Vanessa & Phillip Moyle had previously let out just one room of their house in Salcombe in South Devon and after some time decided that they wanted to use their love of meeting people and their hospitality skills to develop a business in the popular North Devon coastal village of Lynton.
They spent some time looking for the right property and eventually settled on a 4* guest house, Rockvale House. Rockvale House had been owned for a number of years by the same people and was traded very much to suit their personal requirements. This presented a great opportunity for Vanessa & Phillip to purchase a well-established 8 bedroomed Guest House located in the heart of Lynton and within the Exmoor National Park with great views.
As the concern had been traded for just 6 months of the year and often closed during peak times the accounts did not reflect the true potential of the business which can make it a challenge to fund from a lenders point of view. As we, Stewart Hindley & Partners, are specialists in hospitality finance we were able to present a solid case to the lender with achievable goals and projections showing that debt service could be met.
Vanessa and Phillip completed on their purchase in December 2018 and are now looking forward to operating the business on a year round basis and sharing the beauty of North Devon and Exmoor with their guests and, of course, meeting lots of new and interesting people along the way!
If you are looking for a warm welcome, comfortable stay and panoramic views why not choose Rockvale House on your next visit to the area!
What Vanessa & Phillip say about Stewart Hindley & Partners….
From the first moment we contacted Stewart Hindley & Partners and spoke to Carol and then Mike Cox they could not have been more helpful, they were straight on the case working at such a speed it was brilliant. Mike took away so much pressure and stress normally associated with a purchase like this, he spoke to us in such an open and honest way it was really refreshing. His professionalism was superb and we are very grateful to him. We know Carol did so much behind the scenes too. We have no hesitation in recommending Mike Cox at Stewart Hindley & Partners 100 per cent.
Ness and Phil, Rockvale House