The end (of phase 1)
It’s ironic that when I set up this blog I tagged the first lot of posts ‘The beginning’ and now it seems we’re at the end and I don’t remember the middle.
Around 8 weeks ago Danny and I received a phone call that changed our lives, and yesterday we received another phone call that changed the direction. The beautifully patient and enthusiastic proprietors of Porthminster View finally accepted another offer on the building. After putting off their estate agent for over a week in anticipation of a successful mortgage application our last rejection was the final straw and they just had to pin their carriage to another train – one that doesn’t need a mortgage to get it moving. If ours is a steam engine – traditional and nostalgic, theirs is an express – fast, efficient and less likely to break down.
I don’t blame them. This has been a highly emotional journey for both us and them, and I truly believe they were as disappointed as us when they called yesterday. The saddest thing about the whole affair is that the new owners are not going to run Porthminster View as a guesthouse and so another B&B bites the dust, and another view of the St Ives beach and harbour is privatised.
In an environment where holiday companies are going bust left, right and centre, and oil prices are going to restrict the number of people who can afford flights more and more each year, it’s a sad state of affairs that one of the UK’s busiest tourist destinations is likely to run out of medium priced guesthouses due to private purchases and a banking industry who make it impossible for small businesses to get a break.
On a personal, less holistic, note I am sad for us. Sad that something which for the first 4 weeks seemed so right, could go so wrong. The accidental visit, the ease with which I sold my flat, and the accepted offer so far below the asking price all combined to give us a very strong feeling that this could not go wrong.
However if we’re going to be positive about this and, let’s face it, what choice do we have? This hasn’t gone completely up the spout. OK, so Porthminster View wasn’t the place for us, that doesn’t mean that another place won’t be. It doesn’t mean that the guesthouse we should be running isn’t out there somewhere waiting for us to come along and take it over. After all we now have the following information, none of which we had 3 months ago.
- We know we want to run a guesthouse
- We know we want to be in Cornwall, preferably St Ives, definitely by the coast
- We have a template for a guesthouse business plan
- We have projections for a guesthouse turnover
- We know the lending criteria we need to meet
- We know our budget
So the only question remains is what to call this blog. I’m regretting calling it after the name of the guesthouse we were hoping to acquire (maybe I jinxed it?!), but I have never once regretted starting it up and I certainly don’t want this to be the end.
Will think on it… Watch this space.