The Mowbray, an AA 4-star guest house in the centre of Eastbourne, West Sussex, has been sold through Christie & Co, off an asking price of £839,950.
This distinguished Edwardian guest house features 12 en suite guest bedrooms, all of which have views of either Devonshire Park and Devonshire Park Theatre with the Downs in the background, or of Lascelles Terrace itself.
The guest house has been run as a fulltime business, rather than as a lifestyle business, and therefore has achieved a strong turnover. In addition to its AA rating, it was also named as the Les Routiers’ ‘Guest House of the Year’ in 2016.
Since 2008, The Mowbray has been owned by Darren and Laura Weir. The couple decided to sell the guest house to concentrate on their full-time careers and to allow them to spend more time with their young family.
The incoming owner, Roy Burman, has purchased the business to be run by one of his sons. The family already own a country house-style guest house and pub in the local area, and saw the purchase of The Mowbray as an ideal opportunity to continue with this successful business and to enjoy the income it generates.
Andrew Moore, Director at Christie & Co, handled the sale and comments, “Having been unsuccessful in selling the business with another agent, Mr and Mrs Weir came to us for help.
'Although it took a little while to find a buyer, we had two offers for it at the time and agreed the sale to Mr Burman. The transaction took longer than we would have hoped, but we dealt with all the hurdles put in front of us and got the sale through.”
The Mowbray is situated close to the Grand Parade, which forms part of Eastbourne’s 4.5-mile seafront and is close to the Devonshire Theatre and Winter Garden.