Commercial property for sale
Alloa, Stirling, Falkirk & Clackmannan
like this property?Call 01592 506020
- Sale of Business
Excellent Business Opportunity!
A Substantially Profitable HMO Facility Currently Licensed For 20 Residents.
Eight Bedrooms, Two Kitchens, Two Shower Rooms and One Bathroom
Self Contained Manager flat comprises: lounge, two bedrooms, kitchen and bathroom.
Asking Price £500,000 www.remax-professionals.com RJ2107
Alloa is the largest town in the historic county of Clackmannanshire in central Scotland. It is situated on the North bank of the River Forth, with the Ochil Hills forming a glorious background. It lies 7miles to the East of Stirling. And approximately 7 miles West of the Kincardine Bridge. It provides the principal shopping, educational, social and support facilities for the immediate area within Clackmannanshire. At the 2001 census the population was approximately 18,000.
The property and business occupy a prominent position on the west side of Mar Place at its junction with Kellie Place. It is located close to the Town Centre, close to the Town Hall and the principal Police Station.
We are informed that the building dates from around 1900.
In 2001 an additional purchase of 1 Kellie Place took place to provide a self contained Manager’s Flat comprising: a well positioned lounge with windows overlooking Kellie Place and Mar Place, two bedrooms, a kitchen and bathroom.
The property other than the manager’s flat encompasses three floors and provides 8 bedrooms with associated lounge, kitchen and support accommodation.
The Ground Floor provides an entrance hall, lounge, 3 bedrooms, kitchen with eating area, bathroom, and one further bathroom.
The First Floor provides 2 bedrooms, kitchen with eating area and shower room.
The Second Floor provides three bedrooms and a shower room.
The Business. This privately owned business has been in the current owner’s hands for 13 years. The premises have been operated as an HMO for these 13 years and are currently licensed for 20 residents. The majority of residents are referred from the Local Authorities in the area (Clackmannanshire and Stirling) on the basis of periodic short term arrangements albeit these may last up to three months and in some cases longer.
It is open for 12 months of the year and is staffed on a 24/7 basis by a series of three manager/caretakers with the owner providing management and administrative support. Effectively Local Authorities have a statutory obligation to house the homeless and the various nearby local authorities use this facility to meet this obligation.
The business benefits from high occupancy levels of around 80% and can generally be full for extended periods of time. In other words although lettings may be on a daily/nightly basis these are often lengthened to several weeks or longer.
With regard to competition there are other HMO and homeless facilities in the area but for some time now there is a definite undersupply of accommodation for the homeless and similar categories in the local authority area.
The demand for the services offered by Tarragon House is if anything likely to intensify given heightened social awareness in terms of homeless and associated problems.
Externally there is a small car parking area on the north side of the property at 1 Kellie Place and a fully enclosed rear yard to the west side.
Services. We are informed that the property is served with mains supplies of water, gas and electricity and that the drainage is connected to the public sewer.
Heating is by a series of radiators served from gas fired boilers. This also provides hot water.
Trading Information. The business supports an strong trading performance over the years and with its income generated from local/authority /government sources is therefore less subject to unpredictability than normal private sector business.
Financial information including accounts will be made available to seriously interested parties.
The Property is Freehold.
Strictly by appointment through Ronnie Jenkins at RE/MAX Professionals on 0845 601 9676.
Viewings will normally be arranged for Saturdays at times to suit but preferably between 11AM and 2PM.
All offers should be submitted to the RE/MAX Professionals office.
It is important your solicitor notifies this office of your interest otherwise this property may be sold prior to your knowledge.
Ronnie Jenkins. We’re open when other agents are closed. Your RE/MAX agent is available evenings and weekends.
Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and RE/MAX have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.
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