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14 Bedroom Commercial For Sale
The Esplanade, Weymouth, DT4 7AY
Offers in Excess of 375,000

Key Features

  • AWARD WINNING B&B 5*
  • Seafront Location
  • Adults only
  • 12 lettings rooms all WITH EN SUITE
  • Spacious owners accommodation
  • BRAND NEW FIRE ALARM SYSTEM
  • Parking available for guests

Summary

Cornerstone Estates are delighted to offer for sale a HIGHLY SUCCESSFUL BUSINESS with 5* reviews on TRIP ADVISER, situated on Weymouth's Esplanade, offering fine bed and breakfast to adults only. This leasehold property has 12 fully REFURBISHED/REDECORATED guest rooms, all with en-suite facilities, accommodating up to 22 people. There is also the potential for two further letting rooms. The owners' accommodation is extremely spacious and self-contained in a Mews House with a separate entrance and a private courtyard. The business has received many awards in recent years and is perfect for new owners to walk in and continue to operate.

Location

The property is situated close to the Jubilee Clock on The Esplanade, OVER LOOKING WEYMOUTH BAY and is the ideal base from which to discover the Jurassic Coastline, a World Heritage site, the Dorset Coast Path and the surrounding countryside. It is within easy walking distance of the town centre and the railway station. Weymouth beach provides gently sloping sands and a sheltered bay, along with classic seaside leisure and tourist related facilities and has a charming harbour. Nearby Portland offers specialist diving and sailing activities and is famous for the National Sailing Academy, sailing venue for the 2012 Olympics.

Ground Floor

THE PROPERTY

The property is a Grade II Listed building completed in 1778. It is laid out over 4 floors plus a basement and has rendered elevations with a slate roof. The exterior of the building (front and back) was painted in 2014. The building was awarded five out of five for its frontage at the last hotel inspection.
The Mews House, and adjacent courtyard, is situated at the rear of the property.

PUBLIC AREAS

On entering the property, the guests' lounge and spacious breakfast room are situated to the left of the entrance hall. The guests' lounge has a cosy feel to it and has a large TV and impressive sea views across Weymouth Bay. New carpets were fitted in the hallways and breakfast room in 2014 and new tables and chairs were added in 2015.

LETTING BEDROOMS

There are 12 guest rooms with the potential for two further rooms. There are 3 kingsize double rooms, 5 double rooms, 2 twin rooms and 2 single rooms. All rooms have quality fitted furniture, LCD televisions, free Wi-Fi and coffee/tea making facilities. Some rooms have sea views. There is also the potential for two further letting rooms.

OWNERS' ACCOMMODATION

At the rear of the property is a spacious self-contained Mews House comprising three large bedrooms, a bathroom, an office and a lounge. The house has a separate entrance and a private courtyard. This is a further development possibility as it would be easy to change this to a self-contained holiday let by changing the use of the office into a kitchen.

SERVICES

Weymouth and Portland District Council.
Mains electricity, gas, water and drainage. Gas heating. Cooking?

ACCOUNTS

Our clients are happy to provide trading information to those who are particularly interested in the business. Our clients have been running the business for nine years and in recent years have increased visibility through social media and this has resulted in an increase in bookings. Currently approximately 50% of bookings come through Booking.com and 50% through social media and own website.

PRICE

The asking price of 465,000 includes goodwill and trade contents but does not include personal items and trading stock. ?
The property is leasehold with 51 years remaining on the lease.

ADDITIONAL INFO

including a Gold Award for being an environmentally-friendly and ethically-run business, a Visit England 3 star B&B Award, Visit England Silver Award, Visit England Breakfast Award & Green Tourism Business Scheme Gold Award.

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Additional Information

The Mews House offers a further development opportunity as, with a few alterations, this could be transformed into a self-contained holiday let.
A new hot water and heating system was installed in 2011 and is the greenest possible system within the confines of a Grade II Listed building.

BRAND NEW FIRE ALARM SYSTEM INSTALLED JANUARY 2018.

For further information on this property please call 01305 759109 or e-mail info@cornerstoneestates.co.uk

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Administration Fees

The Lease is held under Weymouth & Portland Borough Council and has 51 years remainting.
As requested here are the answers to your questions regarding the potential viewing:

1. Maintenance charges to the Council:

We have a full repairing 60 year lease of which just over 50 years remains, as a full repairing lease we are responsible for all external and internal decoration and maintenance, so ther are no maintenance charges payable to the council. The external front and rear elevations of the building were repainted in 2014.

2. Business Rates:

Business rates this year are 0 after small business rate relief and other adjustments that came with the new charging scheme that began this year.

3. Rent to the council:

Our rent is 27,000 annually (6750 per quarter), however we have a payment plan in place with the council which allows us to pay this monthly at the rate of 2250 per month.

4. VAT:

we are VAT registered on the full scheme as our turnover far exceeds the 83,000 VAT threshold.

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