Torrington, EX38 8EP

Torrington, EX38 8EP

Hotel/B&B 7 Bedroom 2 Reception
EPC Rating: EPC
Offers over £425,000
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Eastmond House, 4 Potacre Street, Torrington EX38 8EP

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Key Features
  • EPC: D
Property Description

Additional Information

If I was asked to draw a guest house ? it would probably look a lot like this very successful 6 bedroom with separate 1 bedroom cottage home and business. It may be that I have known the Eastmond House for such a long time as a go-to venue in the Town, or it might be because a lot of guest houses tend to be huge Victorian and Edwardian homes. The bays on this property make it especially pretty to my mind. It feels like home, which I guess is exactly what you want from a home from home.

There are 6 bedrooms, three of which are ensuite, one is kept for the owners and the other two have a large bathroom and separate wc conveniently located next door. There are diasbled washing facilities located on the ground floor also. Each of the rooms have been let in the past, but as the owners have been slowing down the business in recent years, three of the six are kept for personal use. This is interesting as the income shown later is based on just 3 of the rooms and the cottage being let. This means there is plenty of scope to improve income, if one would like, simply by letting the two other rooms. The current charges for rooms have not changed in a long time either. The cottage offers a new dimension. Total self-contained, self-catering privacy for guests as well the opportunity to let it for a week or two at a time. The cottage is heated independently so is easy for year long use. In fact, the Eastmond House is open 365 days a year. It is also booked full for many weeks. It often is and most recently has been host to Alistair McGowan as he was in Town performing at The Plough Arts Centre. Many big names frequent this venue including Alan Carr, Sarah Millican, Rob Beckitt, Al Murray and Josh Widdicombe. Many have also stayed at the Eastmond House. This offers a lovely opportunity to advertise as a hotel to the stars, although the current owners are far too unassuming and to be honest, have not needed to advertise much at all as their reputation precedes them. No doubt the Plough is a draw for the Town and Eastmond being just one of two Bed and Breakfast businesses in the Town, a full house is often easily achieved.

Eastmond is for sale due to retirement. The current T/O (with only 3 rooms let) is approximately £38,000 with superb profit margins. As mentioned, there is lots of opportunity to grow it, should a buyer wish to. In the past it has been in the region of £58,000. Full accounts can be made available when required, although last years are still being prepared as I write.

The home and business are fully compliant for its current use. The goodwill, stock and furnishings will all be including in the sale.
There is parking enough for 5 at the property, but the large outbuilding has also been used for income in the past. There are large doors, so garaging, additional parking, or (subject to planning consent) a conversion for another letting unit could all be possible.

Your guests are just 20 minutes from the North Devon Coast, Barnstaple and Bideford. The North Cornwall coast is approximately 50 minutes? drive.

There are some 365 Acres of Commons to explore with the River Torridge running through it and Torrington has just been named the healthiest place to live in Britain. It all adds up to time to quit the rat race and relax with a different lifestyle that works as hard as you want it to, not the other way around.


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