | 1524 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
