Business for sale

Business description

A charming easy run licensed bed & breakfast hotel well positioned on “a6” within walking distance of centre of thriving popular university town of loughborough

A rare profitable well established business with strong all year round clientele offered at £495,000 freehold to include fixtures and fittings, goodwill plus s.a.v.

*Same single owner 8 years with consistent Sales of £106,000 inc vat 100% guest lettings –excellent disposable net profits above £40,000 pa

*Retained Victorian features within 10 lovely decorated guest bedrooms all en-suite or private facilities

*Reception bar – period breakfast cum dining room

*Owners private 3 bedroomed accommodation with private access

*Located opposite “Prep School” close to “brown sign” tourist attraction & 3 minutes walk into vibrant town centre

*An ideal private purchase where a change of life style and reduced working hours are an important consideration

LOCATION (LE11 2AQ)
One of loughboroughs oldest guest house hotels located within three minutes walk of the towns thriving modernised town centre set on the busy a6 derby to leicester road opposite fairfield prep school close to its junction with king street which has a tourist “brown sign” directional towards the great central railway steam trust which is one of the county’s major tourist attractions.

The towns rail station is also signed from this point and there is easy access to the m1/m42/m6 along with east midlands nottingham airport which makes its positioning exceptional for business and leisure usage. Along with one of the most highly regarded universities (1 mile) in the country which provides a never ending supply of potential customers the hotel is well positioned for tourist attractions such as the internationally renowned motor racing at castle donington ( 9 miles) with its popular museum, charnwood forest ( the legend of robin hood) ,beacon hill, bradgate park, the birthplace of lay jane grey, taylors bell foundry, prestwold hall, beaumanor hall and many national trust properties, golf courses, race tracks etc.

PROPERTY DESCRIPTION
Undoubtedly one of the most interesting of classic victorian properties used as a traditional bed & breakfast hotel set “mid terrace” over four stories with arterial road frontage of traditional brick construction under pitched welsh slate roofs.

Enter from the front gardened area up the stone steps into the period splendour of the tiled entrance lobby and stripped timber hall way with its smashing stairway imposingly to your front. Immediately to your left is a most delightful hotel breakfast room (14) which could also be used for public dining and sunday lunch’s for which there is a strong demand within the area.

The dining room has many retained features including a wooden surround fireplace and large draped windows which provide an abundance of natural light. The bar & reception are located further down the lobby (bar currently not used but still fully licensed) which then backs onto the catering kitchen which has fitted units including a rangemaster 110 gourmet cooking range.

LETTING GUEST BEDROOMS
The business offers an interesting range of guest letting rooms, 10 in total over all floors of the property including 3 x family rooms with double & single beds, 1 x single room, 1 x triple bedroom, 3 x double rooms & 2 x twin bedded rooms.

All rooms are individually decorated to a good level and retain many victorian features including original cast iron fireplaces. All rooms provide tea/coffee making facilities and colour tv’s and all have either en-suite or private facilities. On the landings there are plenty of linen and general storage cupboards.

OWNERS ACCOMMODATION
To the lower ground floor there is a DOUBLE MASTER BEDROOM with en-suite, 2 further bedrooms, Laundry Room, Lounge, Bathroom and a private side entrance along with access from the reception area

EXTERNALS
To the frontage is a small walled garden area. To the rear an enclosed garden with mature shrubs and storage outbuildings with some freezer and washing equipment. The yard could be easily be used for either public or private use and a nice added facility.

PREMISES LICENSES
The business trades without the licensed usage (alcohol) however the Premises license allows trading a full 24 hours all week for residents if so desired.

TENURE
We are instructed to offer the property and business for sale as COMPLETELY FREEHOLD – consideration for alternative use such as student accommodation/flats/bed sits could be looked into if the current style of operation was not required.

SERVICES
We are advised that the business has mains electric, sewage, water connected with central heating and cooking by Gas. Business Rates payable are £2761 (05/06).

THE BUSINESS
We have accounts which show sales to Y/E of £106,000 inc vat , 100% Guest Lettings. The business has a high occupancy level and generates a Reconstructed Net Disposable Profit (after allowing for personal expenses, depreciation etc) in excess of £40,000 run single handed by our client with the assistance of some part time staff.

Previous years show sales consistent with the fore mentioned with £98,000 gross in “05” & £100,000 gross in “04”. This returns an exceptional profit level for the amount of hours invested into the business bearing in mind the owners lives out of the business free. The business is well capable of increasing sales and capturing other income possibly by providing a dining room service for residents and casual diners.

Ref: G4330F