8 bedroom guest house for sale

East Street, TQ13

Sold STC £795,000

Property Description

Commercial information

  • Business for sale

Key features

  • Impressive and Substantial Georgian Villa
  • 6 Ensuite Letting Bedrooms
  • Letting Apartment and 1 Bedroom Letting Cottage
  • Impressive Levels of Trade and Ongoing Bookings
  • Attractive Boutique Bed and Breakfast
  • Exceptional Business Opportunity

Full description

Tenure: Freehold

79 East Street is an impressive grade II listed Georgian Villa originally constructed in 1814 as a private residence and subsequently converted into a hotel. Currently a high quality bed and breakfast this impressive property is extremely well presented throughout having been in the current ownership for 25 years and having been sympathetically and fastidiously maintained and improved to exacting standards. Consequently the property is exceptionally well presented throughout and provides an excellent operating environment which still offers further potential as a lucrative bed and breakfast business and family home. This high quality property briefly comprises: - Impressive Residents Lounge, Breakfast Room (14), Kitchen with Breakfast Servery Area and separate Washup Area, Utility Room, spacious Principle Reception Room with adjoining Orangery (offering potential as an owners apartment or as an additional letting unit subject to the necessary consents), 6 high quality Ensuite Letting Bedrooms, a Letting/Owners Suite with Double Bedroom, Bathroom and Sitting Room and Kitchenette. Additionally, there is a stone built Letting Cottage to the rear with Lounge, Shower room and Double Bedroom. Also to the rear of the property is an enclosed Private Walled Garden on two levels incorporating a Patio Area, Lawned Garden, Decked Area and Summer House with stone built BBQ Area.

The property occupies a prominent and highly visible trading position within the heart of the thriving moorland town of Ashburton. Ashburton is an appealing and popular ancient stannary town set on the southern fringes of Dartmoor National Park, which has a wide range of amenities and many independent stores including a delicatessen, a fish deli, an artisan baker, and a range of antique shops that make the town a most popular and appealing destination. The town has a thriving arts, music and food scene and hosts numerous festivals throughout the year, such as the Contemporary Open House Art Event and the Traditional Ale Tasting and Bread Weighing Ceremony. As well as serving an active resident town population and various smaller outlying communities, Ashburton is the gateway to Dartmoor and attracts many thousands of visitors and is the perfect base from which to explore the spectacular landscapes of the moors and the South Devon coastline with its sandy beaches and sheltered coves. Ashburton has excellent transport links with immediate access to the A38 Devon Expressway, which provides excellent links to the Cathedral and University City of Exeter (20 miles), and the historic naval port City of Plymouth (25 miles).

Main entrance door to the front into Reception Lobby with door into Reception Hall with door to rear, stairs to upper floors, coved ceilings and doors to attractive Guest Lounge with striped wood flooring, dado rail, picture rail, window to front, decorative fire place with a marble surround and mantle and storage built into the recceses on either side. Breakfast Room with stone flooring, part wood panel walls, French doors to the rear courtyard, built in dresser unit, range of freestanding wooden tables and quality high backed dining chairs comfortably seating 14 guests. Open plan Kitchen/Breakfast Servery, kitchen area with altro flooring, part tiled walls, range of modern fitted base kitchen units with complimentary work surfaces, open shelving, built in 4 ring electric induction hob, electric oven, hot water still and stainless steel sink unit. Open plan to breakfast servery area with slate flooring, range of modern base kitchen units and complimentary work surfaces forming a self service breakfast bar area with matching wall cupboards, French doors to rear garden. Wash up Area with altro flooring and wipe clean clad walls, with commercial glass washer, Samsung American fridge freezer, chest freezer, racked shelving and stainless steel deep bowl sink unit. A Large Reception Room the other side of the reception hall has previously been used as a training kitchen and would make an impressive additional reception area or could be reconfigured to provide a restaurant, or owners private quarters or even a further letting bedroom, subject to the necessary permissions. French doors lead through into an Orangery/Sunroom - an attractive room with original tiled flooring and high glazed roof with door to front. Utility Room with altro flooring, 2 washing machines and a tumble dryer and door to rear.

The property currently offers 6 well appointed high quality ensuite letting bedrooms on the first and second floors, an impressive lettings/owners apartment on the first floor and and a separate letting cottage to the rear. All extremely well presented and furnished to a high standard and offering remote control coloured televisions, tea and coffee making facilities, hair dryers and wifi, the well proportioned bedrooms briefly comprise: - Bedroom 8 - a good sized kingsize double bedroom on the first floor with aspect to front, original fire place (disused), and an ensuite shower room.

