The Esplanade, Woolacombe
£2,250,000

Investment Opportunity in Devon Coastal Property

Chichester House, formerly the Barricane Hotel, offers a unique investment opportunity in a grand, historically rich semi-detached property. Located along the stunning Devon coastline, it features multiple holiday apartments with potential for further development, including converting existing rooms into up to four additional letting units.

Prime Location

With uninterrupted views of Woolacombe, Barricane, and Combesgate beaches, this property is ideally situated for attracting tourists. Its proximity to local amenities, including shops, restaurants, and surf schools, enhances its appeal. The area's popularity with surfers, hikers, and holidaymakers ensures a steady stream of visitors.

Current Operations and Potential

Currently operating successfully as a holiday let business with owner accommodation, Chichester House is consistently booked during peak seasons. The flexible layout and mostly stud walls allow for cost-effective reconfiguration, maximizing rental income potential.

Detailed Layout

Ground Floor: Includes owner's accommodation, multiple rooms with potential for conversion, and a games room.
First Floor: Features three letting units with sea views and balconies.
Second Floor: Hosts two additional letting units, offering a mix of double and twin bedrooms.
Outdoor Spaces

The property includes a front patio and a secluded rear patio with elevated coastal views, enhancing guest experiences. Access is provided via a well-maintained private road.

Additional Information

SELLER FINANCING A POSSIBILITY, TO BE NEGOTIATED WHERE APPROPRIATE

Contents and furnishings of the holiday apartments can be included. Plans and a topographical survey are available upon request. All mains services are connected.

This property represents a versatile and lucrative investment opportunity in a sought-after coastal location.

For more details, please contact the agent.

Ground Floor
The owner's accommodation on the ground floor includes a conservatory/porch with beautiful views of the beach and sea, a cosy living room with a gas fire and a blocked archway leading to the former dining room, a bedroom with an en-suite shower, a dining room, and a kitchen, bathroom, and laundry area. Additionally, there are other rooms and areas such as Room 1 with a window offering a front view, Room 2 with a similar view and a side door, and Areas 1 and 2 designated for kitchen and bathroom use, intended for future completion as a letting unit. Adjacent to the games room is a side entrance with a store and access to the rear of the property.

First Floor
The first floor includes the letting unit 'Morte View', featuring a double bedroom, bathroom, and an open plan lounge, kitchen, and dining area with a balcony providing expansive sea views. There are also flatlets named 'Bay' and 'Lundy', each comprising a bedroom with seating and cooking facilities along with a balcony. A shared shower room and WC are provided. Additionally, there are Room 1 with a rear window, storage cupboards on the landing, Room 2 currently serving as a workshop with a rear window, and Room 3, intended as a bedroom, living area, and bathroom for the former 'Retreat' letting unit, awaiting completion.

Second Floor
On the second floor, there's the letting unit 'Shell Bay' consisting of a double bedroom, shower room, and an open plan lounge, kitchen, and dining area. 'Hartland', another letting unit, includes a twin and double bedroom, bathroom, kitchen/diner, and lounge.

Outside
The front patio can be accessed via steps from the pavement, offering a level area of approximately 15m x 6m. Side access leads from the front to the rear, providing entry to Shell Bay and Hartland. At the rear, there's a very private and secluded patio accessible via steps from the front or directly from the rear. The garden/patio boasts elevated coastal views and measures approximately 14m x 13m. Access to the rear of the property is facilitated via Rockfield Road, a private road maintained by a Management Company, with users contributing £100 annually for its upkeep.

Additional Information
The contents and furnishings of the holiday apartments can be included along with bed linens towels and associated other associated sundries.

Agent Notes
The rear patio is very secluded and offers great privacy.

Plans of the building and a topographical survey have been completed on the property and can be provided to prospective buyers on request.

We have been informed by the vendors that all services are mains connected.

To comply with the Property Misdescriptions Act we must inform all prospective purchasers that the measurement are taken by an electronic tape measure and are provided as a guide only, they should not be used as accurate measurements. We have not tested any mains services, therefore prospective purchasers should satisfy themselves before committing to purchase.