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18 September 2020 | Hotels

18th century West Yorkshire guest house on the market through Christie & Co

Specialist business property adviser, Christie & Co, is delighted to introduce to the market, Peasehill Guest House, by way of a leasehold opportunity.

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Built in 1864 and steeped in local history, the charming and quirky eight-bed guest house is situated in the village of Rawdon, West Yorkshire, which sits on the River Aire and is surrounded by Leeds, Bradford and Harrogate. In addition to the characterful letting rooms, the generous-sized site features a 60-seat restaurant and bar, and a number of function rooms, all with a leafy garden outlook, as well as ample parking for guests.
The business benefits from its close proximity to Guiseley and Horsforth, which are amongst Yorkshire’s most affluent suburbs. It is also 2.2 miles from Leeds Bradford Airport and within driving distance of local leisure offerings and points of interest including Bradford and Horsforth Golf Clubs, churches and crematoriums, making it a popular choice for functions and events.

In February 2018, Vince Foster and Daniel Grainger became the new owners of Peasehill Guest House and undertook an extensive renovation to repair and refurbish the stone-built property. Under this new ownership room occupancy levels have thrived, and the pair have built an established ‘destination venue’ ideal for staycations, weddings and events. They have made the decision to sell to pursue other property investments and retire.

Daniel comments, “Vincent and I have invested a lot of time and money into Peasehill since acquiring the business in 2018, when the place was in a state of disrepair, and we are very proud of the reputation we have built amongst guests – ratings have never been so high. The potential here is great and we look forward to introducing the business to a new operator in the near future.”
 
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With a strong IRI leasehold term of 18 years remaining, the sale of Peasehill Guest House presents a great opportunity for a wide range of prospective buyers to acquire an established business and take advantage of the multi income stream scope, via the letting rooms, restaurant and spacious function events facilities which can be utilised for a variety of occasions. The business also holds a wedding license.

Sam Ashton, Senior Business Agent – Licensed and Hospitality at Christie & Co is handling the sale and comments, “The hospitality market has experienced a real shake up as a result of the COVID-19 pandemic. We’re finding our buyers are very interested in investing in properties with letting accommodation as this business model taps into the current staycation trend which we’re seeing across the UK. The Peasehill Guesthouse offers this, along with other additional income streams so we expect it to appeal to a range of buyers. I’m excited to bring this business to the market and look forward to engaging with prospective purchasers.”

Peasehill Guest House is on the market with a guide price of £85,000 for the leasehold.