Plymouth, PL1

Established Freehold 7 Bedroom Guest House In Plymouth For Sale

Stunning Views Over Plymouth Sound

Ref 2109

Location

Crescent House is located in a quiet crescent of Victorian houses just a stones throw from Plymouth Hoe promenade which lies in the heart of the City of Plymouth on the beautiful South Devon coast line. Plymouth is a port city known for its maritime heritage and historic Barbican district with narrow, cobbled streets.

Plymouth is the largest City in Devon and enjoys all year round trade with easy access via the A38/M5 and mainline railway station .

Business information

Asking price: £354,950

Turnover: £56,128

Gross Profit: £52,444

Adjusted net profit: £41,521

Rates: Zero

Business Description

Veritas Business Sales are delighted to offer for sale this respected 7 Bedroom Guest House which is located in the vibrant City of Plymouth in Devon. The business has been established for over 40 years and has been in the careful hands of my client for the last 17 years and is reluctantly the business is being offered for sale so they can enjoy a well deserved retirement. Since ownership they have continually refurbished and invested in new fixtures & fittings which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. The business is owner operated requiring no staff and has an annual turnover of £56,128 with a GP of £52,444 returning a modest adjusted net profit of £41,521. All rooms are en-suite except one, with gas central heating, flat screen TVs and complementary tea & coffee making facilities. Room tariffs range from £30 for a single to £80 for a family room per night on a B&B basis. We believe that there is further potential to increase trade should you wish as our client chooses to operate this at a gentle pace to trade under the VAT threshold. In the past they have opened the restaurant for evening meals so there is further scope there. The business enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade. This is a superb opportunity to purchase an established lifestyle business which is a great base to build upon and as such early viewing is highly recommended as this business is not to be missed.

Ground Floor

Reception entrance and hallway

Catering kitchen with: fully fitted kitchen, 8 ring cooker, sink with drainer, stainless steel fridge freezer, (Hotpoint), fridge (Beko), dishwasher (Rosh) and extractor hood.

Private Lounge with 2 x settees, desk and TV

Guest breakfast/dinning room with: tables and chairs for (14), built in cupboards, dresser, and bay window with double glazing.

Additional Room: Double room with en-suite shower room and disabled access.

First floor

Main Landing

Room 1: Double with shower en-suite

Room 2: Single room with wash basin

Room 3: Family room with shower en-suite

W/C with hand wash basin

Owners accommodation with: two interconnecting bedrooms one with a balcony to the rear of the property enjoying stunning views of Plymouth Sound.

Shower en-suite

W/C

Second floor

Landing

Bathroom with: Shower cubicle

W/C with hand wash basin

Room 4: Double room with shower en-suite and stunning views

Room 5: Twin room with shower en-suite and stunning views.

Room 6: Twin room with shower and wash basin

Room 7: Single room with shower and wash basin

Third Floor

Landing

W/C with hand wash basin

Roof garden with seating and stunning views over the Plymouth Sound

Fixtures, Fittings and Effects

Normal fixture and fittings associated with this type of property are included in the sale and a detailed inventory of these will be supplied prior to exchange.

External

To the rear of the property is an enclosed courtyard with door to rear service road.