Popular Guest House In County Durham For Sale

Business description

We are delighted to offer for sale this, which was established by our clients in 1971 and which is only now offered to the market due to our clients' wish to retire. The business trades all year round and generates a turnover in the region of £80,000 per annum with a gross profit of 70%. Central Guest House offers 27-letting rooms, which have been well-maintained, however we feel they could benefit from a refurbishment and perhaps modernisation. The business has an excellent reputation and is renowned for competitive rates and a friendly service. We feel the turnover could be further increased by embarking on a modest marketing campaign and perhaps introducing a website with online booking facilities. The premises are well-equipped with a spacious dining room and a large kitchen. There is the opportunity to utilise the dining room and kitchen and offer an evening food menu, which would increase turnover. The premises also boast 1-bedroom owners' accommodation, with lounge. This is an ideal opportunity to acquire an already popular guest house, with huge scope for future development. Early negotiations with us must come highly recommended.

Property information

Property:

Leasehold

Lease terms:

Original length: 10 years
Remaining: 1 year
Review: every 1 year
Rent: £25,521.60 per annum

Leasehold rent:

£25,522 per annum

Location:

Central Guest House occupies substantial premises, ideally located on the edge of Darlington town centre, County Durham. The premises benefit from ample parking and are surrounded by many residential properties, along with a variety of complementary shops and businesses. The town centre is close by and there are good public transport links with numerous bus stops and the railway station within easy walking distance. Darlington lies on the River Skerne and was home to the world's first publicly subscribed passenger railway. The business boasts easy access to the A-road network and the A1(M) is less than 5 miles away. Middlesbrough lies approximately 14 miles to the east, while Newcastle is 35 miles to the north.

Premises details:

Substantial 3-storey guest house premises with 27-letting rooms. Briefly comprising:

Accommodation
• 1-bedroom owners' accommodation with lounge
• Spacious guest dining room
• Large kitchen
• 27 x letting rooms
• 8 x WCs with wash hand basins
• 3 x bathrooms
• 2 x shower rooms

Business Operation

Trading hours:

All year round