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Guest Houses Hit By Market Slump

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Guest uberstuka

http://www.thisisgrimsby.co.uk/displayNode...e=sidebarsearch

GUEST HOUSES HIT BY MARKET SLUMP

MIKE LARKIN

MICHAEL.LARKIN@GRIMSBYTELEGRAPH.CO.UK

12:30 - 20 July 2005

Guest houses in Cleethorpes are the latest casualties in the property slump.

There is definitely a future for the guest house industry, but a lot will convert to residential housing or modify to cater for the contract sector. Despite being on the market for months, several properties have been left unsold.

There are nine bed and breakfasts for sale in the resort, with four alone on Isaac's Hill.

Most are valued at about £200,000, but with some owners unwilling to drop their asking price for a quick sale, they could be forced to hang onto their B &Bs for some time.

Alan Sutton and his wife Anne have put the Gladson Guest House, on Isaac's Hill, on the market so they can spend more time with their son, who has moved to Australia.

Mr Sutton said: "It has been on the market for 15 months, but it is hard to sell.

"Business has been better than last year thanks to the good summer we have had, so it is not a case of having to sell - business is ticking over very nicely at the moment.

"We are in no rush to get rid of the house."

Dorothy Johnson owns the Alben Ellie, on Clee Road, and is having difficulties finding a buyer.

She said : "I have had enough - I am retiring and I want to sell up.

"I had it up for sale last year as well but I took it off the market in October because I was going away.

"I have not found a buyer yet. I had an offer last year but I turned it down."

Bacons Estate Agents commercial sales expert Tim Clarke said: "The general consensus is the guest house market has been very slow for the last two years.

"A lot are now catering for the contract market rather than the leisure industry because the influx of tourists has been minimal.

"Many businesses are finding it difficult to cope.

"We have three properties for sale at the moment and two may be withdrawn from the market.

"There is definitely a future for the guest house industry, but a lot will convert to residential housing or modify to cater for the contract sector."

The market slowdown, he added, is a reflection of the difficulties facing the market as a whole.

Most of the properties were being sold through Nottingham Property Services. However, it said it is pulling out of the commercial sales market, and did not want to comment.

Other bed and breakfasts for sale include Abbeydale, on Isaac's Hill.

However, it's not all doom and gloom as there have recently been positive signs.

The Pelham View and Aaron Leigh guest houses, both on Isaac's Hill, have just changed hands. The new owners were unavailable for comment.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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