A boutique B&B in Hereford has gone up for sale with an asking price of £850k for the freehold, following news that the property’s owners of nine years are ready to move on.
Somerville House is a Victorian property, which transformed by owners Rosie and Bill into a five-star rated bed and breakfast nine years ago.
Built in 1895, the detached villa is situated in a tree-lined avenue and is home to 12 bedrooms.
Colliers International hotel director Peter Brunt also believes there is consider scope to upscale the business, with a more intense style of operation having the potential to generate profit as much as 50% of the net turnover of £225k for the year ended March 2016.
Brunt said: “The property was already a smartly presented business when our clients acquired it, and they have lavished considerable additional money on it since – but they feel a sale would allow them to invest in other business opportunities in Italy.
“Most importantly to potential buyers, Somerville House offers considerable scope to upscale the business – whether through converting part of the generous owners’ accommodation into another suite or by moving up a gear from the present rather relaxed business style of the current owners, who are of relatively mature years.”
Hereford itself acts as a major tourist centre for the surrounding area with a stream of visitors to the Cathedral and the Mappa Mundi exhibition and the Three Choirs Festival, triennially.