Successful Guesthouse For Sale in Lincoln

Business description

Beat inflation with this honey pot business! As the pound drops in value so Britain becomes more attractive to the overseas visitor - the big spenders. The Tennyson is a well founded, successful and popular establishment, superbly located in the City centre. Trading, as it does, to both business and the tourist (domestic and foreign) it benefits from a very solid base of repeat trade and advanced bookings, from home and overseas, giving it an above average occupancy rate
The premises are detached and consist of 8 en-suite letting rooms, guests' dining room and lounge, a commercial kitchen & prep room, 2 very large, dry storage cellars, and owners' accommodation. Outside there is a secure garage, parking for 8 cars, low maintenance garden to the front and side with an enclosed lawn and patio to the rear.
The tennyson has a 4 star accreditation from the AA
The sale includes the highly successful website: www.tennysonhotel.com
However, as retirement looms energy drops and so the current owners only let 6 of the 8 rooms to ensure operation below VAT.
The Tennyson offers the purchaser a thriving business, which provides a rewarding and enjoyable lifestyle in a pleasant environment with a great potential for, the enthusiastic owner, a much increased turnover.

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.

Location:

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

Other information

Expansion potential:

As a matter of policy the vendorsonly 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 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

Competition / Market:

Because of 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, and IT.

Reasons for selling:

Retirement

Trading hours:

As required

Financing available:

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

Website:

www.guesthousesale.plus.com