For Sale
Guide Price £2,250,000Round Tower Apartments Investment 41 The Esplanade
Burnham-on-sea, South West TA8 2AQ
United Kingdom
Burnham-on-sea, South West TA8 2AQ
United Kingdom
Category Investment, Residential
CODE 7785
The Round Tower occupies a seafront location, east of the seaside town of Burnham-on-Sea. Historically, Burnham-on-Sea was known as a small fishing village, but today the town is a popular seaside resort offering shops, cafes and restaurants. With seven miles of golden sand beach stretching between the resorts of Burnham-on-Sea and Brean, the Round Tower Holiday Apartments provide the perfect location for tourists visiting the seaside town. The newly converted and renovated building offers 13 luxurious and contemporary 1 and 2 bedroom self-contained apartments, ideal for couples, families, and groups throughout the year. Conversion works were completed in June 2024 following which the vendors have operated the property as a serviced accommodation business which is now offered For Sale as a going concern.
The property is arranged over ground, first and part second floors, the top floor of the rear forming the original lighthouse tower. The property benefits from unique architecture to include the original lighthouse tower and a castellated section to the front elevation. The buildings façades are finished in render, with a parapet roof and top hung casement windows at both ground and first floor level. The property is accessed off the Esplanade and fronting the property is a car park with parking for 11 vehicles (including 1 disabled space).
Internally the property has undergone extensive renovation and extension works and comprises 13 no. self contained residential apartments, which since completion in June 2024 have been used as short term holiday lets. Accommodation is finished to a high standard and are all self contained apartments which could continue to be let on a short term basis or longer term under ASTs. Accessed via a communal entrance to the front of the property, each apartment benefits from key safe access with Ring doorbells. A communal stairway provides access to the first floor with external fire escapes and grounds provided.
Please see the income statements for a breakdown of revenue and costs. In August 2024 the net income was circa £17,500. Income statements do not take into account vendors utilities costs.
Long Term Letting - The vendors have progressed terms with a party interested in leasing all apartments in the scheme initially on a 1 year contract (providing workers accomodation for an infrastructure project). This would negate the need for a purchaser to operate the property as a holiday let. This is to commence in 2025 at £31,800pcm net of VAT. There would be no laundry or cleaning services provided (although minimal communal cleans will be done). The landlord would still need to incur the cost of services (Gas - £910pcm, Electricity - £800pcm, Waste Removal - £59pcm). The first 8 rooms are to be occupied in January 2025. After utilities costs this might suggest circa £30,000 per month.
Video Tours and photographs are provided in the information pack. Viewings are strictly by prior arrangement. Set viewing slots will be offered to interested parties.
The property is arranged over ground, first and part second floors, the top floor of the rear forming the original lighthouse tower. The property benefits from unique architecture to include the original lighthouse tower and a castellated section to the front elevation. The buildings façades are finished in render, with a parapet roof and top hung casement windows at both ground and first floor level. The property is accessed off the Esplanade and fronting the property is a car park with parking for 11 vehicles (including 1 disabled space).
Internally the property has undergone extensive renovation and extension works and comprises 13 no. self contained residential apartments, which since completion in June 2024 have been used as short term holiday lets. Accommodation is finished to a high standard and are all self contained apartments which could continue to be let on a short term basis or longer term under ASTs. Accessed via a communal entrance to the front of the property, each apartment benefits from key safe access with Ring doorbells. A communal stairway provides access to the first floor with external fire escapes and grounds provided.
Please see the income statements for a breakdown of revenue and costs. In August 2024 the net income was circa £17,500. Income statements do not take into account vendors utilities costs.
Long Term Letting - The vendors have progressed terms with a party interested in leasing all apartments in the scheme initially on a 1 year contract (providing workers accomodation for an infrastructure project). This would negate the need for a purchaser to operate the property as a holiday let. This is to commence in 2025 at £31,800pcm net of VAT. There would be no laundry or cleaning services provided (although minimal communal cleans will be done). The landlord would still need to incur the cost of services (Gas - £910pcm, Electricity - £800pcm, Waste Removal - £59pcm). The first 8 rooms are to be occupied in January 2025. After utilities costs this might suggest circa £30,000 per month.
Video Tours and photographs are provided in the information pack. Viewings are strictly by prior arrangement. Set viewing slots will be offered to interested parties.
William Matthews
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Olympus House, Olympus Park Quedgeley, Gloucester GL2 4NF
01452 880152
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William Matthews
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Olympus House, Olympus Park Quedgeley, Gloucester GL2 4NF
01452 880152
These particulars are intended as a general guide only and do not constitute any part of an offer or contract. All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given without responsibility. Intending purchasers or tenants should satisfy themselves as to the accuracy of all statements and representations before entering into any agreement. No employee or partner of Bruton Knowles has authority to make or give any representation or warranty in relation to the property.