- Fantastic opportunity to purchase thriving self-catering business in the heart of Inverness
- Highly profitable lifestyle business with opportunity to expand
- Attractively priced business to interest the right purchaser
- Leasehold of one profitable premises with option to purchase a second after 1 year
- Generous rent-free period of 6 month included
DESCRIPTION
This represents a fantastic opportunity for anyone looking for a highly profitable business opportunity in Inverness. The business is run to an exceptionally high standard and the systems and controls in place make it ideal to take over at any time in the season. Currently one property is being made available for leasehold purchase. This property has been run as a self-catering apartment for several years and has a very strong trading history. The option to purchase the interest in at least one other leasehold property will be available after one year of trading.
The property is finished to an exceptionally high standard and the quality of the finish can only be fully appreciated by viewing. The current owners continue to invest ensuring that all their properties are all maintained to a high standard resulting in the attractive business proposition on offer.
REASON FOR SALE
It is the owner’s desire to reduce their ongoing business interests that brings this excellent opportunity to the market. The property on offer represents part of their current business portfolio and there may be the option in the future to purchase the interest in further properties.
SERVICES
Each property benefits from mains electricity, double glazing, drainage and water. Each property has gas central heating which can be remotely controlled. Each property has internet access and Wi-Fi.
ACCOUNTS
Details of trading figures will be provided to serious interested parties subsequent to viewing.
PRICE
Offers over £22,500 are invited for the business complete with goodwill, intellectual property and trade contents (according to inventory) of a single property business, excluding personal items. The second property is offered (with ingoing premium to be agreed at the time) at the Sellers’ discretion. The price has been deliberately set at a very attractive level. The owner has separately placed another 2 local self-catering properties on the market under the same general terms. Details area available from ASG Commercial.
EPC RATING
The EPC rating of each of the properties is as follows:
5b Springfield Gardens “The Smiddy” – has a rating of D64, dated 2023
5 Riverside Gardens - has an EPC rating of C79, dated 2016
FINANCE & LEGAL SERVICES
ASG Commercial is in touch with several lenders who provide specialist finance to the hospitality trade. We will be delighted to discuss your financing requirements with you and make an appropriate introduction. We have access to a large team of legal experts who can act in all legal matters arising.
DIRECTIONS
This attractive self-catering business is located in Inverness. What3words locations are as follows:
5b Springfield Gardens “The Smiddy” - ///polite.lots.orange
5 Riverside Gardens - ///goods.actor.charm
Location
Inverness is the commercial and administrative centre for the Highlands of Scotland. It is a vibrant city with a population in the region of 50,000 and a geographical shopping catchment area spanning 10,000 square miles, with a potential catchment population of around 200,000. Within the holiday season, the city attracts many thousands of visitors who come to experience the Highlands in all its glory. Inverness has extensive facilities for residents and visitors boasting three golf courses, a theatre (Eden Court), an excellent indoor swimming complex, two cinemas, ten pin bowling and ample opportunity to enjoy an evening’s entertainment at a range of venues. Inverness is a busy tourist destination with its population vastly increasing during the main tourist season. Whether it is a whisky trail, a boat trip on Loch Ness or a visit to one of the many accessible Scottish castles, the properties are ideally situated to catch the eye of the many tourists who choose to visit. Inverness is a vibrant and growing City and with such expansion comes many opportunities in both commerce and social activities.
Accommodation
THE PROPERTY
The lease of the property is offered immediately with a further property becoming available (estimated mid 2025 due to current commitments):
5B Springfield Gardens “The Smiddy”
This property is of traditional build and consists of a lounge, kitchen, 2 double bedrooms (one with a double bed & the other has a small double bed). Accessed from the rear of the property is from a private courtyard garden, which includes a drying and seating area. There is also free designated parking.
Potentially available from mid 2025: 5 Riverside Gardens
This property is of modern construction and located close to the River Ness. It consists of lounge, kitchen, 2 double bedrooms (one with super king-sized bed and the other with 2 single beds). Guests benefit from a bathroom and ensuite shower room. There is also free designated parking.
Terms
LEASEHOLD TERMS
The lease of properties to be agreed between parties. It is anticipated that a full repairing lease with lease terms of 5-10 years will be offered. In principle, the Seller is willing to offer the first 6 months rent free.. Outline heads of terms will be provided to serious interested parties.
TRADE
Grant Luxury Properties, Inverness has a unique trading identity with a highly attractive website (www.grant-inverness.co.uk) which can take bookings. This is supplemented by marketing on popular portal websites such as Booking.com. The Booking.com reviews are strong at an average of 9/10. The business operates with a flexible 3 night minimum stay. The owners currently restrict the rental of these properties to fit their lifestyle choice. Inverness benefits from a strong commercial infrastructure growth and as such, during the off-season November to March excellent opportunities arise via visiting contractors. These bookings regularly result on Monday to Thursday leaving weekends available for visiting tourists. As a result, there is the opportunity to significantly increase turnover and profit levels, should that be desired.
The owners have confirmed that they will assist in the training of the purchaser and ensure that they are fully abreast of the systems that are in place.
Specification
RATES
The rateable value of property is as follows:
5b Springfield Gardens “The Smiddy” - £2,600 as of 1st April 2023
5 Riverside Gardens – £2,600 as of 1st April 2023
The new owners of the business could benefit from 100% discount under the Small Business Rates Relief scheme, where eligible.