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GUEST HOUSE, HISTORIC FARO, ALGARVE (Faro, Portugal) Asking Price:£110000

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GUEST HOUSE, HISTORIC FARO, ALGARVE


Revenue £on request, Net Profit £on request, Established we believe 1961, I have owned since 2005

The Guest House is located in an excellent position in the City of Faro. It takes just 3 minutes to walk to the Marina and Old Walled City, 7 minutes walk to the bus station and 10 minutes to the train station. We are the first Guest House encountered on the walking route from the Tourist Information office into Faro. The building is on a corner with a large, Jacaranda tree filled square in front and a smaller square to the side. There is a minimarket within 30 seconds and 3 cafes within 30 seconds walk, a further 4 within a minute and a wide choice of restaurants from 30 seconds to 5 minutes walk.

The building consists of:

Seven bedrooms on the ground floor with its own entrance door into a traditionally tiled hallway. The bedrooms share 2 bathrooms on this floor and the whole floor is fully tiled. The rooms are currently laid out as 2 double bedrooms, one single, 3 twins and a 4 bedded room (2 single beds and a set of bunk beds).

The front door leads up traditional stone stairs to a corridor where the bedrooms are. These rooms each have a private shower cubicle and hand basin inside the room and most of the furniture is renovated antique wood. The floors to the bedrooms are varnished wood floors. There is a family room with a double bed and a set of bunk beds. The rest of the bedrooms have French doors to small verandas and are currently set up with 3 double rooms and 2 twins. One of the double rooms has a window overlooking the large square and French doors to the veranda also overlooking the square. One of the twin rooms is on the corner of the building and so it has 3 French doors to 3 verandas. The second twin has 2 French doors to a longer veranda. The other two doubles are smaller and have one French door and veranda each. On this floor there are 2 bathrooms along the corridor with the bedrooms on one side and the corridor leads to Reception.

There is a door from Reception into a small covered area with storage for cleaning equipment etc. From here there are stone stairs leading down to the laundry and storage area. Stairs also lead up to the large roof terrace which covers the whole building. There is a further room up here for storage, office use, communial room, kitchen, etc.

Faro is the capital of the Algarve and the airport is about 8km from the City. It is not a tourist resort and therefore attracts cultural tourism and people who want to stay someone genuinely Portuguese. It is a living/working city and does not become a "ghost town" in the winter months. There are 3 wonderful beaches on the islands surrounding Faro and these beaches never get crowded, even at the height of summer.

This is an ideal business for a couple to run, or a family with older children who can be involved and there is a huge opportunity for expanding the business with more people involved. I have been running it on my own for 9 years and with more than one person doing this, the potential is much better. There are many possibilites and options to change the room layouts, convert some of the rooms to dormitories, have a common room with a kitchen and to make a feature out of the wonderful roof terrace.

It is possible to live in one of the bedrooms or to convert other areas for permanent living.  There are many small apartments available nearby for low priced rental or further away you can rent more space for less. 

My reasons for selling are personal and I am looking for a quick sale so the business is priced accordingly.

Facts, figures and further information are available on request from serious enquiries.

Business Information

Number of Staff

owner run

Ownership

lease

Any Expansion potential

Yes - see description

Reasons for selling

Personal and details given on request.

Any Inventory / Stock value

Bedding, towels etc

Is this a home-based business

No

Property

Telephone 00351289829825

Business Location details

See description

Competition / Market

There are other Guest Houses, Hostels and Hotels in Faro, this one is in a great location

Trading hours

09:00 until 24:00 (and after midnight if necessary)

Any Support & training

I will do a handover

Any Furniture / Fixtures

Fully furnished and all fixtures (mirrors, pictures etc)

Any Living Accommodation

It is possible

Can this business be relocated?

No

Is this business part of a franchise?

No