Fremantle, Western Australia
B&B Short Term Accomodation Going Concern Business and Related Property for Sale
$1,720,000 including Business and Freehold
Business Description
Summary
Fremantle Western Australia Unique home built in 1890's converted to a B & B Old word theme, close to Fremantle attractions and amenities, High occupancy record Good profitability VERYIMPRESSIVE
Revenue
$350,000 pa
Location Details
32 Arundel Street , Fremantle WA
Centrally located the accommodation is a 5-minute short walk to Freo's Cappuccino strip, market. restaurants and bars. Fisherman's harbour and attractions is a 10 minute walk, beach is a 20-minute walk or a 5minute drive, Perth a 25 minute drive
Potential
The business is already succesful. New owners will bring new initative and ideas which can increase the occupant and income.
Fremantle Located 30 minutes southwest of Perth, Western Australia where the Swan River meets the Indian Ocean. Freo has something to offer all visitors. This pedestrian-friendly with winding streets offers you a glimpse of the past together with the vibrant present. Freo has great ocean and river beaches, the fishing harbour, restaurant strip with alfresco dining , coffee,bars makes Freo a social hub.
Skills
Management skills and a knowledge of the hospitality and accommodation industry
Hours
This needs to be determined by the new owners. Current owner spends approximately 20 hours a week managing the business
Lease
A lease will be in place between the property owners and the business
Employees
Two cleaners and a receptionist as well as the owner who is the manager.
Long term related casual staff are available when required. Tradesman are called when necessary
Reason for Sale
The owners are wanting to retire and as such are wanting to sell the business and related property
About the Business
Arundels Boutique Accommodation consists of 8 rooms of various configurations and a breakfast dining area there is the option of acquiring the related 3 bedroom and one bedroom apartments.
The business has been established since 2014 and enjoys good ratings on the various booking agencies.
The style of the décor and furnishing is quality and tasty old world.
All rooms are airconditioned, fitted with flat screen TV’s, tea and coffee making facilities, some rooms have spa baths. Continental breakfast is provided in the breakfast room.
The buildings and grounds are well maintained, and the business has its own on-site laundry.
Centrally located the accommodation is a 5-minute short walk to Fremantle’s Cappuccino strip, market. Restaurants and bars.
The beach is a 20-minute walk or a 5-minute drive.
Perth CBD is 25 Minute drive.
The Fremantle railway station is a 12-minute walk or a bus ride.
Reservations and bookings
Direct contact with the reception at the business or after hours
Wotif, Bookings.Com, Hotelscombined, Trivago.com.au, Hotesls.com, bTrip advisor.com.au, lastminute .com.au ,.Airbnb. The business enjoys rave reviews on the various reservation/ booking sites. The business has its own software system for recording and managing reservations which is Little Hotelier.
There is off street as well as on street parking adjacent to the home, on site laundry for the linen ,towels of the business.
History
The house originally built in 1890's has been extensively restored and renovated by the current owner. The renovations were competed in 2014 and that was the year the business began. The renovations have been done in keeping with the old world theme of the home
Additional Freehold options that will complement the business prosperity
1 bed apartment - $479,000
3 bed Apartment - $680,000
Business Summary
Key Investment Insights
1. Unique and historic property: The B&B is a converted 1890's home that has been extensively restored and renovated, providing a unique and charming accommodation experience for guests.
2. High occupancy rate: The B&B has a strong track record of high occupancy rates, indicating a steady demand for short term accommodation in the area.
3. Profitability: The business is currently profitable, providing a good opportunity for new owners to continue its success.
4. Prime location: Located in the heart of Fremantle, the B&B is within walking distance to popular attractions, restaurants, and bars, making it an ideal location for tourists and visitors.
5. Potential for growth: With new owners bringing in fresh ideas and initiatives, there is potential for the business to increase its occupancy and revenue.
6. Management skills and hospitality industry knowledge: The ideal buyer for this business would have strong management skills and a background in the hospitality and accommodation industry.
7. Flexible hours: The current owner spends approximately 20 hours a week managing the business, leaving room for new owners to determine their own working hours.
8. Lease in place: A lease will be in place between the property owners and the business, providing stability and security for the new owners.
9. Experienced staff: The business has a team of two cleaners and a receptionist, as well as the owner who manages the day-to-day operations. Long term casual staff are also available when needed.
10. Retirement of owners: The current owners are looking to retire and sell the business and related property, providing an opportunity for new owners to take over a well-established and successful business.
11. Multiple accommodation options: In addition to the 8 rooms in the B&B, there is also the option to acquire a one bedroom and a three bedroom apartment, providing additional accommodation options for guests.
12. Well-maintained property: The buildings and grounds are well-maintained, providing a comfortable and attractive stay for guests.
13. Established online
