Isle of Bute
The attractive Isle of Bute is situated off the highly scenic west coast of Scotland. The island is easily reachable by ferry, the main crossing being from Wemyss Bay on the mainland to Rothesay. Wemyss Bay is accessible from Glasgow city centre with regular rail and bus services, together with excellent road communications.
Rothesay is the principal town on the Isle of Bute. At the centre of the town is Rothesay Castle, a ruin which dates back to the 13th century. The town is regarded as a highly popular tourist destination, particularly from residents of the west coast of Scotland. In addition, due to the location of the island, off the west coast of Scotland, the town is highly popular with sailors benefiting from the attractive sailing routes along the Western Kyles.
Specifically, the Victoria Hotel is situated within an enviable trading location in the centre of the town on Victoria Street. The hotel lies seconds walk from the main commercial retailing centre and the main ferry terminal.
There is no doubt that the subjects benefit from a first class trading location, able to draw on many income drivers.
The premises are arranged over part ground and upper floors of a traditional three storey and attic stone building under a part mansard/part pitched roof clad in slate. In addition, the premises benefit from various extensions to the rear.
There is a dedicated self-contained bar/restaurant arranged over the ground floor (Ghillie’s Bistro). The hotel reception, function suite, lounge, bar and 20 good sized en-suite letting bedrooms are arranged over the upper floors. The premises also benefit from a right of access/use over the rear grounds onto Montague Street.
This is a first class traditional Victorian building benefiting from many original architectural features including an attractive roof configuration with steeples, large bay window features and original window designs.
The accommodation is as follows:
Contemporary self-contained bar/restaurant. There is seating for approximately 30 persons and a semi-circular bar servery. Service areas to the rear of Ghillie’s Bistro include stores and ladies, gents and accessible toilets.
There is a separate access to the hotel, adjacent to Ghillie’s. This leads to a staircase and, thereafter, the main hotel accommodation over the upper floors.
With service desk and partitioned office to the rear.
Attractive function suite with full height bay window to the front. There is a main seating area with a separate bar which can be interconnected for larger functions. The bar has a fitted bar servery. There is a capacity for approximately 200 persons.
The bar is partly open to the reception and lounge/restaurant. There is seating for approximately 20 persons and a fitted bar servery.
Attractive restaurant/lounge arranged over split levels, benefiting from a full height bay window with attractive views over the Clyde estuary. Seating is provided for approximately 30 persons.
Ladies & gents customer toilets, ladies & gents customer toilets (serving function suite), fully fitted commercial kitchen, laundry room and various stores/offices.
A total of 20 letting bedrooms are arranged over the second and third floors. There are 10 letting bedrooms front facing, with attractive views over the Clyde estuary. 10 further rooms face the rear. A breakdown of the bedroom stock is provided:
The property is held on freehold tenure.
We understand the property is connected to mains water, electricity, gas and drainage. We understand that heating is from a gas fired central heating system.
There is a premises licence in place under the 2005 Licensing Act Scotland.
The subjects are entered in the valuation roll as hotel with a Rateable Value of £34,500, effective from 1st April 2017. A new occupier will have the right to appeal the rateable value.
We have been instructed to sell the Victoria Hotel by Eileen Blackburn and Linda Barr, joint Administrators of Dawnbrook Limited. Although Dawnbrook Limited is in Administration, the business continues to trade. The business has a good level of sales in the region of £590,000 p.a.
This is a first class opportunity for a purchaser to secure a going concern business, with clear potential to develop an excellent level of profitability. In addition, the premises were fully converted/refurbished around 2004 and provide quality accommodation, with only limited capital expenditure required from an incoming purchaser.
The hotel benefits from an excellent trading position within the heart of Rothesay town centre. There are many income generators to the business including tourist trade, local residents and various business contracts.
The business is currently achieving total net of VAT sales in the region of £590,000 p.a. Full accounting information can be provided to interested parties.
The Victoria Hotel has been placed on the market at offers over £295,000 for the benefit of the feudal interest and business to be sold as a going concern, inclusive of all fixtures and fittings. Any stock will be additional and paid for at the date of entry.
The property has an EPC rating of G.
For further information, please contact the Glasgow office on 0141 331 0650.
Viewing - Strictly by appointment
For an appointment to view or further information, please contact the sole agents:
t: 0141 331 0650
t: 0141 331 0650
Designed & built by Mucky Puddle