TheWhites

We have no word from our "buyer" for our B&B, and fear the worst.

This has led us to think outside the box and we have come up with a proposal that may be of interest to a family moving back to the UK.

Our B&B is currently on the market at £695,000. It has 15 en-suite bedrooms and also included is separate 5 bedroom house for the owners.

We are now offering the B&B as an outright purchase of £625,000, or if you buy it at £695,000 we will put £90,0000 towards your deposit. This means you could purchase the buildings and business with as little as £25,000 cash. Te business and home has been independantly valued at £750,000.

The business turns over £160,000 per year, and makes a profit before finance of £80,000. This means a family taking the maximum loan would clear £45-50,000 a year, after the business has paid for all mortgages, council tax and utilities for both the business premises and private residence.

Detailed trading figures for the last 5 years can be made available to any interested party.

jewels

are you sure you want to give all that up.

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Jewels..

annette

hi there,thats a very good offer,if you have no luck why not try the morning advertiser and the publican.
would you consider leasing the b&b and charging a rent for the house and b&b.that way when things pick up you still have your property to sell.
just a thought.
leasing would give you a good chunk of money and a regular income,think this is appealing to more people at the moment,with mortgages being so difficult to obtain.
good luck in whatever you decide to do,and look forward to meeting you and your family when you move over.
annette

tc22

I agree with jewels, why would you want to 'give' away your hard earned buisness. Look we have been planning this trip for 5/6 years and everytime we think it is the time something comes up! Maybe now is not the time for you and you are being told something! You are lucky because like us your kids are still young enough and another year is not going to matter, times are hard at the moment and if you show you are desparate to sell then you might regret it.

We have a buisness in the Uk, a timber merchants, which funny enough is booming at the moment, we want to sell that but while it is earning us a good living i am not prepared to rock the boat while the country / world is suffering a knock. The time will come where we decide to sell it or more likely keep it as an income to keep us in Tenerife.

Why not try annette and steves thoughts, a good idea? You have nothing to lose.

Good Luck but we have been in the same sutiation as you and we are still not there, i am a great believer in what will be will be

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TheWhites

Thanks for the responses.

After 5 years of working 7 days a week, we have had enough, plus we feel the time is right for the kids age-wise.

It may sound we are giving a lot away, but we are lucky enought to have bought property at the right time, and been diligently paying mortgages of over £70,000 per year for the last 5 years.

We have stacks of equity, even selling below, and have decied this is the right time to cash it in. We have no desire to be multi millionaires and have spent months doing our sums to decide what we need to comfortably set up our new life in Tenerife.

We are firm believers that life is for living and fear that we may end up stuck here for years if we don't take some positive action.

We have already had firm offers on everything apart from the B&B, so this is the last piece of the puzzle, hence the incentive

tc22

I understand where you are coming from, my hubby has had 15 years working7 days a week and i have had 9 years too!

We are like you, we have a buisness worth over a million, plus 5 properties like you that have alot of equity in them, and i am desperate to move to Tenerife but the way things are at the moment is not the right time for us (more so because of family issues), i just want a more chilled out life for me and my family after all the hard work!

The only good thing for us really is that if things get 'worse' then we can move while the company runs itself, and i understand that for you that is not an option which makes things a little harder Are you selling everything here in the UK or are you keeping something as a back up? Our plan is to keep 4 of our properties for our pension and our family home for 2 years rented out unti we have settled, if we don't then atleast wehave something to come back to.

Good Luck with it all and as i said just be patient 6 months is not going to make any difference but that extra how ever much might make a big difference to your family.

BE PATIENT!!!!

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