The Glenburn Hotel, Bute - SOLD
Rothesay,
PA20 9JP
Offers Over
£1,100,000
Type
Hotels
City
Isle of Bute
Tenure
Heritable
Request an Appointment
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Description
Closing Date - The Glenburn Hotel, Isle Of Bute, 29th October 2021
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 AccommodationMain Hotel Number Capacity Ground Floor Reception Area Cocktail Bars and Lounge / Restaurant 80 Dining Room 240 Kitchens & Storage Toilets and Offices First Floor Grand Ballroom 240 Meeting Rooms 80 En suite letting bedrooms 24 Second Floor En suite letting bedrooms 37 Third Floor En suite letting bedrooms 37 Basement Extensive cellarage & storage Wymes Extension over 3 floors En suite letting bedrooms 36 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 January Net 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.
Alan Creevy BSc FRICS FCIArb
T: 07901 001911
E: alan.creevy@cdlh.co.uk
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Floor Plans
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Main Building
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Main Building
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Main Building
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Main Building
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Main Building
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Extension
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Dataroom
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Description
Closing Date - The Glenburn Hotel, Isle Of Bute, 29th October 2021
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 AccommodationMain Hotel Number Capacity Ground Floor Reception Area Cocktail Bars and Lounge / Restaurant 80 Dining Room 240 Kitchens & Storage Toilets and Offices First Floor Grand Ballroom 240 Meeting Rooms 80 En suite letting bedrooms 24 Second Floor En suite letting bedrooms 37 Third Floor En suite letting bedrooms 37 Basement Extensive cellarage & storage Wymes Extension over 3 floors En suite letting bedrooms 36 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 January Net 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.
Alan Creevy BSc FRICS FCIArb
T: 07901 001911
E: alan.creevy@cdlh.co.uk
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Floor Plans
-
Main Building
-
Main Building
-
Main Building
-
Main Building
-
Main Building
-
Extension
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- Dataroom
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