10 bedroom hotel for sale

WEST END HOTEL 35 Palmerston Place,Edinburgh,EH12 5AU

Offers Over £2,000,000

Property Description

Commercial information

  • Business for sale

Full description

Tenure: Freehold

INTRODUCTION

Located in the popular West End of Edinburgh the West End Hotel is readily accessible to all of the activities - tourists; commercial; entertainment; etc - of Edinburgh's City Centre and is only a short distance from Haymarket where there is the main line railway station and an Edinburgh tram stop. A whole, terraced, townhouse, the West End Hotel has been extensively refurbished and upgraded to provide a range of versatile accommodation including traditional ensuite bedrooms as well as hostel style bunk dormitory accommodation, ensuring the business is of appeal to a range of visitors to Edinburgh. Added to this is the valuable bar and dining facility at the ground floor.

Edinburgh is Scotland's Capital City and an UNESCO World Heritage Site. It benefits from having one of the UK's strongest economies outside London and is a major centre for financial services, government, science, technology, education, art and of course is home to the Scottish Parliament. Tourism, to Edinburgh as a key European City, is an important economic main stay and there is a strong year round tourist market enjoyed by Edinburgh. The City hosts a range of Festivals throughout the year including the world's largest and well renowned Edinburgh International Festival and Fringe. Edinburgh benefits from an excellent communication network with transport links by road and rail to all major cities in the UK whilst Edinburgh International Airport is one of the fastest growing airports in the UK providing regular service to London and a number of European destinations.

With the vendor's decision to sell, to allow him to concentrate on other business interests, the availability of the West End Hotel is a fantastic opportunity to acquire a valuable asset in the City Centre which trades producing an excellent level of profitability.

THE PROPERTY

The West End Hotel is a terraced Victorian townhouse, Historic Scotland Category B Listed Building, which has its accommodation over five main levels briefly as follows.

PUBLIC AREAS

From the street steps lead up to the main entrance which gives access to the Entrance Hallway. To the left is the open plan bar and dining area which stretches the full depth of the property with the bar area (25) to the front and casual dining area (30 to the rear. At lower ground level is the communal kitchen for guests staying on a self catering basis and an adjoining dining area (10) and alongside there is a guests laundry with coin operated machines.

LETTING ACCOMMODATION

There are a total of 10 Letting Bedrooms/Dormitory's to sleep up to 66 persons configured as follows.

The bedrooms are located at first, second and third floor levels. There are communal shower room facilities on the first floor for guests in the non ensuite dormitories.

SERVICE AREAS

At lower ground level main commercial kitchen. Separate office. Office at mezzanine/half landing. House-keeping stores at upper levels. Boiler room in garden level extension. Under pavement stores to the front including beer cellar.

STAFF ACCOMMODATION

At lower ground level there are two double bedrooms one with ensuite facilities.

OUTSIDE

At the rear of the property there is a small townhouse garden and terrace area.

SERVICES

City of Edinburgh Council (0131 200 2000). Mains water, electricity, drainage and gas. Central heating from gas fired boiler.

LICENCE

Premises Licence.

WEBSITE

www.thewestendhotel.co.uk

TRADE

Management accounts for the year ended 30th April 2016 show a total turnover of 390,092 (net of VAT) with a resulting EBITDA profit of 146,594. Trading accounts will be made available to genuinely interested parties, preferably after viewing.

PRICE

Offers over 2,000,000 for the freehold (heritable feuhold/outright ownership) property complete with goodwill and all trade contents (according to inventory) but excluding personal items. Stock at valuation.

OFFERS

All offers should be submitted to Colliers International with whom purchasers should register interest if they wish to be informed of closing dates.

FINANCE

Colliers International is able to assist prospective purchasers by introducing sources of finance if required. Whilst we do not charge the buyer for this service, we may receive an introductory commission from the lender or broker involved.

TO VIEW

All appointments to view MUST be made through the vendors' agents who are acting with sole selling rights.

DIRECTIONS

See location map.



More information from this agent

Energy Performance Certificates (EPCs)

Nearest stations

  • Haymarket (0.3 mi)
  • Edinburgh Waverley (1.1 mi)
  • Edinburgh (1.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Colliers International (Hotels), Edinburgh

1 Exchange Crescent, Conference Square, Edinburgh, EH3 8AN

0131 291 0011 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

  • Haymarket (0.3 mi)
  • Edinburgh Waverley (1.1 mi)
  • Edinburgh (1.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Colliers International (Hotels), Edinburgh

1 Exchange Crescent, Conference Square, Edinburgh, EH3 8AN

0131 291 0011 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 209433. 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 Colliers International (Hotels), 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.

Map data OpenStreetMap contributors.