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Q: We have a beautiful, 17th – century cottage and an attractive adjoining house built in the 1970s. For the past 20 years, we have been running a B&B with three en-suite rooms. We have the highest AA rating, five stars, and the business brings in a good income – but we want to retire. How do you think we should market it for sale? We are at a loss to know where to advertise and don’t think a local estate agency is the answer.
Lorna Vestey writes:
A: A Daltons website and weekly magazine probably have the most listings of this type of property, with more than 550 B&Bs currently advertised (DaltonsBusiness.com). Bed and breakfasts are mixed up with guest houses on a couple of other sites, BusinessesForSale.com and HotelsToBuy.co.uk, which may attract a slightly more business-orientated sort of buyer, rather than someone wanting a home with income who will pay extra to live in a special cottage. Regular estate agencies do sell properties used as B&Bs. Many people want to be able to make extra money and would regard it as a bonus to find everything already set up. A firm covering a wide region, rather than a small, strictly local agency, is most likely to have buyers for a beautiful period cottage with an established B&B business.
*Lorna Vestey is a former partner of a bluechip London estate agency.
Copyright 2008 Telegraph Media Group
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