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Hotel for sale

St. James Place, Ilfracombe, Devon, EX34

Sold STC £475,000

Property Description

Full description

Tenure: Freehold

In a prime trading position between the seafront and the harbour, The Acorn Guest House is ideally placed for the holiday trade with three public car parks nearby. The property is within level walking distance of beaches, the seafront and all tourist amenities. Nearby is the Wetherspoons public house as well as the famous statue on the pier, donated to the town by the world renowned artist Damian Hirst called 'Verity'. Ilfracombe is attracting investments from some major national companies including Premier Inn, who have acquired a site in the town and Costa Coffee who have just obtained a High Street premises.

This is a classic Victorian property, which operates as a thriving guest house, tea garden and licenced restaurant. The premises offer 8 letting bedrooms as well as a one bedroom private owner's suite. The tea room (which has not traded for the last 2 years out of choice) offers 20 covers plus seating in the tea garden outside to the front. There is a small garden to the rear, as well as a chalet, store and shed. The premises has gas fired central heating and will be offered fully furnished and equipped as a going concern excluding those items of a personal nature.

This is a genuine retirement sale after 10 happy years by the owners who are currently in their early seventies. The guest house has produced consistently high turnover figures and healthy profits. The business now opens from Easter to October.
The business now trades purely as a Bed and Breakfast establishment by choice as the tea room closed two years ago. The takings to the end of March 2016 were £68,363. The potential for a licenced tea rooms and tea garden restaurant could boost this figure to a total of £100,000 with a young enthusiastic couple seeing the potential. Details of the accounts will be made available upon request. If you are seeking a secure income and a real lifestyle business that opens from Easter until October then this is a great opportunity for you.

The accommodation briefly comprises:

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