St. James Place, Ilfracombe, Devon, EX34

LOCATION
In a prime tourist spot located between the seafront and the harbour of this popular resort. The property is ideally placed to take full advantage of the tourist trade, being close to the pier and beaches. In addition the property benefits from a private car park to the rear for 4 vehicles.

THE PROPERTY
This is a large much improved end terraced property which the current owners acquired about three years ago but are now selling due to other retail business commitments (not related to hospitality). The owners have installed a new boiler heating system and re-decorated throughout since they took over this well-established business. In recent years the property has operated as a youth hostel with an income of around £120,000 per annum.
There are 13 bedrooms that cater for up to 45 guests as a hostel or the rooms could be arranged as 8 letting bedrooms on the first and second floor and the top floor for an owner’s apartment.

THE BUSINESS
Available as a thriving independent hostel or could revert easily back to a bed & breakfast establishment or alternatively as Air B&B/possible conversion of the upper floors into three apartments, subject to planning. The ground floor could be used for catering, retail or even as an art gallery, again subject to any necessary planning. Every assistance will be made available for a smooth takeover and full details of the business operation are available upon request, subject to the owner’s approval.

AGENTS NOTE
The property is in a conservation area. There are solar panels at the property, we have been advised by the vendors that they are owned outright. A small flying freehold exists to the rear, as the house backing onto the kitchen has access to the flat roof over. The property is pavement fronting onto St James Place where on the right hand side a timber door gives access to a small side patio. There are car parking spaces for 4 vehicles.

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.