The subject property is situated on Castle Street in the centre of Warkworth, a picturesque coastal town within Northumberland. The B&B is well regarded both locally and with the tourists who visit the area. The B&B is north of Newcastle, 7 miles from Alnwick and 15 miles from Morpeth.
The subject property comprises a significant stone-built property situated on Castle Street in the Northumbrian seaside town of Warkworth. The property comprises five bedrooms and four bathrooms spread over two floors, it also benefits from two receptions.
The large kitchen has some commercial elements to provide for guests, this could be expanded or converted back into a more traditional residential style.
The property is Grade II listed under the Planning (Listed Buildings and Conservation Areas) Act 1990.
Externally there is a large mature garden with outbuildings, several patios and back gate access taking you down to the river.
The B&B offers five bedrooms and four bathrooms including three en-suites. There are also two receptions with the option to turn the dining room into another reception.
The Old Post Office at Warkworth is an award winning bed, breakfast and bistro that has been running successfully for 7 years. With high occupancy rates and rave reviews on Trip Advisor the subject premises makes an ideal business for a potential buyer to walk into and take over. Northumberland is a county where tourism is on the up and recently published visitor rates report an increase of 207%.
The B&B and bistro (the bistro opens 2 nights weekly with 20 covers each night) currently run as 2 businesses and so there is potential to continue both or just focus on one. There are significant bookings for this year and the current owners would be happy to provide training and advice for potential new owners. Please take a look at the business website www.warkwortholdpostoffice.co.uk with links to the Facebook page and Trip Advisor reviews. Our clients are happy to report there is an annual turnover in excess of £100,000, which includes both businesses being closed for 14 weeks each year to allow rest time.
||Estimated Rates Payable
|Guest house and premises||£4,750||£2,280|
We are advised that the rateable value of the premises as at 1 April 2017 is £4,750 and we have estimated the accrual rates payable for the current year above. This is based on the standard Small Business Rate of 48p in the pound. However, interested parties should confirm the current position with the Local Authority.
The subject property is available by way with offers invited in excess of £495,000 (Four Hundred and Ninety Five Thousand Pounds).
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.
Each party is to bear their own legal costs involved in the transaction.
MONEY LAUNDERING REGULATIONS
In accordance with the Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.
For general enquiries and viewing arrangements please contact Jamie Wales or Jessica Wilce at Bradley Hall.
Tel: 0191 232 8080
Tel: 01665 605 605