Lee Road, Lynton, Devon

Hotel for sale in Devon

A fine detached residence
South facing with glorious view towards the town, Lyn Valley and Countisbury Hill
11 Bedrooms and 9 en-suite bathrooms
Private parking for up to 8 vehicles
Sloping rear mature garden with lawn, mature shrubs and trees
Oil fired CH
Tastefully decorated and furnished throughout
Takings circa £81,000 (2023/4) from only letting 6 bedrooms with vast scope to increase
Ideal first time hospitality venture
NO ONGOING CHAIN

LOCATION
Located just above Lynton Town Hall in a central spot enjoying South facing views towards Lynton, Lyn Valley and Countisbury Hill. All amenities are with a short walk including the convenience store, doctor's surgery, primary school, shops and restaurants. Nearby is the multi-award winning and famous Lynton and Lynmouth funicular Cliff Railway opened in 1890 and is the highest and the steepest totally water powered railway in the world! Lynton Town Hall was given to the town by Sir George Newnes, Bart, who was a major benefactor of the town, he also built Ingleside in 1895 as a gentleman's residence. In addition, he also gave the town the United Reformed Church building (originally a Congregational church) on Lee Road. The area is popular throughout the year with tourists especially walkers exploring the South West Coast Path and many hidden steep sided river valleys. Lynton is approximately 17 miles (27 km) north-east of Barnstaple and 18 miles (29 km) west of Minehead and close to the confluence of the West Lyn and East Lyn rivers.

THE PROPERTY
This detached family home has 11 bedrooms and 9 en-suite bathrooms, but from choice the current owners only let 6 bedrooms for guest accommodation. The versatile room plan provides for a one-bedroom annexe on the ground floor ideal for a relative or potential holiday let. There is a large guest lounge and separate breakfast room to the ground floor. The public rooms are well serviced by a fitted kitchen and interlinked freezer room/pantry. There is oil fired radiator central heating and the rooms have been tastefully decorated throughout. Approached from a sweeping tarmac driveway there is a car park for 8 vehicles to the side and front. The rear gardens are sloping laid to lawn with mature shrubs and trees in all just under half an acre.

THE BUSINESS
A long-established guest house with an excellent reputation, now for sale due to retirement after 22 happy years here. The property is available with no ongoing chain. This business has an income of £81,000 with high profit margins but has great potential to grow by opening up more guest rooms. The tariff is from £100 per night with an extra £27 per person for an evening meal. The business opens from Easter to half term week in October and is run by a husband and wife team with no staff. All trade fixtures, fittings and equipment will be included apart from those items of a personal nature. Considered an ideal home and income opportunity as a first-time business.

AGENTS NOTE
It should be noted that the owners close for 3 weeks of the high season. There is another £9,000 in potential income to be made during these 3 weeks. This is a personal choice of the current owners therefore the potential to generate a further income is tremendous. The property is in a conservation area.

SERVICES AND UTILITIES
Mains electricity, water and drainage. No gas. We encourage you to check before viewing a property the potential broadband speeds and mobile signal coverage. You can do so by visiting https://checker.ofcom.org.uk

BUSINESS RATES
£6,100 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.

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

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 buyer's responsibility.

In the heart of Lynton, stand facing the Town Hall and on the left is a driveway. Proceed up the sweeping shared drive and take the first turning on the right where Ingleside can be found.

Important information

This is a Freehold property.

Property Ref: 55707_COM240044

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