Christie & Co sell The Ferryboat Inn on the Pembrokeshire Coast
Specialist business property adviser, Christie & Co has successfully completed the sale of The Ferryboat Inn, a guesthouse with period features in Fishguard Bay. The guesthouse is ideally situated in the popular tourist destination with many local attractions, most notably the international port of Fishguard and in close proximity to the award-winning Pembrokeshire Coastal Path.
The attractive and substantial property boasts seven high quality en suite guest bedrooms, an attractive dining room, well equipped bar, decked outside trade areas for 20 covers and a well-equipped commercial kitchen. Adjoining The Ferryboat is Banc Yr Afon, a tastefully presented three bedroom cottage which currently provides exceptional three bedrooms owner's accommodation and private garden.
Denham and Michele Gregory have owned the business since 2005, during which time they completed major refurbishment works, transforming the inn from a 1 star Welsh Tourist Board grading to 4 stars and being shortlisted as a regional finalist in the True Taste of Wales. Due to a change in circumstances, Mr and Mrs Gregory chose to limit trade in 2012 and reposition the business as a quality guest house, receiving high reviews and holding the number one position on TripAdvisor’s list for best B&Bs and inns in the Fishguard area.
The guesthouse currently enjoys strong occupancy rates, particularly in the summer and there is definite opportunity to significantly increase turnover and profitability throughout the year by extending the food and beverage offering to include lunches and evening meals for both guests and the local community.
Mr and Mrs Gregory comment; “We have enjoyed our journey at The Ferryboat and are proud of our achievements, we have met some great people along the way and would like to thank all our customers for their support. Over the years, we have also employed some exceptional people who have helped us reach our goals and we thank them for their support and professionalism that has helped make the Ferryboat a highly respected establishment.
“After 13 years, we are ready for a change and very much looking forward to a new challenge, exactly where and what this is we haven't fully decided. We wish Peter and Jacqui the very best and look forward to seeing them take the Ferryboat on another journey! Finally, we would like to thank Corrina Jones and her team at Christie & Co for her advice and professionalism during the sale. An excellent job!”
New owners of The Ferryboat Inn, Peter and Jacqui Hornsby comment; “After visiting the area several times over previous years, we are looking forward to the move and are excited about taking over the Ferryboat. We feel we have a lot to offer and we are looking forward to putting our stamp on the property over the years to come. We are hoping to meet lots of the locals as in the past we have found them to be very friendly and helpful. Thanks to Michele and Denham for taking such good care of the buildings and business during their time at the property.”
Corrina Jones, Business Agent at Christie & Co's Cardiff office who handled the sale adds; "We are thrilled to announce the sale of The Ferryboat and welcome Mr and Mrs Hornsby, who plan to further invest into the business, which makes for an exciting time for everyone involved with The Ferryboat.
“Regionally, hotel viewings for January 2018 were up considerably year on year, and sales to first time buyers looking for a lifestyle change were up 18% during 2017 on 2016 figures. This is positive news for the hotel and B&B markets in West Wales, as a large percentage are primarily operated by owner occupiers.”
Christie & Co sought offers in the region of £415,000 for the freehold of The Ferryboat Inn.