Hotel for sale

7 New Wynd - DD10

£639,995

Property Description

Commercial information

  • Business for sale

Key features

  • 15 En-suite letting rooms, Excellent owners’ accommodation
  • Enviable location within the town
  • Profit Potential by introducing meals
  • Superb business, Highly profitable

Full description

Tenure: Freehold

Description
The Star Hotel is a former coaching Inn that dates back to the early 1760s. The business has been owned by the current vendors since 2010 and has under gone extensive refurbishment in the bar and many of the rooms. The business has been operated by the vendor and now offers an excellent investment opportunity or as a family ran business. The property has been placed on the market due to the current proprietor’s impending wish to retire from the Tourist trade. The business trades throughout the year and its quality is reflected in the number of awards it currently holds such as achieving 4 out 5 on Google. Additional marketing is carried out through its own informative website www.starhotelmontrose.com
The Star Hotel offers excellent accommodation for both guests and owners.


Situation
Montrose is a coastal resort town and former royal burgh in Angus, Scotland. It is situated 38 miles north of Dundee between the mouths of the North and South Esk rivers. With a population of approximately 12,000, the town functions as a port but the major employer is GlaxoSmithKline, Montrose is a centre for international trade. It is an important commercial port for the oil and gas industry.
The Star Hotel occupies a commanding position, just off the high street in the centre of the Town.


Building Internal
The Star Hotel is a traditionally built terraced property dating back to 1765. The property is a former coaching inn and has operated as a hotel since the mid-18th century. The main entrance is from the front of New Wynd. The property benefits from a separate hotel and public bar entrance. The public bar entrance gives access from a covered car parking area. On entering you are welcomed into a spacious and well presented public bar. The bar is located to the left on entry and is of traditional construction with a well-stocked gantry to the rear. The bar benefits from a newly installed wooden floor throughout and is furnished with wooden tables and chairs together with several upholstered bar stools. To the top of the bar you will find the ‘Disco bar’. This area is accessed from the main public bar benefiting from a DJ booth and dance floor to the top of the room. The Disco bar further benefits from its own satellite bar, which is accessible from the main bar for ease of service.

The separate hotel entrance is again from the covered parking area and gives access into a reception hallway, which in turn leads to all guest areas and letting bedrooms. To the left on entry there is an additional room, which is currently under refurbishment to be converted into a designated hotel reception.

On the first floor of the property you will find the breakfast dining room, together with two function suites. The breakfast room is furnished with wooden tables and chairs. The first of the function suites, the ‘Tudor Room’, benefits from having its own bar and can accommodate 50 persons. The Tudor room would make an ideal restaurant area and is currently under utilised by the current vendor through personal choice. The Hotel currently does not provide meals, this is would be a great opportunity for any prospective buyer to add to the already impressive profit. The second function area, the ‘Rock Bar’, offers capacity for 120 persons and is also linked to the Tudor room via dou

Letting Accommodation
There are 15 letting bedrooms, all which have en-suite facilities. The rooms are set over the 2nd and 3rd floors. On the 2nd floor you will find 8 ‘economy’ en-suite rooms, these rooms have not been refurbished and comprise of 1 double room, 6 twin rooms and 1 triple room. These rooms are fully furnished. On the 3rd floor, you will find the 7 ‘superior’ rooms. These rooms have all had new en-suites and have been fully refurbished to a high standard. The rooms comprise of 4 doubles, 1 twin and 2 family room. All the rooms are well presented and furnished. All rooms have hospitality trays and TVs.

Owners Accommodation
The owner’s accommodation is a self-contained one bedroom flat, located off the hallway on the 2nd floor of the property. The flat comprises master en-suite bedroom with walk in wardrobe together with an open plan dining kitchen area and sitting area. The flat has been fully refurbished, benefiting from a fully fitted kitchen.

Service Areas
As expected with a property the style and size of the Star Hotel, there are ample service areas, including; a commercial kitchen, storage room, dish wash area, laundry, spirit store, office and cellar. The property also has excellent housekeeping storage on the upper floors.

Building External
The property sits well on New Wynd in the centre of the town. There is ample on street parking.

Services
We are advised the property has all mains services.


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

Licence
The business trades with the benefit of a full Hotel 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 The Star Hotel offers a rare opportunity to purchase a high quality, beautifully presented property and business, which is trading well but with potential for expansion of the business.

Price
OIRO £679,950 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 station

  • Montrose (0.2 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 station

  • Montrose (0.2 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 45104. 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.

Map data OpenStreetMap contributors.