LANDLORD & TENANT
About this property:
** FREEHOLD BUSINESS INVESTMENT **
** HIGH AVERAGE PROFITS **
**POTENTIAL TO INCREASE PROFIT FURTHER **
An attractive 3 storey building providing a self-contained ground floor office space, plus luxury self-catering apartment business operating as The Old Wool House Limited providing four self-contained units.
The building was converted and fully refurbished in 2018 by the renowned Carlisle builder, McKnight & Son. We understand the building reaches all necessary building regulations, boasts superb insulation, new electrics throughout, new double glazing and is fully sound proofed.
The Old Wool House Apartments business is rated exceptional on Booking.com and holds ‘Super Host’ status on Airbnb with four luxury fully furnished one-bedroom apartments. Demand is constantly strong and the business benefits from advanced bookings in place for 2024.
The business offers potential for excellent profits but still offers a flexible lifestyle for the current owner who maintains the business and building for approximately 1-2 hours per day.
At present, the business operates for 8 months a year due to family commitments. The potential for a further 4 months of trade could increase the current £67,000 per year average profits to even higher levels. There is obviously a huge growth potential for a buyer who wishes to trade for 12 months of the year.
The business benefits from a high rebook rate from repeat guests and has a solid proportion of longer lets over 3 days as well as a strong booking rate from the weekend tourist market and business guests.
Neighbouring the Crown Courts, one benefit is that many solicitors and barristers book accommodation regularly.
Terms: For Sale: £595,000
Size: 363.14 m² (3909 ft²)
Postcode: CA1 1DQ
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