Property Investor - Wolverhampton - Ref: 44

Property Information

Ref ID: 44

Date available: 18-Oct-2021

Furnishing: Not Specified

Property type: Guest House

 

Details

3 Year Lease Option

Serviced Accommodation Opportunity

8 Bedroom Guest House Close to North Beach

Wellington Rd, Bridlington YO15 2AZ

Rent to Landlord = £1,500

Purchase Price Within 3 Years = £265,000

Finder¢--s Fee = £5,000 + Vat

Potential Gross Income Based on 70% Occupancy = £6,816 pcm = £81,792 per annum

CASHFLOW AFTER ALL THE ABOVE COSTS

Managed = £2,771 pcm = £33,252 per annum

Cashflow Over 3 Years = £99,756

Self Managed = £4,816 pcm = £57,792 per annum

Cashflow Over 3 Years = £173,376

For a limited time only, we have managed to secure a well presented 8 bedroom guest house in Bridlington Town Centre.

The property comprises eight letting bedrooms, mixture of single, double, and family rooms, two private owner accommodation located on ground and first floor. There is also a parking space for one vehicle to the front with additional on street parking.

According to the owner, the property is looking tired, however it is currently functional but would benefit from updating / modernising.

At present, the owner is managing it and has been run with a very high occupancy rate - mainly with contractors within the area. At present, they are currently charging around £40 per night

The property is located in a superb location within proximity to all local amenities, fast-food places, local supermarkets, North Beach, and easy transport links.

The buyer must pay the legal costs for the transaction for both parties.