Profitable Freehold Guest House In South East London For Sale

Business description

The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favourable lease terms (see below).
- Turnover in excess of £145,000 pa with a net profit of £58,000 (see financial summary below).
- A business with great potential.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a husband and wife team.
- Low rates.
- Very low overheads.
- Business enjoys superb local reputation
- The concern provides Bed & Breakfast and has a fully licensed bar.

History
Phoenix Business Transfer Agents are delighted to place onto the market this profitable freehold guest house which has been established since the 1800’s. The business has been in the hands of the current owner since 2005 and she now wishes to sell due to retirement.

Services
This very good business opportunity provides Bed & Breakfast and has a fully licensed bar.

Staffing
The concern employs 1 full-time and 1 part-time staff.

Owners Role
The owner is involved in the day to day running of the business.

Marketing
The owner markets the business via a website.

Competition
As far as competition is concerned there are other similar businesses in the area.

Market
The client base consists of tourist and business customers.

Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Taking advantage of the dining room and bar to offer evening meals and as a stand alone restaurant.
• Becoming more efficient with staffing levels.
• With an enhanced website.

Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made.


The present annual turnover is £150,000 and a net profit of £58,000.
The potential turnover of the business within the next 2 years is forecast to reach £216,000 pa given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.

Property information

Property:

Freehold

Location:

- Situated in the Greenwich Park and Blackheath area of South East London.
- Prominent location on main arterial road.
- Excellent free parking facilities.
- Perfectly located for the Olympics in 2012.
- Surrounded by densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the A102, A2, A207 and A206.
- Located near the Royal Standard, Blackheath, within two minutes walking distance of the Blackheath Common and Greenwich Park. A short walk to the bustling centre of historic Greenwich and its many attractions, including the Queen’s House, the Cutty Sark, the National Maritime Museum and the Royal Observatory and Planetarium including the world famous Greenwich Meantime World Clock. Greenwich has a famous arts and crafts market. Also close is the historic Charlton House, the new O2 entertainment centre at the Greenwich Millennium Dome and charming Blackheath village. Also in easy reach of the City are the docklands and the City Airport. Well connected with Westcombe Park train station which is just two minutes walk from away.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area.

Premises details:

The property is semidetached. The property is a refurbished Victorian hotel which provides warm, comfortable and safe surroundings while retaining many of the building’s fine original features. There are 7 guest rooms. All bedrooms are en suites, some with private jacuzzi baths or showers, a guest lounge and a fully licensed bar facility

To the rear is a store room. There is a toilet, staff facilities and a fully fitted kitchen.

External
To the front there is a small car park for up to 3 vehicles.
To the rear is a well presented garden with a decked area and outside seating.

Business Operation

Expansion potential:

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Taking advantage of the dining room and bar to offer evening meals and as a stand alone restaurant.
• Becoming more efficient with staffing levels.
• With an enhanced website.

Competition / Market:

As far as competition is concerned there are other similar businesses in the area.

Reasons for selling:

now wishes to sell due to retirement.

Trading hours:

Open 7 days a week.

Employees:

The concern employs 1 full-time and 1 part-time staff.

Years established:

211 years

Other information

Support & training:

The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Furniture / Fixtures value:

£50,000 (included in the asking price)