Commercial Property for sale

2 East Claremont Street - EH7

£999,995

Property Description

Commercial information

  • Business for sale

Key features

  • 7 en suite letting rooms
  • 3 floor Georgian Terrace Property
  • Enviable location, Off street parking
  • Established 20+ years, EBITDA in excess of £61,000

Full description

Tenure: Freehold

Description
Mingalar Guest House is an extremely well run business that has been run by the current proprietors since 1995. The property has been placed on the market due to the current proprietor’s impending wish to retire from the licence trade. The business trades throughout the year and its quality is reflected in the number of awards it currently holds such as achieving 4.5 out 5 on trip advisor and being one of the best Guest Houses in the area. Additional marketing is carried out through its own informative website www.mingalar.eu

It enjoys much repeat custom, particularly due to its excellent location and reputation

Mingalar Guest House offers excellent accommodation for both guests and owners.

Situation
Mingalar occupies an enviable location on East Claremont Street in the centre of Edinburgh. The property is well situated within walking distance of Leith Walk and Princes Street.

Building Internal
The property is a traditionally built Georgian Terraced townhouse set over three levels. The building itself has been well maintained by the current vendor. It is presented to a very high standard and is now offered at walk in condition. The main entry is from the front that leads into the reception hallway, which in turn gives access to all accommodation, public and private areas.

On entering from the front, you are immediately welcomed into a traditional reception hallway with stairway leading to all areas private and public.

On the garden level you will find the guest breakfast room. The breakfast room, is well presented with laminate flooring, and benefits from access via French doors to the rear garden area. Located off the dining room, there is a small kitchenette, with larder and preparation area for cooking of guests’ breakfast. Adjacent to the breakfast room is an office. Also located on the garden level are two en suite double letting bedrooms, laundry and linen room which has a shower.

On the ground floor of the property you will find letting rooms 5, 6 and 7 along with a WC. Room 8 could be used for staff or as a small sittign room.

The 1st floor is accessed from a period feature staircase off the reception hallway. On the 1st floor you will find letting rooms 1,2 and 4. In addition there is a small guest kitchenette.



Letting Accommodation
There are 8 letting bedrooms, all which have en-suite facilities, the letting rooms are set over the three floors of the property and comprise of the following;

? Garden Level
? Rooms 9 and 10- Double En-Suite rooms
? Ground Floor
? Room 5- family room with double and single bed
? Room 6- Superior Double
? Room 7- Double
? 1st Floor
? Rooms 1 & 2- Family room with double and two single beds
? Room 4- Double

All of the letting rooms are presented to a good modern standard and benefit from TVs with free view, hospitality trays and fridges.


Owners Accommodation
Owners Accommodation
The current vendor does not live in the property and as such utilizes all of the rooms as letting accommodation.


Service Areas
As expected with a property the style and size of Mingalar, there are ample service areas, a fully fitted kitchen, and excellent storage facilities, including outhouse to the rear of the property within the courtyard area.

Building External
The front of the property sits straight to street. To the rear you will find a garden area, which is laid to hard standing and mature borders. To the rear of the gardens there is off street parking for two cars.


Services
We are advised the property has all mains services

Tenure
The property is held on the Scottish equivalent of Freehold.


Legal
The business trades with the benefit of a full Licence, and conforms to all fire regulations.

Trading Figures
Accounts are available on request after a formal viewing has taken place.


Summary
The sale of Mingalar Guest House offers a rare opportunity to purchase a high quality, beautifully presented Edinburgh property which is trading well but with potential for expansion of the business.

Price
Offers over £999,995 are sought for the heritable property, fixtures, fittings and goodwill. Stock in trade will be additional at valuation.

Inventory
An inventory will be compiled to detail all items of a personal nature excluded from the sale and items subject to lease; this will be available to all parties wishing to offer.

Viewing
Strictly by appointment through the sellers’ sole agents, Bruce & Company. Please remember when viewing that staff and locals may not be aware that the business is on the market and we would be grateful if you do not talk openly about the business while in the area.

Offers
All offers, couched in Scottish Legal Terms, should be submitted to the seller’s sole agents Bruce & Company.

Further Information
Should you require further information on this or any other property, please do not hesitate to contact us on 0131 314 0660.

Nearest stations

  • Edinburgh Waverley (0.6 mi)
  • Edinburgh (0.7 mi)
  • Haymarket (1.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

ALTIUS GROUP LIMITED, 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 stations

  • Edinburgh Waverley (0.6 mi)
  • Edinburgh (0.7 mi)
  • Haymarket (1.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

ALTIUS GROUP LIMITED, 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.

Disclaimer - Property reference 44673. 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 ALTIUS GROUP LIMITED, Bruce & Co. 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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