Hotel/guest house for sale in Larkstone Terrace, Ilfracombe EX34

Overlooking the harbour, pier and Hillsborough the property is well placed for passing trade, fronting the eastern approach road into the town and enjoying glorious sea views from the rear of the property.

Nearby is The Thatch Public House, The Lime Kiln Cafe, the Watersports Centre plus the Larkstone Family Park & Gardens.

The harbour is a short stroll away as are beaches and tourist facilities.

Ilfracombe is a very popular resort on Devon's majestic North Coast with a population in the region of 11,000 which is boosted throughout the year with the influx of tourists. There are several beaches, tennis courts, a golf course and sports pitches.

Barnstaple the regions main commercial town is about 12 miles south inland and there are famous surf beaches at Woolacombe, Croyde and Saunton nearby.

The property

Built in 1869, this six story Victorian town house has been a small hotel/guest house since at least 1882 and the current owners have successfully run it for 21 years having refurbished it to a high standard throughout.
Situated in an elevated position with panoramic views of the harbour and Hillsborough Nature Reserve.
The main entrance is on Larkstone Terrace and has an entrance hall leading to a spacious guest lounge and separate bar.
The floor below provides the breakfast room, office and kitchen facilities.
The whole lower ground floor is utilised as a 2 bedroom owners suite, with lounge and bathroom.
The three floors above the main entrance have three guest bedrooms per floor, of which six bedrooms have the stunning sea views and three overlook the entrance.
The private suite has gas fired radiator heating and the remaining floors have electric heating.
There is parking outside on the main road (there are approximately 40 on street parking spaces along Larkstone Terrace, Hillsborough Road directly at the front of The Collingdale) and the current owners rent 7 spaces in a private car park nearby (an arrangement that may be available to new owners subject to agreement).

The business

A well-presented and respected guest house within the town with excellent reviews on TripAdvisor.
This is a genuine retirement sale after 21 happy years in the same ownership.
Opening from May to September and run by a husband and wife team the turnover is in the region of £85,000 per annum.
This is a highly desirable business with sound profits and scope to increase further.
The business is for sale fully furnished and equipped excluding personal items as a guest house but could equally be converted to flats (subject to planning permission) or used for multiple family occupation.

Agents note

Please note this property is in a conservation area.

Legal advice

We strongly recommend that a buyer takes independent legal advice and instructs solicitors to act on their behalf.
Each party bears their own legal costs unless otherwise stated.

Planning

It is the responsibility of the proposed buyer to satisfy for themselves independently that their intended use complies with existing planning permission by contacting the local council planning department.
The cost of any change of planning use is the buyers responsibility.

Services and utilities

All mains connected. We encourage you to check before viewing a property the potential broadband speeds and mobile signal coverage. You can do so by visiting

VAT

We understand that our client has not opted to charge VAT. All interested parties should make their own enquiries of hmrc.

Viewing

Strictly by appointment through the selling agents.

Rateable value

£5,800 ubr, as of April 2023,47.9p in the £. Our Rateable Value figure has been obtained from the Business Valuation website at the time of the property detail going to print, however, we would advise all applicants make their own enquiries via the Valuation Office or website regarding this figure.
Small Business Rate relief (100%) may apply as the Rateable Value is below £12,000.

Council tax band

A North Devon District Council