Hotel for sale

24 Royal Terrace, Royal Terrace, Edinburgh, EH7 5AH

Offers in Excess of £2,250,000

Property Description

Commercial information

  • Business for sale

Key features

  • 16 bespoke letting rooms
  • Includes two self contained apartments
  • Excellent central location
  • Bar/restaurant
  • Recently fully refurbished
  • Energy Rating G

Full description

Tenure: Freehold

Description

24 Royal Terrace is a superbly presented boutique hotel which has recently been upgraded to an excellent standard throughout. Fully managed the property includes 16 bespoke bedrooms along with hotel bar and restaurant area. The property is contained within a terraced townhouse of traditional sandstone construction set over four levels, with stepped landscaped gardens to the rear.

Location

The luxury boutique hotel is situated on Royal Terrace, one of Edinburgh's most desirable residential addresses, a short walk from The Theatre Royal and Omni Centre in Edinburgh city centre. The hotel is in walking distance of Waverley Train Station on Princes Street and excellent road links are provided. Edinburgh often acts as the gateway to the rest of Scotland for international visitors with Edinburgh International Airport reporting year on year growth.

Internal Details

Access is taken directly from Royal Terrace via a small stone staircase from street level. A small entrance vestibule in turn leads to the reception area, from which all the public accommodation can be accessed. The hotel includes RT's Bar at ground floor which also acts as the main dining accommodation for both hotel guests and non residents.

Ground Floor

The ground floor also includes a fully fitted commercial kitchen. One en suite letting bedroom is also provided to the rear of the ground floor.

Other Floors

Toilet and storage accommodation is provided at lower ground floor level, along with 2 large rooms which are sold as self contained apartments. One of the apartments benefits from separate external access and each includes a large double bedroom along with lounge area and kitchenette.

Fixtures & Fittings

All fixtures and fittings required for the running of the hotel are included within the sale; it is worth highlighting that the standard of fit out is very high and a great deal of money has been spent on high quality furnishings and high tech equipment to improve the guest experience. The hotel boasts a large art collection with pieces throughout the hotel owned by the current proprietor. The art collection is not included in the sale price but can be left in situ for a period of years on very reasonable terms, subject to negotiation (mainly regarding insurance and security).

Letting Accommodation

The hotel includes 16 en suite letting bedrooms, two of which can be let as self catered/serviced apartments. All rooms have recently been upgraded to a very high standard with a view to providing an excellent guest experience and include high speed wireless internet, smart TVs with soundbars and subwoofers, BluCube high definition speakers and Apple Airplay devices to allow on demand streaming of music and TV services.

External Details

The hotel includes landscaped gardens to the rear with a number of decked seating areas provided.

The Opportunity

Boutique hotel businesses like 24 Royal Terrace are rarely available and early viewing is recommended. The business provides a superb opportunity for an established or experienced operator to take on a superbly presented building in a highly desirable location in the city. Tourism and occupancy numbers in the city continue to thrive and will no doubt provide a healthy investment with 24 Royal Terrace bolstered by a strong underlying property value in a desirable city location. The sale is available on an asset or a share basis.

Staff

The hotel is fully staffed and currently operated under a management team. Staff will of course transfer over to a new purchaser under TUPE regulation.

Trading Information

The hotel is forecast to record an annual turnover in the region of £740,000 net of VAT. Full accounts will be made available to seriously interested parties once a non disclosure agreement has been signed.

Business Rates

The Rateable Value is £62,500 (2017) This is currently under appeal.

Regulatory

A full Premises Licence is in place and will be made fully transferable to a new operator.


More information from this agent

Nearest stations

  • Edinburgh (0.6 mi)
  • Edinburgh Waverley (0.6 mi)
  • Haymarket (1.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Edinburgh

18 George Street, Edinburgh, EH2 2QU

0131 291 0102 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Edinburgh (0.6 mi)
  • Edinburgh Waverley (0.6 mi)
  • Haymarket (1.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Edinburgh

18 George Street, Edinburgh, EH2 2QU

0131 291 0102 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 5244906-fh. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Christie & Co , Edinburgh. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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