Chartered Surveyors and Business Property Specialists
Graham Timmins Head of Business Transfer View Profile

Contact us about this property

Call: 01872 247019
Email: gt@miller-commercial.co.uk

For Sale
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The Rosemary, Gyllyngvase Terrace, Falmouth, Cornwall

Guest house for sale

£895,000

Freehold

COASTAL GUESTHOUSE in a favoured address in FALMOUTH, with up to 10 letting rooms, and 2 bedroom private owners accommodation. Beautiful gardens with sea views, very tastefully presented and well maintained throughout. With many awards this is one of the best of its type in the County. Genuine sale.

  • PERIOD COASTAL GUESTHOUSE IN FALMOUTH
  • UP TO 10 LETTING ROOMS, MOST WITH SEA VIEWS
  • PRIVATE 2 BEDROOM OWNERS & HOBBY ROOM
  • WELL MAINTAINED & PRESENTED THROUGHOUT
  • GUESTS LOUNGE/DINING ROOM AND GARDEN AREA
  • CONSISTENT SALES AND EBITDA
  • GENUINE RETIREMENT SALE
  • EPC E104

Property Brochure PDF Location Map

Summary

PERIOD COASTAL GUESTHOUSE IN FALMOUTH
UP TO 10 LETTING ROOMS, MOST WITH SEA VIEWS
PRIVATE 2 BEDROOM OWNERS & HOBBY ROOM
WELL MAINTAINED & PRESENTED THROUGHOUT
GUESTS LOUNGE/DINING ROOM AND GARDEN AREA
CONSISTENT SALES AND EBITDA
GENUINE RETIREMENT SALE
EPC E104

Location

The Rosemary occupies one of Falmouth’s most coveted locations for guest accommodation in the thriving harbour and University town of Falmouth. The location affords guests the opportunity to stay on a quiet road, within walking distance of several beaches, Falmouth town and its harbour. Falmouth has seen significant regeneration and interest in recent years, with the expansion of Falmouth University and has a wide range of national and niche retailers, restaurants and cafes, making this a very desirable town in which both to live, work and indeed stay.

Falmouth has a number of festivals throughout the year and University Open Days, which means that Falmouth is very much an all year round holiday destination. Within the Falmouth and Penryn conurbation there are various primary education establishments and two secondary schools.

Property

The Rosemary is a substantial and sizeable period 3 storey (plus a lower ground floor, serving as the owners accommodation) semi detached property built in 1907 by a well regarded Architect of the era. During our clients tenure, since 2012, they have undertaken a programme of continual investment and updating of the property, including a new fire escape, windows and boiler. In our opinion the property is presented in very good decorative order throughout and is very well maintained.

Business

Our clients hold an AA 4 Gold Stars Award for Guest Accommodation, testament to the quality of the establishment and the service they provide and is one of only a handful of guesthouses in Falmouth listed in the Good Hotel Guide. Our clients have successfully run the business with some seasonal assistance since 2012 and are now looking to retire. The business trades all year , with the exception of a 2/3 week period over Christmas and New Year. The business de-registered for vat in 2019 at our clients choice, The Trading Profit and Loss Account for the year end March 2020, show sales of £74,513 with a Gross Profit level of 88.5% and an adjusted net profit of £37,548, after deducting all overheads, including wages if £7,394. It should be noted within this trading year some booking deposits were returned which reduced the turnover and also historically the business was vat registered and had a turnover in excess of £100,000.

Please see our clients webiste : www.therosemary.co.uk

The Accommodation Comprises

FLOOR PLANS AVAILABLE.

GROUND FLOOR

Entrance Porch into Reception : A spacious area with desk, space for several chairs and residents bar. Behind the reception desk, door to private Owners Accommodation (see later section).

Guests Lounge : A well proportioned room with a bay window to and access door to the rear elevation overlooking the garden. With a fireplace and space for settees.

Guests Dining Room : A similarly spacious room with large picture windows to the rear elevation overlooking the garden and with tables and chairs for up to 20 covers, an antique large dresser provides storage for crockery and cutlery.

Kitchen : Primarily a domestic kitchen with a range of base and wall units, 7 ring gas and 3 electric oven ( and 1 warming ) cooker with cooker hood over. Window to the front, over the double sink / drainer., with hot tap. Under counter and upright fridges, warming cupboard.

