"This is a fabulous, turnkey opportunity for a new owner who could either operate the guest house as a lifestyle business or, if they wished to invest more time, push the business on to the next level."
A long-established Llandudno guest house has been placed on the market by its owners following a thorough refurbishment. Proprietors Stephen Bradford and Eniko Polczman have instructed Blacks Business Brokers to find a new owner for Cadnant Guest House in the centre of the historic seaside resort with an asking price of £380,000 to take over the freehold.
Mr Bradford and Ms Polczman acquired the business, then in a state of disrepair, in 2018 with a view to redeveloping it and establishing it as a viable business before moving on to a larger project. After doubling turnover to £60,000 in their first year of ownership, and now being on course to increase revenues to more than £78,000 in their second year, the couple have achieved their goal and are ready to realise their investment.
Cadnant Guest House, located on Lloyd Street in Llandudno town centre, has provided accommodation for visitors to the famous seaside resort since 1891. Housed in a four-storey Victorian property, it includes seven guest rooms, a two-bedroom owner’s apartment, dining room, guest lounge with licensed bar, catering kitchen and newly fitted hot-tub.
The location is close to the town’s train station and seaside attractions. Free on-street parking is also available in the immediate vicinity.
Mr Bradford is a builder by trade who also has almost two decades’ experience in the hospitality trade. This includes building and launching bars in New Zealand and carrying out operations and general management roles in hotels in New Zealand and the UK.
Ms Polczman also has more than a decade’s experience in the hotels sector. Once the business is sold the pair, who have ambitious long-term plans in the hospitality sector, plan to take on a larger hotel project.
Immediately before acquiring Cadnant Guest House Mr Bradford engaged in property development while also working as a manager for a national hotel chain. He used the profits from this activity to fund the purchase of the guest house.
After taking over Cadnant Guest House the pair embarked on a comprehensive redevelopment, bringing the property up to modern electrical and plumbing standards as well as reconfiguring the ground floor and owner’s apartment. A number of the guest rooms were renovated as part of the project, a bar was installed in the lounge area, a hot tub was fitted in the rear courtyard and the property was comprehensively redecorated.
Mr Bradford estimates the project involved around 2,000 hours of work carried out both by him and a number of other skilled tradespeople – an investment he values in the region of £70,000. In addition to the physical works, Mr Bradford and Ms Polczman have also secured an alcohol licence for the premises and introduced a new website with its own built-in booking facility.
The business is currently run by the owners alone. According to Mr Bradford the guest house would remain profitable if a housekeeper were to be employed, with whose support the business could be operated by an individual owner working full-time, or a couple both working part-time, even during the peak summer months.
Callum Pollard, customer service executive at Blacks Business Brokers, said, “Stephen and Eniko have done a fantastic job in a short period, investing a significant amount of money and a huge amount of time to transform Cadnant Guest House into a genuinely luxurious bed and breakfast with an excellent reputation. This is a fabulous, turnkey opportunity for a new owner who could either operate the guest house as a lifestyle business or, if they wished to invest more time, push the business on to the next level.”
All enquiries should be directed to Blacks Business Brokers on 0333 370 0000, quoting reference 6996.