New tenant sought for family run guesthouse with bar and restaurant near York Minster

Specialist business property adviser, Christie & Co has introduced to market, the opportunity to acquire The Minster Hub Accommodation & Zills Restaurant in York on a new 10-year leasehold basis, with a combined asking rent of £50,000 per annum.

Positioned on Gillygate in the city centre, a short walk from York City Walls and York Minster, the refurbished guesthouse comprises six en-suite bedrooms spread across four floors, combined with a ground floor restaurant and bar.

The business has come to the market as the current owners, Kurt and Karen Guzelkabaagac are looking to retire. They wish to retain the freehold and lease the property to a new operator.

A spokesman said: "There is significant scope to increase room turnover by advertising the letting rooms on additional booking platforms, increasing room occupancy throughout the year. There is also huge potential to increase trade in the restaurant by expanding trading hours through Monday to Sunday. Currently, Zills Restaurant is only open on Friday and Saturday from 5pm-9pm."

Kurt and Karen Guzelkabaagac commented: "As a family, we have enjoyed working together in York centre but we’re now looking to pursue retirement and my son is hoping to invest in other business ventures. The business has much more potential to offer and can easily trade to a much higher capacity, so we look forward to engaging with prospective leaseholders to take over our family business.”

Sam Ashton, Senior Business Agent at Christie & Co, who is seeking a new leaseholder on behalf of the couple, adds, “Demand for rooms continues to be very high in York, one of the most popular tourist destinations in the country. Combined with a restaurant, bar and breakfast room for guests on the ground floor, this is a fantastic opportunity for experienced operators to invest in and the leasehold structure opens up a more affordable opportunity for most hospitality operators.”