For Sale The Glenburn Hotel, Rothesay

Rothesay,
PA20 9JP

Offers Over

£1,100,000


Type

Hotels

City

Isle of Bute

Tenure

Heritable

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  • Description

    On the instructions of Stuart Robb and Chad Griffin of FRP Advisory, the Joint Administrators to the Glenburn Hotel Limited (In Administration).   

    General Location

    The Isle of Bute is within the Argyll & Bute Council area in the West of Scotland. Bute is connected to the mainland via the Rothesay to Wemyss Bay ferry link and Rhubodach to Colintraive ferry link. Whilst, therefore, an idyllic isle location, Bute is just under two hours drive from Glasgow City Centre, including the 50 minute Wemyss Bay/Rothesay ferry crossing. There is a also a very regular rail service via Glasgow Central to Wemyss Bay. The Isle of Bute has many activities to attract tourists, including Mount Stuart Castle & Gardens and beaches at Scalpsie Bay and Ettrick Bay.

    Specifically, the property is situated on the outskirts of the main town of Rothesay, with fantastic views over the Clyde Estuary down to the Kyles of Bute.

    Description

    The Glenburn Hotel is an imposing Category B listed building, dating from around 1890, originally as the “Glenburn Hydropathic” a grand seaside hotel. We understand that the hotel site area extends to approximately 6.3 acres and the site includes a managers house, a separate staff building (with three staff units) and onsite parking.

    Accommodation

    The accommodation internally is summarised as follows:

    Schedule of Accommodation





    Main Hotel
    NumberCapacity





    Ground Floor







    Reception Area


    Cocktail Bars and Lounge / Restaurant80
    Dining Room

    240
    Kitchens & Storage


    Toilets and Offices







    First Floor







    Grand Ballroom

    240
    Meeting Rooms

    80
    En suite letting bedrooms24





    Second Floor







    En suite letting bedrooms37





    Third Floor







    En suite letting bedrooms37





    Basement







    Extensive cellarage & storage






    Wymes Extension over 3 floors





    En suite letting bedrooms36





    Total en suite bedrooms 134
    Main building bedrooms 98





    External








    Managers House


    3 Staff Flats



    Services

    We understand that the premises are connected to all main services including water, gas and electricity. The hotel has a gas fired central heating system.

    Rateable Value

    The premises are entered in the valuation roll at a rateable value of £136,500 (effective from 1st April 2017). A new occupier will have the right to appeal the rateable value.

    Premises Licence

    There is a premises licence in place. The premises license will be transferred to a new owner.

    Background & Trading Profile

    The hotel was under the ownership of Shearings Hotels for many years and we understand was sold around 2016 by Shearings to the Glenburn Hotel Limited. At that time, the purchasers undertook a significant investment in refurbishing much of the letting accommodation, including new furnishings and redecoration. We have outlined below our understanding of historic sales. No guarantee or warranties whatsoever can be provided in any way in relation to the accuracy or otherwise historic financial information.

    Year Ending 31st JanuaryNet of VAT Income
    2020£1,447.176
    2019£1,442,919
    2018£1,488,855


    The Opportunity

    The Glenburn Hotel presents a fantastic opportunity to purchase an iconic building, with delightful aspects, in an island location, yet well within a relatively short drive time of Scotland’s major population centres. The property may be of interest to hoteliers wishing to continue the operation of the business as a Coaching Inn. Alternatively, there is certainly potential to retain the coaching business in the main building and redevelop the more modern extension to provide significant self-catering accommodation. The property may also be suited to comprehensive redevelopment as residential or holiday accommodation, all subject to Planning Consent.

    The property has been attractively priced to allow for refurbishment or redevelopment and will be of interest to hoteliers and developers, given the real potential of the building and its location.

    Price

    Our clients are seeking Offers Over £1,100,000 for the benefit of the Heritable property, to include all fixtures, fittings, furnishings and equipment. The price is exclusive of any VAT, which may be payable on the transaction.

    EPC

    EPC available on request

    Viewing & Further Information

    Further information including floor plans, a title plan, accounting and other relevant information is available. Please call or email the contact below for access to our dataroom to receive a full follow up pack.


    Kevin Hunter BSc MRICS

    T: 07824 395288

    E: kevin.hunter:cdlh.co.uk


    Alan Creevy BSc FRICS FCIArb

    T: 07901 001911

    E: alan.creevy@cdlh.co.uk

  • Floor Plans

    • Main Building

    • Main Building

    • Main Building

    • Main Building

    • Main Building

    • Extension

  • Dataroom

    Please log in or register to access the Dataroom section.

