Devon View Guest House 396 Oestermouth Road Swansea SA13

  • Sale Price £500,000
  • Hotels/Catering,Hotel
find a mortgage for £500,000





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Type:
  • Hotel


Hannah Huxtable at RE/MAX Professionals in Morriston is pleased to offer to the market Devon View Guest House, which enjoys prime location on Oystermouth Road. This is a well presented 3 Star Wales Tourist Board rated Guest House which occupies a beach front location on the Swansea Bay Coast Road, overlooking Swansea Bay beach front. It is ideal for a seaside holiday, or for touring the area. Which is renowned for its beautiful beaches, its the direct route around the Bay to the Gower peninsular, Britains first Area of Outstanding Natural Beauty, with The National Museum of Welsh Life and Maritime History, Swansea Museum, Swansea University and Swansea Hospital all located on the same road. Swansea is an exciting and vibrant city with South Wales's premier night life and the largest indoor market in Wales. Having been identifies by the Wales Tourist Board as one of only three areas in Wales for specific tourism growth potential Swansea area. Swansea enjoys excellent transport links being just off the M4 Motorway and Cardiff International Airport is within easy reach, as is the local Swansea Airport, Devon View Guest House lies conveniently on the A4067 road directly off junction 42 of the M4, the first Junction signposted for Swansea.

Business History

Devon View has operated since the 1960's and the present owners have been in occupation for over 7 years.

Devon View is unquestionably the premier Guest House and is the only 3 star Guest House on Swansea Sea Front with Sea Front En-Suite rooms, it benefits from a remarkably high element of repeat business (circa 62%). The property, which has been the subject of significant investment has been refurbished and appointed to a very high standard with long wearing quality finishes such that very littlefurther capital investment will be required in the foreseeable future. The present owners regret having to sell due to deteriorating health and have therefore decided to retire early and this presents a prospective purchaser with an unrivalled opportunity to acquire a highly profitable and easy to operate business with a vast amount of untapped potential, together with comfortable seperate private accommodation.

Devon View has 18 letting rooms but has only traded with 14 rooms due to the balance being used by family and for storage during the refurbishment programme. Seven of the rooms have quality en-suite facilities and all other bathrooms have also been refurbished. As the refurbishment programme is almost complete the storage requirements havereduced and one of the extra rooms has recently been commissioned and is now in operation. Two of the extra rooms are currently occupied by family and the 4th extra room is still used for storage. This room has been decorated and is almost ready to let. The extra rooms on-line represent a 28.5% increase in room capacity on the previously traded number of 14. As they are single rooms it is envisaged that they will be equally as busy as the existing single rooms due to the constant demand for single accommodation.Trading hours have been restricted to 7am-6.30pm 6 days per week and 1 day per week is not open for business. Again this offers significant opportunities for a prospective purchaser to take advantage of the currently significant under trading potential of the business. There is a fully fitted commercial kitchen, new bar,quality seating seating in the dining room and beautifully decorated private quarters. The dining room has new carvery units with hot plates which is currently unused as our clientonly offer bed and breakfast. There is a current redidents and restaurant liquor license in place.

This is a business which can be run on a minimum of fixed overheads. The present owners are anticipating sales for the current year in excess of £125,000 with an 83% Gross profit and a 72% Net Profit. They consider there to be tremendous scope for the introduction of restaurant catering due to a trial period conducted last year with an income of £10,000 taken in the 2 week trial run. This together with bar income which is currently only trading on a request only basis suggests that the estimated potential extra earnings from both the bar and the restaurant, of £300,000 - £350,000, is not unreasonable to expect. Therefore, in the hands of an enthusiastic and committed prospective purchaser this is a business which could realistically achieve gross sales of £400,000 - £500,000 per annum with no comparable competition in the area.

Devon View is the conversion of two adjoining Victorian Style properties into one interconnecting premises which benefits from a Restaurant and Residential Licence. It is built in the main of brick under tile roof and is set back from the road behind an exceptionally well planned and maintained flower garden area. It is in the possession of a Gold Award for Hygiene and has won the Swansea in Bloom Competition on 2 occasions and has come second on four occasions.

This is a genuinely unique opportunity to acquire premier sea front Guest House, which is already highly profitable and has immense potential to increase trade. Early viewing is very highly recommended.

Financial Profile

W/T: £2115 approx

GP: 84%

Open

All year round

Tenure

Freehold

Property Details

4 storey, brick built double terrace building with many retained Victorian features, offering 18 guest rooms, accommodating 38 guests, quality furniture and co-ordinated quality bedding, front patio area with hardwood seating and tables.

Ground Floor

Entrance lobby

Entrance Hall

Reception with Guestmaster V9.01 computer system with 4 years database of customers

Main stairs to rooms 1 - 10 (no rooms 4 & 8)

Residents lounge with comfortable settees, large screen TV, Storage cupboard, welsh dresser

with tourist information and bay window to front.

Bar Area with tables and seating and fully stocked bar with subtle lighting.

Ladies and Gents Toilet.

Hallway to second stairs to rooms 11 - 20 and emergency exit.

Restaurant with high back banqueting chairs and tables, carvery units with wine racks under,

rotating dessert display chiller, TV,serving door to kitchen, bay window to front.

Fully fitted commercial kitchen, 2 x 5 ring gas hob ovens, full extraction system, antislip floor

tiling, commercial dishwasher, 33 door storage cupboards and various shelving, 2 x large

skylights.

Laundry store, bedding, towelling.

Private Dining Room, window to rear.

Private entrance and hall, rear lane access.

Private lounge, feature fireplace, window to rear.

PrivateBathroom, electric 9.5kw shower bath, WC, Hand Basin quality waterproof marble effect

walling, down lighters.

Dressing room

Walk-in wardrobe.

Stairs to private bedroom.

First Floor

Private Double bedroom, built-in wardrobes, window to rear.

Boiler room, gas commercial boiler.

2 x Family Rooms En-suite, Shower, WC, Hand Basin, Vanity Unit, Bay Window to Sea Views.

1 x Standard Single Room, Hand Basin, window to sea views.

1 x Double Room En-Suite, Shower, WC, Hand Basin, window to rear.

1 x Double Room En-Suite, Bath with Shower over, WC, Hand Basin, window to rear.

1 x Standard Twin Room, Hand Basin, window to rear.

1 x Standard Family Room, Hand Basin, window to rear.

Bathroom with shower,WC, window to rear.

Storage Cupboard

Second Floor
2 x Family Rooms En-Suite, Shower, WC, Hand Basin, Vanity Unit, Bay Window to Sea Views.

1 x Standard Single Rooms, Hand Basin, window to Sea Views.

1 x Standard Single Room, Hand Basin, window to rear.

Shower room, shower, WC.

Standard Family Room, Hand Basin, window to rear.

Standard Twin Room, Hand Basin, window to rear.

1 x Double Room En-Suite, Shower, Hand Basin, WC, wndow to rear.

Third Floor

2 x Standard Single Rooms, Hand Basin, Window to Sea Views.

1 x Standard Twin/Double Room, Hand Basin, window to rear.

1 x Standard Family Room, Hand Basin, Window to Sea Views.

5 x Storage Cupboards

Rear External Fire Escape to first floor.

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Property reference: rmwl999000190