£875000 High Newbiggin Street, York

Summary

Existing Holiday Let Business For Sale.

4 recently refurbished Freehold apartments, set within a walled courtyard, located just minutes’ walk from the heart of the city.

The business has traded successfully for 5 years and is running currently and has an excellent website (www.minstersreach.co.uk) and is run through a local holiday let company. There are healthy bookings throughout the forth coming months, and repeat business is building (alongside excellent reviews).

As a commercial property, the apartments fall under business rates (not council tax) and benefit from a lower comparable Stamp Duty levy.

With use of quality sofa beds the apartments can accommodate up to 20 guests at one time – giving excellent flexibility for the owners to target their preferred groups.

Full Description

Location

Located off Lord Mayor Walk; so just a short walk from York Minster, the Theatre Royal and the multitude of shops, bars and cafes on offer – a perfect position for visitors to enjoy York from. Parking is available in Monk Bar car park, that is on the door step of the development – perfect from unloading the luggage!

The development

Situated within a walled courtyard, the 4 apartments are all access from here. All the apartments had been refurbished in 2017 and offer a high quality finish throughout. A big bonus is the good-sized store, that works brilliantly as a linen/extraneous items store – great for turning round the apartments between bookings.

The property is freehold, but can be sold leasehold if required.

1 Minsters Reach

Sleeps up to 4 guests.

2 Minsters Reach

Sleeps up to 6 guests

3 Minsters Reach

Sleeps up to 4 guests

4 Minsters Reach

Sleeps up to 6 guests

Income

We are advised by the vendor that over 2014, ’15, ’16 and 2017, the gross income was steadily around £100,000 p.a.

The apartments have since been refurbished, and receiving very strong feedback both online and in the visitor books.

The current owner relies on a holiday let company as he lives away, but a local owner could manage themselves and avoid their fees.

These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of or representation of fact (especially if a substantial journey is required to view the property), but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firm’s employment has the authority to make or give any representation or warranty in respect of the property.

Key Features


  • Four luxury modern apartments
  • Full furnished
  • 2 ground floor
  • 2 first floor
  • Capacity for 20 guests max.
  • Holiday and Corporate Lets Permitted
  • Courtyard setting
  • 7 minutes walk to York Minster