  • Description

    On the instructions of Stuart Robb and Chad Griffin of FRP Advisory, the Joint Administrators to the Glenburn Hotel Limited (In Administration).   

    General Location

    The Isle of Bute is within the Argyll & Bute Council area in the West of Scotland. Bute is connected to the mainland via the Rothesay to Wemyss Bay ferry link and Rhubodach to Colintraive ferry link. Whilst, therefore, an idyllic isle location, Bute is just under two hours drive from Glasgow City Centre, including the 50 minute Wemyss Bay/Rothesay ferry crossing. There is a also a very regular rail service via Glasgow Central to Wemyss Bay. The Isle of Bute has many activities to attract tourists, including Mount Stuart Castle & Gardens and beaches at Scalpsie Bay and Ettrick Bay.

    Specifically, the property is situated on the outskirts of the main town of Rothesay, with fantastic views over the Clyde Estuary down to the Kyles of Bute.

    Description

    The Glenburn Hotel is an imposing Category B listed building, dating from around 1890, originally as the “Glenburn Hydropathic” a grand seaside hotel. We understand that the hotel site area extends to approximately 6.3 acres and the site includes a managers house, a separate staff building (with three staff units) and onsite parking.

    Accommodation

    The accommodation internally is summarised as follows:

    Schedule of Accommodation





    Main Hotel
    NumberCapacity





    Ground Floor







    Reception Area


    Cocktail Bars and Lounge / Restaurant80
    Dining Room

    240
    Kitchens & Storage


    Toilets and Offices







    First Floor







    Grand Ballroom

    240
    Meeting Rooms

    80
    En suite letting bedrooms24





    Second Floor







    En suite letting bedrooms37





    Third Floor







    En suite letting bedrooms37





    Basement







    Extensive cellarage & storage






    Wymes Extension over 3 floors





    En suite letting bedrooms36





    Total en suite bedrooms 134
    Main building bedrooms 98





    External








    Managers House


    3 Staff Flats



    Services

    We understand that the premises are connected to all main services including water, gas and electricity. The hotel has a gas fired central heating system.

    Rateable Value

    The premises are entered in the valuation roll at a rateable value of £136,500 (effective from 1st April 2017). A new occupier will have the right to appeal the rateable value.

    Premises Licence

    There is a premises licence in place. The premises license will be transferred to a new owner.

    Background & Trading Profile

    The hotel was under the ownership of Shearings Hotels for many years and we understand was sold around 2016 by Shearings to the Glenburn Hotel Limited. At that time, the purchasers undertook a significant investment in refurbishing much of the letting accommodation, including new furnishings and redecoration. We have outlined below our understanding of historic sales. No guarantee or warranties whatsoever can be provided in any way in relation to the accuracy or otherwise historic financial information.

    Year Ending 31st JanuaryNet of VAT Income
    2020£1,447.176
    2019£1,442,919
    2018£1,488,855


    The Opportunity

    The Glenburn Hotel presents a fantastic opportunity to purchase an iconic building, with delightful aspects, in an island location, yet well within a relatively short drive time of Scotland’s major population centres. The property may be of interest to hoteliers wishing to continue the operation of the business as a Coaching Inn. Alternatively, there is certainly potential to retain the coaching business in the main building and redevelop the more modern extension to provide significant self-catering accommodation. The property may also be suited to comprehensive redevelopment as residential or holiday accommodation, all subject to Planning Consent.

    The property has been attractively priced to allow for refurbishment or redevelopment and will be of interest to hoteliers and developers, given the real potential of the building and its location.

    Price

    Our clients are seeking Offers Over £1,100,000 for the benefit of the Heritable property, to include all fixtures, fittings, furnishings and equipment. The price is exclusive of any VAT, which may be payable on the transaction.

    EPC

    EPC available on request

    Viewing & Further Information

    Further information including floor plans, a title plan, accounting and other relevant information is available. Please call or email the contact below for access to our dataroom to receive a full follow up pack.


    Kevin Hunter BSc MRICS

    T: 07824 395288

    E: kevin.hunter:cdlh.co.uk


    Alan Creevy BSc FRICS FCIArb

    T: 07901 001911

    E: alan.creevy@cdlh.co.uk

  • Floor Plans
    • Main Building

    • Main Building

    • Main Building

    • Main Building

    • Main Building

    • Extension

  • Dataroom

    Please log in or register to access the Dataroom section.


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