Thriving Four Star Lincolnshire Guest House For Sale

Business description

The Tennyson provides its current owners with a very comfortable and profitable life style. Situated, as it is, to the South of the City on a junction of 3 busy major roads. In addition to providing the business with ample passing trade this location also makes it easy for guests to to find and gives them quick access to the attractions of the City.

Guests are given comfort, warmth, a substantial breakfast and many other facilities to make their time away from home that little bit easier. This includes Freeview TV, free WiFi and the use of a dedicated guests’ computer. This has resulted in a substantial repeat trade.

The business enjoys a 4 star AA accreditation, a 4 Star Hygiene grading from the Lincoln City Council and an energy performance rating of ‘D’.

There are no financial or legal ties and the sale includes the owners private accommodation with lock up garage.

The Tennyson offers the buyer an easy to operate small business which, if required, will provide a good, solid foundation from which to either extend into a small bespoke hotel and restaurant or as a base for other activities.

Property information

Property:

Freehold

Living accommodation:

The owners' living accommodation consists of a private lounge, double bedroom, bathroom, with a further singe bedroom currently used as an office. The 2 large cellars provide more than adequate storage space. Outside there is an enclosed patio, lawned area and garage. The access to the owners' accommodation can be secured from the business side of the operation.

Location:

The Tennyson is located at the southern end of Lincoln on the A15, adjacent to the junction of the A15, A1434 and the bottom of the High Street, and opposite South Park Common. This location makes The Tennyson easy for guests to find irrespective of their approach to the city.

Premises details:

The Tennyson is 2 semi-detached town houses converted into a single detached property with a limited amount of off road car parking secured by CCTV. It has 8 en-suite, fully equipped, letting rooms, currently designated as 2 single, 1 twin and 5 doubles. A fully equipped dining room with a dumb waiter containing spare table ware, crockery and cutlery. A small guests' lounge used for meeting, browsing magazines or using the guests' computer and printer. The kitchen consists of a 6 burner gas cooker, gas grill, electric griddle, microwave cooker, electric dishwasher and a full complement of tools and utensils. The prep room has 2 steel tables, 2 freezers and 2 fridges, a commercial washer and dryer, pantry and a full complement of tools and utensils. The premises benefits from gas fired central heating. It has easy to maintain gardens to front, rear and one side.

Other information

Expansion potential:

As a matter of policy the vendors only operate 6 of the 8 rooms available and restrict trade to below the VAT threshold level. Accordingly, releasing these rooms will, based on current occupancy levels, immediately offer an increase in turnover of 15%. However, with more aggressive marketing and an acceptance of VAT, turnover can easly be increased by more than 25%. The current owners close over the Christmas period, however, there is a growing need for B&B accommodation for families visiting the nearby domestic housing.
The 2 large, warm, dry cellars, currently used for storage, could easily be converted to office space, accommodation, hobby rooms or even for growing mushrooms for breakfast!
The kitchen & prep room are of commercial standard and provide the purchaser with the opportunity of providing evening meals to guests and visitors.
With the Guests’ lounge located over a cellar, the provision of a wet bar in the Guests’ lounge would present few problems.
Although the business is operated on a 4 star basis there is provision and facilities for up grade to 5 star and the corresponding lucrative luxury market.
The conversion of the property from 2 to 1 can be simply reversed. This would give the developer a flat and 2 houses.
The garden to the side could be converted to a car park giving extra parking and the option of a second entrance.

Competition / Market:

There are 2 other guest houses in the area but due to its location, 4 Star grading and the Service it offers The Tennyson's occupancy rates are well above the local and regional averages. It It has the advantage of both commercial and private trade all year round with a healthy level of repeat business, both national and international. Lincoln University with its student population of over 10,000 provides a steady trade from visiting family, friends, and prospective students. Because of its location to the South side of the city the Tennyson benefits greatly from local families and friends, considerable passing trade, buyers and sellers at the antique fairs of Swinderby and Newark, visitors to the Waddington Air Show, and the Lincoln Christmas Market.

Support & training:

The vendors will provide the viewer with any required details such as occupancy rates, summary of accounts, operating costs, advertising schedule, and local information. The vendors are willing to provide the purchaser with training in guest house operation, management, IT, a prospect guest list and a full admin package.

Reasons for selling:

Retirement

Trading hours:

As required. Currently, 02 January to 23 December

Financing available:

Finance is available for the purchaser of this business through Lloyds TSB or ASC Finances

Furniture / Fixtures value:

£200,000 (included in the asking price)

Website:

www.enquiries@thetennyson.com