Status: Completed
Tenure: Leasehold
Leasehold Rent: £11,500 per annum
Turnover: £50,000
7 Bedroomed Guest House With Owners Accommodation7 Bedroomed Guest House With Owners Accommodation7 Bedroomed Guest House With Owners Accommodation
£79,700 + SAV

7 Bedroomed Guest House With Owners Accommodation

Completed
  • Reference: 12464
  • Location: Cambridge, Cambridgeshire
Hilton Smythe welcomes to the market Old School Guest House. The business was originally established by our client in 2005. The owners are now looking to sell the guest house due to the desire to focus on other business interests.

The business runs as a guest house offering a bed and breakfast service or room only option. The rooms boast coffee facilities, TV and free wireless internet. This former school has been converted well into a guest house. The layout is fantastic and is easy to manoeuvre round. It was originally transformed in 1993 but then received a refurb in 2006.

The business generates an advised turnover of around £50,000 per annum, with a gross profit of 90%. Our current owners have run this business at a steady pace to suit them. This guest house is located just a few miles away from Cambridge and so with a purchaser who can put more hours into the business there could be a rapid increase in turnover.

The guest house has a website www.oldschool-guesthouse.co.uk which has a photo gallery of the property. There is also some further information on the history of the premise. The website could be improved by adding a booking system. An online booking system and price list should attract more custom.

The business has great reviews on TripAdvisor, from some very happy customers. The business is not yet registered with any booking websites. Sites such as Booking.com and Laterooms are great ways of attracting customers. Online booking is a very easy way of booking visits, the new owner should definitely look to advertise on these sites.

This is a rare opportunity to run a leasehold guest house. The freehold price is around £800,000, our clients own the freehold and insist that electrical works must be approved and carried out by his company. The boiler must also be serviced by the owner's engineers.

The guest house would be perfect for a husband and wife team, with a family. Included in the rent is a spacious four bedroomed owner's accommodation. Each room is a double and the master bedroom comes fitted with an en-suite.

This is a fantastic opportunity for a purchaser looking for a change in lifestyle. This is a close community that would accept the new buyers. Hilton Smythe highly advise early viewing to take in the full potential of this guest house.

TENURE

We are advised the business is leasehold.
Original lease length: 5 years
New 5 year lease available as off 2016.
Rent: £ 11,500per annum

HOURS

The business is open all year round whenever required.

STAFF

The business is run and managed by our clients.

FINANCIAL PROFILE

The business generates a turnover in the region of £50,000 per annum.
Gross profit 90%
Old School Guest House is located in Waterbeach village, Cambridgeshire.

The guest house is situated on the large village green. This is a prominent residential area with very few shops. There are convenience stores, pubs, bed and breakfasts, a bakery, car sales and more. Directly outside the premise is free on street parking and to the back of the property are several parking spaces for customers.

This is a great location for a relaxing break. The village allows for a peaceful feel, although there are lots of attraction around such as museums, country parks and places to site see.

The village has great public transport to surrounding towns. There is a bus stop directly facing the premise with regular daily routes. There is also a train station which is just a short walk away. Also close by is the A10 which is a main A-road that runs from Cambridge up to Kings Lynn. The centre of Cambridge is approximately 6 miles away.
The business is well-presented with a beautiful fenced off garden. There is a sign at the front of the premise, which is clear to passing trade. This is a large property that is suitable for the trade. There is a car park to the rear of the premise for 8 vehicles.

Ground floor
Guest House-
Front door (original school entrance) leads to:
Reception area with counter/desk
Passage to all guest rooms (all have tea/coffee making facilities & flat screen tv, hairdryer, trouser press, alarm clock, internet access)
3 x double door storage cupboards.
Fire exit to rear
Room 2 - Single with en-suite shower
Room 3 - Double with en-suite shower
(these two rooms have inner connecting door so can be offered as family suite)
Room 4 - Twin with en-suite shower
Room 5 - Twin with en-suite shower
Room 6 - Twin with en-suite shower
Room 7 - Double with en-suite shower
Room 8 - Twin with en-suite shower
Conservatory/Guest Lounge with seating, fridge, microwave, TV with DVD player.
Breakfast Room - up to 20 covers, service dresser unit (2 of)

Owners Accommodation-
(separate front and rear doors with access to guest area via breakfast room)
Front Entrance door into hallway and stairs to 1st Floor
W/c
Lounge with feature fireplace
Dining Room with feature fireplace
Fully fitted kitchen with granite worktops, 6 x burner range/double oven & grill, quality base and wall units, Belfast sink.
Utility Room with 2 x fridge/freezers, dryer, washing machine, dishwasher, s/s sink, wall and base units

First floor
4 x double Bedrooms (master bedroom with en-suite bathroom & separate shower cubicle)
Family Bathroom with separate shower cubicle
Office
Loft space for storage