Asking price: £975,000

Sales revenue: £192,473

Net profit: £107,602

Fixtures value: Undisclosed

Stock value: Undisclosed

Business description
DOWNS VIEW GUEST HOUSE
CLIFTON, BRISTOL

16 Bedroom B&B with great views across the city
Very good location in Clifton, near the zoo
Mainly commercial, but busy on weekends too
£107,610 profit on turnover £192,473 net of VAT, only around 30% deposit required
£975,000 - Virtual Freehold

Downs View is an ideal city B&B; it is well kept, provides comfortable accommodation for its guests and is convenient for both business people and tourists alike. It has some other obvious advantages, notably the views across the Downs from the front and Clifton and the city at the back, infact all the rooms have a
view, very unusual. It has been run by our client single handed, she raised her family here, and she has also found time to develop other business interests.

The Downs, around 400 acres of public open space, are just across the road and are a “landmark” in the city. The busy A4018 is the main road from Junction 17 of the M5 to the city centre and there are lots of businesses based adjacent to the M4/M5 interchange only 5 miles away. It is a short bus ride to the heart of the
city, so Down View is ideally placed for both the business and leisure guest. British Aerospace and the BBC are nearby and the University of Bristol, the Bristol Royal Infirmary as well as the University of West of England all provide business for the hotel.

Our client bought Downs View in 1978, so it is time to retire and the first time it has been to the market in 30 years. Very high property prices in Clifton over the last few years have resulted in a number of other B&B's and Guest Houses being sold for alternative use, which means that there is less competition from similar businesses. Indeed, the economic downturn encourages those wishing to stay in the Clifton area, but that are on more of a budget, to turn to businesses such as this for their accommodation needs rather than the more formal hotels. That said, the tariff here is still good and the profit very attractive. There is also scope to make more rooms en suite and to benefit from an increased average room rate.

THE PROPERTY
Built around 1840, the accommodation is on 5 floors, though ground floor at the front is in fact level 3 because of the change in ground levels. Stone elevations under a tiled roof. Conservation Area.

PUBLIC AREAS
The approach is across a well kept front garden to a porch and front door. The lobby has a pattern tiled floor that leads into the hall. The breakfast room, which is comfortably furnished and has a large window is on the first of the lower floors. It is normally laid for 18.

LETTING BEDROOMS
16 letting bedrooms to sleep 28 (10 double or twin, 5 singles, 1 family room). 9 of the rooms are en suite with shower, 7 share 2 shower rooms. Each room has central heating radiator, intercom telephon (but could be direct dial with an upgrade), colour television, WiFi access, tea/coffee making facilities and hairdryer. Each room also has a view.

OWNERS ACCOMMODATION
The owner lives in an adjacent property with an interconnecting door. There are a number of options for buyers to either create accommodation within Downs View, without significantly changing turnover as, of course, the business does not run at 100% occupancy all the time, or buy or rent a flat nearby.

SERVICE AREAS
Kitchen. Various stores, including an undercroft, and some basement storage.

OUTSIDE
A small front garden laid to lawn with borders. At the rear, at a lower level, is another area of garden, though little used. Access is via an external staircase.

SERVICES
Bristol City Council.
Mains gas, electricity, water and drainage. Gas heating.

2009 LISTINGS
AA 3 Star Guest Accommdation, VisitBritain 3
Star Guest Accommodation.

TRADE
A profit and loss account, provided by ourclient's Chartered Accountant, for the year ended 31 July 2008 shows a profit of £107,602 on a net turnover of £192,473. Having taken advice from a broker we are advised that a deposit of 30% should be sufficient as the business is so profitable. For more detail do ask.

PRICE
£975,000 is sought for the virtual freehold property complete with goodwill and trade contents (according to inventory) excluding all personal items. Stock at valuation. Two ground leases were granted in the 1840s for 1,000yrs at a rent of £7 per annum, not uncommon in Bristol.

FINANCE
Colliers Robert Barry is able to assist prospective purchasers by introducing sources of finance if required. Whilst we do not charge the buyer for this service, we may receive an introductory commission from the lender or broker involved.

TO VIEW
All appointments to view MUST be made through the vendors' agents who are acting with sole selling rights.

Property: Freehold