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Profitable Home And Income Bed And Breakfast For Sale

Ilfracombe, Devon
Asking Price:
£295,000 Furniture / Fixtures included
Sales Revenue:
Available on request
Cash Flow:
Available on request

• Currently configured as five letting bedrooms, plus owners private floor
• Owners accommodation consisting of kitchen, bedroom, bathroom, lounge and conservatory leading onto garden
• Central heating installed in 2017
• Currently offering short term B&B lodging to local authority clients
• Existing HMO licence
• Consistent and profitable income

LOCATION
Ilfracombe has long been established as a thriving seaside resort, thanks to its sandy beach, wide range of accommodation and amenities. In recent years it has attracted a more diverse crowd too, including those who come to visit its Michelin-starred restaurant and see artist Damien Hirst’s installation ‘Verity’ that dominates the otherwise traditional harbour. Ilfracombe’s resident population of over 11,000 makes it one of North Devon’s larger towns, and there are solid plans for ongoing development including an additional 1,500k houses and possible marina. Good road and bus services connect Ilfracombe to Barnstaple (12 miles), Woolacombe (6 miles), Combe Martin (5 miles), Croyde (9 miles), Braunton (7 miles), Bideford (22 miles) and South Molton (24 miles).

THE SITUATION
The subject property is within the main arterial road of St. Brannocks leading into this popular tourist resort and is a short level walk to the Town Centre. The surrounding area primarily consists of leisure and residential properties.

THE PROPERTY AND CONSTRUCTION
Being a terraced town house on four floors with self contained private accommodation on lower ground floor comprising of owners bedroom, lounge, kitchen, conservatory leading to private garden. The upper floors provide a ground floor breakfast room and five letting bedrooms. During our clients tenure they have installed central heating (2017), a new fire system, emergency lighting as well as having replaced a number of bathroom suites.

THE PROPOSAL
Our clients are inviting offers for the Freehold interest.

THE BUSINESS
Although the business has previously trading as a traditional B&B will clients including holiday makers, passing trade etc our clients choose to derive income from short term lodging for clients from the local authority. Given the nature of the trade this provides them with all year round trade which they find is consistent and profitable. Last two years accounts show a turnover of £58,000 and £55,000 with net profits of £44,000 and £45,000 respectively. Breakfast is offered during a 30 minute window in the morning with the rooms serviced one per week. As the business can be operated by one person it does enable any partners to be able to produce additional income.

THE STOCK
Any current stock to be purchased at valuation upon completion.

THE INVENTORY
The property is sold with a full inventory of trade fixtures, fittings and equipment.

LICENCE
The property is sold with the benefit of the existing HMO licence.

ENERGY PERFORMANCE CERTIFICATE
Please contact the agents for a copy of the Energy Performance Certificate and Recommendation Report.

THE ACCOMMODATION (comprises)

Front patio area with storm porch leading to :-

Entrance Hallway with radiator heating, picture and dado rail

BREAKFAST ROOM
16’5 x 11’10 (5m x 3.60m) covers c. 12, bay window, ceiling cornicing and central ceiling rose

EN-SUITE LETTING BEDROOM 1
16’4 x 15’0 (4.95m x 4.55m) Carpet, radiator heating, garden views, picture rail, ceiling rose, three piece en-suite bathroom

Original stairway leading to FIRST FLOOR

Landing with carpet and radiator heating

LETTING BEDROOM 2
16’5 x 16’2 (5m x 4.90m) Central ceiling rose, carpet, radiator heating, wash hand basin, double glazed sash bay window, shower, private toilet facilities on landing

EN-SUITE LETTING BEDROOM 3
15’0 x 12’10 (4.55m x 3.30m) Radiator heating, carpet, bay window, views over garden, wash hand basin, ceiling coving, picture rail, ceiling rose, two piece en-suite shower room

SECOND FLOOR

Landing with carpet, linen cupboard, hot water tank

LETTING BEDROOM 4
15’5 x 13’7 (4.70m x 4.15m) Double glazed sash window, wash hand basin, carpet

LETTING BEDROOM 5
12’8 x 9’5 (3.85m x 2.85m) Carpet, wash hand basin, picture rail, radiator heating, views over garden

PRIVATE BATHROOM
For bedrooms 4 and 5. Two piece bathroom plus shower attachment, vinyl floor, part tiled walls

PRIVATE ACCOMMODATION

LOWER GROUND FLOOR

Hallway with under stairs office space

BEDROOM
11’7 x 7’7 (3.55m x 3.31m) picture rail, carpet

KITCHEN
Eye and base units with integrated dishwasher, eye level oven, spotlighting, extractor fan, four burner gas hob, single drainer sink, laminate floor

BATHROOM
Towel rail, three piece plus shower attachment, tiled walls and floor

Hallway with laminate flooring, radiator heating

CONSERVATORY
11’8 x 9’11 (3.55m x 3m) Double glazed windows with uPVC patio doors to garden, wall mounted gas fire

LOUNGE
Gas fire brick surround, spotlighting, laminate flooring, separate entrance from front, plus store

OUTSIDE

Part patio, part lawn and rear entrance.

Commercial Funding

Having been in the trade for many years we have established good connections in the finance sector. Our association with these Banks and Commercial Brokers mean that we are able to offer you introductions to competitive finance packages, for a new purchase or refinance purposes alike. Whether it is initial advice on your likely purchase level or if you are at the point of making an offer, you will often be able to achieve preferential rates, possibly saving you thousands of pounds. Please call for more information.

IMPORTANT NOTICE
JD Commercial for themselves, and for the Vendors of this property whose Agents they are, give notice that:
1. The Particulars are set out in general outline only for the guidance of intending purchasers and do not constitute part of an offer or contract. Prospective purchasers should seek their own professional advice.
2. All descriptions, dimensions and areas, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them.
3. No person in the employment of JD Commercial has any authority to make or give any representation or warranty whatever in relation to this property or these particulars nor to enter into any contract relating to the property on behalf of JD Commercial, nor into any contract on behalf of the Vendors.
4. No responsibility can be accepted for any expenses incurred by any intending purchaser in inspecting properties which have been sold, let or withdrawn.

PROPERTY MISDESCRIPTIONS ACT 1993
1. All measurements are approximate.
2. While we endeavour to make our sales particulars accurate and reliable, if there is any point which is of particular importance to you, please contact JD Commercial and we will be pleased to check the information for you, particularly if contemplating travelling some distance to view the property.
3. We do our utmost to comply with this Act in full. However we are also trying to represent our clients’ properties in their high possible light, as such we may use summer photographs to promote some properties.

VIEWING
By strict appointment through the selling Agents, JD Commercial, 42 Ridgeway Drive, Bideford, North Devon. EX39 1TW
TEL: E-MAIL:

Property Information

Property:

Freehold

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