10 bedroom detached house for sale

Newark Road, Lincoln, LN6 9NG

Available £595,000
  • Bedrooms: 10
  • Bathrooms: 9
  • 5000 sq ft
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Summary

10 Bed, Detached, For Sale

Description

Key Features
Guest House with 6 en-suite guest rooms
2 recently added en-suite self contained apartments
Large property presented to a high standard (4 star with gold award for excellence + breakfast award)
Good Repeat Trade - scope to increase currently operating on 80% occupancy to suit the owners

Full Details
New to the market this exceptionally spacious and luxurious guest house.

The Gables Guest House has been in existence since 1999, but has recently
enjoyed a complete overhaul and exciting additions to its accommodation.
Not only does it boast 6 en-suite single, twin and double rooms, but 2 separate en-suite self-contained apartments, one of which is truly spacious and luxurious. (used for bed and breakfast or longer term lettings)

The house and annexe also boasts Wi-Fi connection throughout along with separate spacious private accommodation

In addition, there is a large double / triple size private garage and off street parking for at least 10 guest's cars.
The business presently enjoys a well above average turnover which will undoubtedly increase due to the recent addition of the 2 separate self-contained apartments, and achieves an impressive occupancy level of circa 80% (latest accounts will be made available to seriously interested parties AFTER viewing AND AFTER proof of funds have been verified)
Despite all the above, this business is run at a pace to suit the present owners and the potential to increase turnover is vast. At present the owners provide a bed and breakfast only service and the reason for selling is their wish to retire
Early inspection of this 4 Star Gold award quality guest house cannot be recommended highly enough.

NB: The Gables have installed a solar pv array of 5.39kw to generate their own electricity which returns approximately £2200 per year from the feed in tariff with this being guaranteed for the next 21 years
There is also installed solar thermal water heating (40 tubes) which heats a 300 litre water tank up to 60 degrees Celsius

There is also have a rain water harvesting system in place which can collect 2400 litres of rainwater at any one time for running the washing machine (Triple filters in place)
The Gables comes ready to trade from day one
Just walk in, unpack your bags and start trading

As has been found out already any prospective purchaser will need to have a minimum of 30% deposit and we will ask for proof of this before we undertake a viewing of the property

PROPERTY INFORMATION

Property: Freehold
Freehold
Living accommodation:
A large detached brick built house with six letting rooms plus with 2 en-suite apartments and large double / triple garage.

Briefly comprising:

GROUND FLOOR: Front entrance leading into large hall. Office. Double aspect dining room accommodating up to 12 covers
Door leading to private accommodation
Guest toilet with basin
Stairs leading to letting rooms
FIRST FLOOR: 4 large letting rooms. All with large en-suite bathrooms. (1 single & 3 doubles)
Hallway with drinks cooler for guest use Iron & ironing board housed in hallway for guest use
SECOND FLOOR: 2 large letting rooms. All with large en-suite bathrooms. (1 twin, 1 double)

Storage cupboards

PRIVATE ACCOMMODATION: Door at end of downstairs hallway leading to private accommodation
Large family kitchen which is used for both commercial and private catering
Large utility room Square inner hallway housing large storage cupboard and fridge / freezer. with all the necessary white wares required for in house laundry
Private lounge with patio doors leading into large private garden. (This private accommodation can be separated away from the letting side of the house once the day’s guests have all checked in)
Large double bedroom and spacious en-suite bathroom with separate bath and shower cubicle. (with the simple erection of a stud wall this private accommodation could easily convert into two double bedrooms)

EXTERNAL: To the front a large 'in-out' drive with parking for at least 10 guest cars.
Private garden to the rear garage with space for 2 cars 2 newly built self-contained apartments adjoining the garage.

Downstairs flat: (open plan kitchen, living and sleeping area with separate shower room)
Upstairs flat (2 separate bedrooms, open plan kitchen, living area, large bathroom.

LOCATION: The Gables Guest House is located on the busy A1434 just 10 minutes from
Newark and the A1 and some 4.5 miles (11 minutes) from the historic City of Lincoln.
The location of The Gables provides easy access to local restaurants, the A46, and most importantly, the renowned Swinderby Antiques Fair, the International Newark Antiques Fair (the largest antique fair in Europe) and also the Lincolnshire showground antique fair.
The fairs are open every other month of the year and boasts up to 4,000 stalls. This exceptionally smart guest house enjoys an enviable reputation with both its commercial and European / Worldwide antique fair clientele. and has built up a very good following of regular repeat trade both leisure and corporate travellers
Must be viewed to be appreciated

Further details available on Request contact details
Located just an eleven minute drive from the Historical City of Lincoln renowned for both its Cathedral and Castle and home to one of the remaining copies of the Magna Carta Lincoln has a significant amount of visitors coming to see these wonderful buildings
The Gables is also only half a mile away from Teal Park which is the largest industrial retail park in the East Midlands even though it is still only half completed so business from this source will undoubtedly grow as the park expands and generate a lot more business from people working in the area whether short term or long term
As already mentioned all three antique fairs are within a ten minute drive of us so we are very well placed to obtain business and revenue from these avenues as well
The Lincoln Showground and the Newark & Nottinghamshire Showground are only a ten minute drive from us with something going on at these events almost every weekend of the year

Premises Details:
Located just 4.5 miles from the centre of Lincoln in the suburb of North Hykeham but only twelve minutes drive to get onto the A1
with very good transport links either by road, rail or bus to anywhere in the country

Energy Performance Rating:
D
Business Operation

Expansion Potential:
We are always being asked for evening meals so there is potential to earn revenue from this stream should a new purchaser wish to do so
Our turnover for last year (and previous years) is derived from a 44 week trading period as we take two sets of two weeks holiday through the year then in December we work the Christmas Market period then we close down from 5th December and do not re open till 2nd Jan

This is purely our choice and suits our lifestyle
The turnover and trading period can both be extended by opting to trade more weeks of the year which will bring in another 14k or £3500 per week for when we go on holiday
The December shutdown is a little bit of an unknown as we have never traded this period and although we would expect it to be one of the quieter months we would still expect it to turn over in the region of 8k – 10k, making an addition to the top line of another 24k combined for the two periods

Another point
We have had a price increase on seven of our eight rooms from next January 17
These rooms have increase by £5 per room per night to keep in advance of inflation etc
With our occupancy rate of 80% over the trading period we currently operate this will also bring in another £10k to again add on to the top line
Bearing in mind that currently all the premises expenses for the full 12 month calendar are paid from an income derived from a 44 week period this will increase the bottom line quite significantly

Competition / Market:
There is competition in the area but the quality of our accommodation and rooms are what make us stand out from the rest

Reasons for selling:
retirement

Trading hours:
as required by the business

Employees:
2
Years established:
25
Other Information

Support & training:
Full help and training available if required
ongoing assistance with web site etc will be available after sale is completed if required

Furniture / Fixtures value:
£125,000 - included in the asking price
Inventory / Stock value:
£250
Website:
Request contact details

Disclaimer

Property advert Ref 3302768 - Is a property advert for marketing purposes only, the information has been supplied by the owner, estate agent or property portal and The House Shop makes no warranty as to the accuracy or completeness of the information. Furthermore we have no control over the adverts content. This property advertisement does not constitute property particulars. Please contact the advertiser to obtain any information regarding The Energy Performance Certificate regarding homes in England and Wales or Home Report for residential property in Scotland.

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