Bedroom 9 - a double room on the first floor with aspect to rear and and ensuite bathroom with shower over bath. Lettings/Owners Apartment on the first floor comprising - kingsize double bedroom with aspect to rear and built in wardrobes, bathroom with shower over bath and attractive sitting room and kitchenette area and modern base and wall cupboards, complimentary work surfaces, built in electric hob, electric oven, sink and appliances including microwave oven, fridge freezer and extraction unit. Sofas, carpeted flooring and dining table area. Bedroom 10 - a king size double bedroom on the second floor with aspect to rear, feature fireplace (disused), ensuite bathroom with shower over bath. Bedroom 11 - a twin/double zip and link bed on the second floor with aspect to front and an ensuite shower room. Bedroom 12 - a good sized kingsize double bedroom on second floor with seating area, dual aspect to the front, decorative fireplace and ensuite shower room. Bedroom 14 - a double bedroom on the second floor with aspect to rear and an ensuite shower room. To the rear of the property a character white washed stone cottage provides an Independent Self Contained Letting Unit with a double bedroom, a shower room and a lounge, all having been refurbished.

The spacious accommodation provides excellent options for live in owner's accommodation dependent on requirements. The first floor apartment would provide an attractive self contained owers apartment and there are opportunities to convert the spacious ground floor reception room to create spacious owners accommodation, subject to the necessary consents. An internal inspection is essential in order to fully appreciate the spacious and flexible layout of this most impressive property.

Floor plans are available upon request.

To the rear of the property is an attractive Enclosed Walled Garden, enjoying a high degree of privacy and incorporating a private flagstone Patio Area with steps leading up to a Further Attractive Enclosed Garden Area mainly laid to lawn and bordered by flowerbeds and shrubs and enjoying a high degree of privacy, and incorporating a Further Patio Area., a Summer House with adjacent Decked Seating Area and a stone built Barbecue Area. Timber Storage Shed.

79 East Street has been trading as a high quality Bed & Breakfast/Guest House and been successfully run for the past 25 years exclusively for the customers of our clients. Offered for sale now as a "turn key" Bed & Breakfast business with the benefit of extremely lucrative forward bookings. Also offering the opportunity to develop an ongoing business relationship with our clients and continue to be their preferred and recommended accommodation provider, if so desired. The property has been fastidiously maintained and improved during recent years and consequently the business is presented to an exceptionally high standard throughout. Currently the accommodation is offered exclusively to our clients' leisure students who stay on a bed and breakfast basis with a Continental breakfast being offered. Undoubtedly there is potential to open up the rooms to all paying guests and develop trade beyond current levels to further enhance the impressive sales which are already being achieved.

Our client runs cookery courses 7 days a week across 4 kitchens for up to 52 students a day. Whilst the B&B businessis a good profit centre, the cookery school is looking for a new owner of 79 East Street in order to concentrate on growing their core business of cookery courses and develop new training kitchens. The bed and breakfast business is made up of two types of guests currently, leisure course customers (weekend and 5 day courses) and chefs academy (4 week and 6 month stays). It is our clients intention that new owners of 79 East Street will be referred the leisure course customers and it should be noted that they have no plans to change their leisure course offering in the future. There will also be opportunities to accept long stay students should new owners wish to consider this. There are also opportunities to develop the property to provide further owners or letting accommodation, subject to the necessary consents and permissions and even the potential to develop a restaurant, dependent on requirements. The sale of 79 East Street offers enormous potential for new owners to either operate the business on a profitable lifestyle basis below the VAT threshold or to maximise all available income streams and create a most profitable multi-faceted business. An internal viewing is essential in order to fully appreciate all that this impressive business and property has to offer.

The trading information provided for the year ending 31 January 2018 shows an income of £93,333 net of VAT with a 60% occupancy level being achieved. Our clients advise that a realistic total revenue potential in excess of £164,000 could be achieved based on 7 rooms (removing the apartment for use as owner's accommodation) at the current base room rate of £69 per night. In 2018/19 our clients expect to be able to refer at least £120,000 of leisure customer business to 79 East Street. Full detailed accounting information and confirmation of advance bookings etc can be provided to interested parties following a formal viewing appointment.

The current tariff is from £69 per night for a single guest up to £109 per night for double occupancy.

Listed building and therefore exempt.

All mains services are connected to the subject property and 3-phase electricity is connected.

£795,000 for the valuable freehold interest and full trade inventory. Vacant possession upon completion.

An early discussion about finance can often save time and disappointment. If you would like independent specialist advice on funding this property or any other purchase, we recommend you contact us for a list of our approved brokers.

Strictly by appointment with the vendors Sole Selling Agents. Tel: (01392) 201262 Email: info@stonesmith.co.uk. You are recommended to contact us before visiting the property even for an informal viewing. We can then confirm whether or not it is still available.

More information from this agent

Nearest station

  • Totnes (6.1 mi)
Distances are straight line measurements from centre of postcode

Map & Street View

Nearest station

  • Totnes (6.1 mi)
Distances are straight line measurements from centre of postcode

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