Restaurant for sale

Upper Largo Hotel & Restaurant, 4 Main Street, KY8

Offers Over £595,000

Property Description

Commercial information

  • Business for sale

Key features

  • 3 Letting Rooms, Function Room & Public Bar
  • Conservatory Restaurant, Owner's Accomm
  • Award For Excellence and 4.5 out of 5 on TripAdvisor
  • Turn-Key Business Opportunity, Coastal Location

Full description

Tenure: Freehold

Bruce and Co. are privileged to introduce to the market The Upper Largo Hotel & Restaurant.

The business is situated in the village of Upper Largo, Fife and provides an excellent base for visiting Fife, The East Neuk and the East coast of Scotland. Upper Largo Hotel has been under our clients ownership for over 14 years and they have reluctantly now taken the decision to place the hotel on the market due to their need to concentrate on other business interests. Throughout their ownership they have continually developed and improved the business, which shows in the year on year increase in turnover and profitability. Our clients have recently carried out substantial renovations throughout the hotel, these renovation plans have been carefully thought out and implemented to a high standard which can only be truly appreciated through viewing the property and business.

We have been informed that annual turnover is in excess of £500k which is derived from a combination of restaurant & bar sales, letting room accommodation bookings and in addition, income is generated through private events and functions including weddings which are becoming increasingly popular at the Upper Largo Hotel.

The property currently has 3 well presented en-suite letting rooms offered on a bed and breakfast basis and the business has established an enviable reputation for providing a good service and first class food in the restaurant and bar with food served 7 days a week. Although marketing is carried out through the hotels informative website www.upperlargohotel.com and the business is trading well with a great reputation, we believe that income could be further generated by expanding the marketing of this business, in particular promoting the functions and events held at Upper Largo Hotel.

Upper Largo Hotel is situated in the village of Upper Largo in Fife. This popular village offers local services including a good primary school and along with neighbouring Lundin Links, shops, Post Office, butchers, baker & bank plus another primary school are within a short distance. Lundin Links is also the home of the Lundin golf Club, an Open golf qualifing course. Within a 2 mile radius of the Upper Largo Hotel there are 3 caravan holiday parks all of which use the Hotel during holiday seasons.

A new 64 build housing development located within the village is currently underway and should help bring extra income to the business.

The village of Upper Largo is on the main A915 road and is situated 10 miles from the ancient and historic cosmopolitan university town of St. Andrews. The village is well placed for accessing Fife's abundence of highly rated golf courses, in particular the Old Course at St Andrews which regularly hosts the British Open. Edinburgh to the South and Dundee to the North, both within one hours drive provides further easy access to major Scottish cities.

The quaint East Neuk with its pretty fishing villages such as Pittenweem, Anstruther and Crail as well as the particularly sought-after and exclusive tourist villages of Elie and Earlsferry are all within a 30 minute drive to the East of the Upper Largo Hotel.

The area around Upper Largo is filled with rolling countryside and coastline. As a result of these surroundings the area is home to an array of wildlife and provides a fine choice of activities for the outdoor enthusiast such as walking, riding, sailing and cycling.

The business, a 17th century Coaching Inn, occupies a white stone detached building which is well presented externally and in-keeping with the traditional style and period of other neighbouring properties. This 2 storey hotel has 3 letting rooms, 2 of which are located on the upper floor of the property and 1 on the ground floor to accommodate guests with mobility difficulties. The hotel has a ground floor restaurant with covers for 77 in total which includes a seating area in the conservatory. The restaurant has been refurbished to a high standard and the conservatory seating area provides plenty of natural light and views over the Firth of Forth.

A large bright function room, which has recently been refurbishment to a very high standard, can accommodate up to 50 guests for private functions, weddings and events. We are advised that the hotel is currently hosting approx. 6 functions per week. The function room also has its own bar, cloackroom and toilet facilities and a civil licence for carrying out wedding ceremonies is currently held by the hotel.

The hotel has a lounge bar with décor designed to create a warm and welcoming ambiance. The hotel has an office and reception area at the main entrance to the property and customer WC facilities are also located on the ground floor. The hotel also benefits from a fully equipped commercial kitchen, storage areas, laundry room and refridgerated beer cellar. The two large lofts provide extensive additional storage. The extensive refurbishment carried out by our clients has enabled the business to retain many of the traditional features of the property whilst offering customers the modern comforts that today's traveller now expects.

The hotel has 3 bedrooms currently configured as 2 twin rooms and 1 double room. Each room contains all modern comforts including flat screen plasma TV's, tea and coffee making facilities and en-suite facilities. The letting rooms are presented with modern décor and are offered on a bed and breakfast basis and currently experiencing 90%-95% occupancy.

The owners' accommodation is located on the upper floor of the property and comprises of lounge area, 1 en-suite bedroom and a kitchen. In keeping with the remainder of the building, the owners accommodation has been renovated to a high standard with bright modern décor.

The vendor has advised that a 3 bedroom flat situated across the road from the hotel may also be available for sale under separate negotiation.

The front of the property is straight to street and located on a prominent corner spot on entrance to the village. The hotel has a private car park, additional overspill car park on the opposite side of the road and outdoor seating with covers for 20 in a courtyard area.

The property has mains water, drainage, gas and electricity.

The business trades with the benefit of a full license.

Our clients enjoy a very comfortable living based on current figures and turnover figures will be made available after a formal viewing has taken place.

More information from this agent

Nearest station

  • Springfield (7.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

ALTIUS GROUP LIMITED, Bruce & Co

Bruce & Co, First Floor Office, Unit 9A South Gyle Crescent, Edinburgh, EH12 9EB

0131 291 0567 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 station

  • Springfield (7.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

ALTIUS GROUP LIMITED, Bruce & Co

Bruce & Co, First Floor Office, Unit 9A South Gyle Crescent, Edinburgh, EH12 9EB

0131 291 0567 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.

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