Utility : Door to front, commercial glass washer and domestic dishwasher. Base and wall units. Sink unit. Upright freezer.

Dry Store / Pantry : Window to front, shelving.

OWNERS ACCOMMODATION

Accessed internally behind the reception desk, into an inner lobby.

Study Area : Window to side, phone point, radiator.
Lounge : Windows to rear and side elevations and door to garden, radiator.
Bedroom 1 : Double, window to side, tv point, radiator.
Bedroom 2 : Double, sliding door to side, built in wardrobe, radiator.
Shower Room : Window to side, double shower..

To the rear of the owners accommodation a private garden and with access to a Garden / Hobby Room, built in 2010 of wooden construction, with upvc door and windows, insulated and with power and light connected.

SCHEDULE OF LETTING ACCOMMODATION

FIRST FLOOR
With 4 Linen / Housekeeping Cupboards on the First Floor Landing.

ROOM 1 ; Twin, bay window to front, bath with shower, radiator.
ROOM 2 : Twin / Double, window to rear with sea views, bath with shower, radiator.
ROOM 3 : Double, bay window to rear with sea views, shower, electric panel heater.
ROOMS 4 & 5 ; The Roseland Suite, comprising a Double and a bunk room, with windows to the rear and side, shower and a radiator in both rooms.
ROOM 6 : Single, window to side, access to the fire escape along the corridor, shower, electric panel heater.

SECOND FLOOR

Landing with an opening skylight.

ROOM 7 : Double, window to front, shower, built in wardrobe, radiator.
ROOM 8 : Double, window to side, shower, built in wardrobe, radiator.
ROOMS 9 &10 : The Helford Suite, comprising a Twin and Double bedroom, windows to the side and rear with sea views and a seating area, bath with shower, built in wardrobe, radiator in both rooms.

NB : Both Suites can be let as individual rooms.

Outside

Parking for 3 vehicles to the front. Boiler House and Store.

Gardens : Beautiful mature south facing gardens at the rear with an upper decked area, leading to a winding pathway around mature borders, with some exotic planting and with several seating areas for the guests.

Tenure

Freehold.

General Information

Energy Performance Certificate

The Energy Performance Rating for this property is E104.

Inventory

An Inventory of all loose chattels and equipment, free of any lease/lien, to be included within the sale will be supplied by Miller Commercial prior to exchange of Contracts.

Business Rates

We refer you to the government website https://www.tax.service.gov.uk/view-my-valuation/search which shows that the current rateable value is £10,750.

Services

Advised by clients :-

Mains Water
Mains Drainage
Mains Gas & Central Heating
Single Phase Electricity

Prospective owners should make their own enquiries of the appropriate statutory undertakers:
Western Power: 0845 601 2989
South West Water: 0800 169 1144
Transco: 0800 111 999

Premises Licence

Premises Licence C1_PL000228 for the Consumption of alcohol on the premises.

Stock

To be taken at valuation and agreed between seller and buyer on completion.

Value Added Tax

We are advised the Property is not elected or registered for VAT

Finance

If you require advice regarding the Financing of a Business, at no initial cost, please contact us on the numbers below.

Contact Information

For further information or an appointment to view please contact either:-

Graham Timmins on 01872 247019 or via email gt@miller-commercial.co.uk or
Paul Collins on 01872 247029 or via email pc@miller-commercial.co.uk or

PLANS: Plans and maps reproduced under Ordnance Survey Licence No LIG1179. Not to scale and for identification of the property only. They are not intended to show actual site boundaries and not guaranteed to be accurate.

AGENTS NOTE: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] Any intending purchaser or tenant must satisfy him/herself by inspection or other wise as to the correctness of each of the statements contained in these particulars; [c] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [d] None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent.

Miller Commercial is the trading name of Miller Commercial LLP registered in England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial LLP is Mansion House, Princes Street, Truro TR1 2RF. We use the term Partner to refer to a member of Miller Commercial LLP. VAT Registration No.643 4519 39.

VIEWING: Strictly by prior appointment through Miller Commercial.

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Graham Timmins Head of Business Transfer View Profile

Contact us about this property

Call: 01872 247019
Email: gt@miller-commercial.co.uk

Property Brochure PDF