We are pleased to announce the completed sale of the Beeches Guest House in Clacton, Essex. Having initially been on the market for a few years with a residential estate agent and another business agent we took on this instruction in October 2015. Buyers were introduced to the property in December 2015 and terms agreed just before Christmas. Unfortunately the deal did not progress as quickly as was initially planned as the owners wanted to be out before the bust summer period began. Hold ups with solicitors and banks meant that the deal completed yesterday having exchanged contracts a couple of weeks ago. The old owners are now conducting a small handover period to the new owners and can then enjoy their retirement.
We wish the new owners, the Dayal family good luck in their new venture and continued success with the running of the business.
The process to buy or sell a business is rarely something that moves quickly and particularly with the sale of hotels or guest houses it is important to consider the time of year that the sale will actually happen. Whilst it may be attractive for new owners to take over the business during the busiest time of the year, if you are new to the industry it can be a daunting challenge to walk straight into that hectic environment.