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spyguy

Scarborough Liquidity

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Mar 2012:

http://www.thescarboroughnews.co.uk/news/business/guests-distraught-over-selling-hotel-1-4299920

'ANOTHER Scarborough hotel is on the market as the owners of the Raincliffe Hotel put the business up for sale.

After nearly eight years running the guest house in Valley Road, owners Malcolm and Katherine Harper are selling up.

The business, which includes 14 ensuite letting rooms and recorded a profit of £89,337 in 2010/11, is on the market with an asking price of £550,000.'

Jan 2016:

http://www.rightmove.co.uk/commercial-property-for-sale/property-39113223.html?premiumA=true

OIRO 470K

'Situated in the attractive Valley Road Conservation Area close to the town centre and within easy walking distance of the beach, Spa complex, Rotunda Museum and the Art Gallery, the Raincliffe is a very well located guest house set amidst sought after imposing mainly residential properties on the popular south side of Scarborough. Following continued substantial investment by the owners the facilities are very well presented and this superb business drawing discerning commercial and tourist clientele has developed into a highly profitable venture. Owners also enjoy the marvellous benefit of a purpose built ground floor flat and, of course, the advantage of living and working in a beautiful resort.

Scarborough is a tremendously popular resort with a huge range of natural attractions, sights and activities. There are two lovely bays either side of a castle on a prominent headland, colourful harbour, bustling seafront with amusements and entertainment, golden sands, good surfing, award winning gardens, top class golf courses and the advantage of the North York Moors National Park on the doorstep. The Raincliffe is well located for access to all the major attractions and in particular those of the South Bay and town centre which include the wonderful Spa complex with its summer shows and conference facilities. Scarborough is a large town which generates commercial bedroom trade throughout the year and the Raincliffe is close to the new Coventry University Scarborough campus which opens in September 2016 and new sports village.

The current owners acquired the Raincliffe in March 2004 and have improved and extended the property whilst developing a highly profitable year round business. Works have included the creation of additional larger letting bedrooms, en suite facilities and owner’s flat, new central heating boilers, new hot water cylinder, electrical rewiring, new fire alarm system, complete roof renewal, a new kitchen, and replacement of most of the windows with new double glazing. Now, the decision to sell gives buyers a marvellous opportunity to acquire a superb business where the hard work has been done and all is in place for continued high profits.'

Its a shame I cannot find out what they paid.
It seems to have aquired an extra bed room in 4 years, or maybe even the EAs in scabby top out at 12 fingers.
And the question I always ask - Why sell if its profitable?

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Mar 2012:

http://www.thescarboroughnews.co.uk/news/business/guests-distraught-over-selling-hotel-1-4299920

'ANOTHER Scarborough hotel is on the market as the owners of the Raincliffe Hotel put the business up for sale.

After nearly eight years running the guest house in Valley Road, owners Malcolm and Katherine Harper are selling up.

The business, which includes 14 ensuite letting rooms and recorded a profit of £89,337 in 2010/11, is on the market with an asking price of £550,000.'

Jan 2016:

http://www.rightmove.co.uk/commercial-property-for-sale/property-39113223.html?premiumA=true

OIRO 470K

'Situated in the attractive Valley Road Conservation Area close to the town centre and within easy walking distance of the beach, Spa complex, Rotunda Museum and the Art Gallery, the Raincliffe is a very well located guest house set amidst sought after imposing mainly residential properties on the popular south side of Scarborough. Following continued substantial investment by the owners the facilities are very well presented and this superb business drawing discerning commercial and tourist clientele has developed into a highly profitable venture. Owners also enjoy the marvellous benefit of a purpose built ground floor flat and, of course, the advantage of living and working in a beautiful resort.

Scarborough is a tremendously popular resort with a huge range of natural attractions, sights and activities. There are two lovely bays either side of a castle on a prominent headland, colourful harbour, bustling seafront with amusements and entertainment, golden sands, good surfing, award winning gardens, top class golf courses and the advantage of the North York Moors National Park on the doorstep. The Raincliffe is well located for access to all the major attractions and in particular those of the South Bay and town centre which include the wonderful Spa complex with its summer shows and conference facilities. Scarborough is a large town which generates commercial bedroom trade throughout the year and the Raincliffe is close to the new Coventry University Scarborough campus which opens in September 2016 and new sports village.

The current owners acquired the Raincliffe in March 2004 and have improved and extended the property whilst developing a highly profitable year round business. Works have included the creation of additional larger letting bedrooms, en suite facilities and owner’s flat, new central heating boilers, new hot water cylinder, electrical rewiring, new fire alarm system, complete roof renewal, a new kitchen, and replacement of most of the windows with new double glazing. Now, the decision to sell gives buyers a marvellous opportunity to acquire a superb business where the hard work has been done and all is in place for continued high profits.'

Its a shame I cannot find out what they paid.
It seems to have aquired an extra bed room in 4 years, or maybe even the EAs in scabby top out at 12 fingers.
And the question I always ask - Why sell if its profitable?

Yup that's the question i thought the 2009> vintage BTL ers would have asked themselves when buy from the prior BTLer who bought for less

A paid for land reg search will provide the last sale price (if more than just curiosity)? https://eservices.landregistry.gov.uk/www/wps/portal/!ut/p/b1/04_Sj9CPykssy0xPLMnMz0vMAfGjzOKNjSxMDA1NjDwsjM3MDTxN3dyNDUNMjQ1MjPWDU_P0C7IdFQG9k5Tz/

  • a title register where you can find out who owns the property, price paid/value stated information if sold since April 2000 and any rights of way or restrictions on the land noted on the register for only £3 (view title register example new_window.gif)

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Yeah. Im to tight to pay £3!

Id love to know what 'recorded a profit of £89,337' means.

Revenue, in which case its pretty low.

Or Incoming - outgoings, without any charge for capital deprecation and wage cost.

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21 Valle yRoad, via houseprices.io

Registered sales:

Date Price Nominal
change
Real
change
31 Mar 2004 £290,000 61.1% 53.3%
09 Apr 2002 £180,000 n/a n/a

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Its did sell. Eventually.

08/11/2017  £412,500  21 Valley Road, Scarborough, YO11 2LY

5 years to sell. ~150k off asking.

 

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2 hours ago, spyguy said:

Its did sell. Eventually.

08/11/2017  £412,500  21 Valley Road, Scarborough, YO11 2LY

5 years to sell. ~150k off asking.

 

On another thread, back in January, I wrote - "As you say, this one failed to sell for £360,000 back in 2013/4 (as did all the others on your list), despite having been reduced from £450,000. It returns to the market for....£360,000."

 

Six months on it's still there.

So, if five years is the time it takes to sell an overpriced place in sunny Scarborough, they've still got some waiting to do...

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2 minutes ago, Shrink Proof said:

On another thread, back in January, I wrote - "As you say, this one failed to sell for £360,000 back in 2013/4 (as did all the others on your list), despite having been reduced from £450,000. It returns to the market for....£360,000."

 

Six months on it's still there.

So, if five years is the time it takes to sell an overpriced place in sunny Scarborough, they've still got some waiting to do...

https://houseprices.io/?q=+Vernon+Road%2C+Scarborough

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