Telstar Guest House, 77 St. Davids Hill, Exeter, Devon, EX4

THE PROPERTY
The Telstar is a substantial and deceptively spacious three storey, mid terraced property. This bay fronted Victorian property has been in the same family ownership for over 39 years and has undergone a rolling refurbishment program, consequently it is well presented and furnished throughout. Trading on a Bed & Breakfast and Room Only basis, the business produces impressive levels of trade and substantial net profits. This spacious and well-appointed business briefly comprises:- 12 Individual Letting Bedrooms which can sleep up to 21 guests; Guest Breakfast Room; Office/Reception; Kitchen; and Utility/Laundry Room. Externally, the property benefits from on-site parking for up to 5 vehicles, a central courtyard and a further terrace area to the front.

SITUATION
The Telstar occupies a prominent trading position on St Davids Hill, one of the main arterial roads into Exeter city centre. The Telstar is conveniently located a short walk from both of Exeter's main railway stations and the main shopping and business areas of Exeter, Exeter College and the nearby Exeter University Campus. Exeter itself is the regional capital of the South West and as such is not only an established and expanding business centre, but also a tourist destination year-round. Renowned for its historic Cathedral, University and waterside development, Exeter boasts excellent transport connections with 2 mainline rail links to London, an international airport and easy access to the M5 motorway at Junction 30.

INTERNAL DETAILS
Entrance door to the front and also from the rear carpark. Reception Hallway with part tiled and part stripped wood flooring and stairs to upper floors. Office/Reception Area with stripped wood flooring, reception desk and CCTV monitor. Laundry Store Area with laundry press. Guest Breakfast Room a large open plan room with stripped wood flooring, bay windows to the front and French doors to the rear courtyard, dado rail, picture rail, dresser/servery counter, wall mounted menu board, display dresser unit, range of freestanding wooden tables and upholstered chairs comfortably seating 21 guests. Kitchen with tiled flooring and fitted with a range of base and wall mounted kitchen units with complementary worktops and fully equipped to include a moveable island workbench, twin stainless steel sink unit, commercial dishwasher, 6 slice commercial toaster, American style fridge/freezer, hot water still, built in double oven, microwave, 4 ring electric hob, tiled walls door to the side. Store Area with fridge freezer and glass fronted bottle fridge. Laundry Room with tiled flooring and fitted with base and wall mounted kitchen units with complementary worktops, 2 washing machines, 4 tumble dryers and an upright freezer. Staff WC.

LETTING ACCOMMODATION
The property offers 12 Letting Bedrooms, over three floors, which can accommodate up to 21 guests. All rooms are well decorated and furnished with televisions, tea/coffee making facilities, hairdryers, alarm clock radios and Wi-Fi. The letting rooms briefly comprise:-

Ground Floor
Bedroom 9 a triple room with an ensuite bathroom.

First Floor
Bedroom 10 a double room with an ensuite shower room and a balcony area.
Bedroom 11 a standard double.
Bedroom 12 a standard single.
Bedroom 14 a twin room with an ensuite shower room.
Bedroom 15 a double room with an ensuite shower room.
Bedroom 16 a single room with an ensuite shower room.
Bathroom with shower, WC and washbasin. Cloakroom with WC and washbasin. The cloakroom and bathroom are shared by Bedrooms 11 and 12.

Second Floor
Bedroom 17 an executive single room with an ensuite shower room (small double)
Bedroom 18 a single room with an ensuite shower room.
Bedroom 19 a double room with an ensuite shower room.
Bedroom 20 an executive single room with an ensuite shower room (small double).
Bedroom 21 a single room with an ensuite shower room.

EXTERNAL DETAILS
To the front is a brick paved Terrace Area. There is also a Victorian tiled Central Courtyard. To the rear of the property is Private On-Site Parking for 5 vehicles. Residents parking permits are also available for guests.

THE BUSINESS
The Telstar is nicely presented throughout and is a well-established and well-regarded licensed Guest House occupying a prominent and visible trading position within Exeter city centre. The business has been successfully operated by the same family for over 39 years and has a team of staff in place to assist in the day to day running of the business which allows our clients to be more hands off. The owners are now looking to retire. The Telstar is highly regarded by guests on TripAdvisor, Booking.com, Expedia and Google with numerous positive reviews and recommendations. The business benefits from a website which allows direct guest bookings. Our clients have built an excellent reputation and forged ties with tour operators and Exeter University, leading to a high percentage of commission free income. The business also utilises various online accommodation booking websites. The high standards inherent throughout the business and competitive pricing ensure excellent levels of repeat business and word of mouth recommendation. The business trades on a Bed & Breakfast and Room Only basis with no evening meals offered. The business is popular not only with commercial travellers, but also with tourists visiting the area and its position close to both of the city's main railway stations, the university campus and city centre make it a popular year-round business. The business benefits from strong levels of forward bookings and its prominent position also ensures a good deal of passing trade.

TRADING INFORMATION
Management Accounts provided by our clients for the year ending 30th September 2024 show sales of £216,792 net of VAT, generating an impressive and substantial net profit approaching £90,000 before tax. Financial information can be made available following a viewing.

POTENTIAL
We believe that The Telstar represents an excellent opportunity to purchase a well-established and well-regarded licensed guest house business in a busy city centre trading position. Businesses in sought after commercial locations such as Exeter, are always in short supply, but those which provide such an enviable lifestyle with genuine potential for future growth, such as The Telstar, are very rare indeed. There are impressive net profits on offer with potential to run the business as hands on owner operators or equally under full management, dependant on personal requirements. There are opportunities to sell packed lunches, offer evening meals and take greater advantage of the alcohol licence. Parking could also be charged as this is currently free for guests. An internal viewing is essential in order to fully appreciate all that this enviable and most profitable business opportunity has to offer. Our clients are prepared to offer a full handover and training to prospective purchasers if so required.

AGENTS NOTE
Our clients have run the business in conjunction with the adjoining property, 75 St Davids Hill. Our clients intend to retain number 75 for residential use and will not trade it as a guest house or similar, and they are happy to agree to a non-compete clause as part of the sale. Please contact us for further details.

CURRENT STAFFING
Run by our clients, who by their own admission run the business on a part time basis, with the assistance of 1 full time and up to 12 part time members of staff.

TRANSFER OF A GOING CONCERN
The sale of the property includes the goodwill of the business and trade inventory and will be subject to Transfer of Undertakings (Protection of Employment) regulations (TUPE).

EPC
C - 57.

BUSINESS RATES
For up-to-date Business Rates information relating to this property, we refer you to The Valuation Office website

SERVICES
All mains services are connected.

PRICE & TENURE
£625,000 for the freehold interest of 77 St Davids Hill, as a going concern business to include the full trade inventory and goodwill.