Description
The Scot hotel is formed within a three storey building under a pitched roof. There is a conservatory extension situated to the front. In addition, there is car park accessed from a pend, running under the main building, directly from George Street. The external fabric has benefited from cladding to the front, providing a modern ambience throughout. Customer accesses are located to the front and rear.
The Opportunity
Oban is not only one of Scotland’s prime tourist destinations but is the largest town on the west coast of Scotland with the main ferry terminal to the West Coast Islands, all of which provide a high number of customers to hotels and licensed premises. This is an excellent opportunity to acquire a recently refurbished hotel within the centre of the town. The business will be ideally suited to either a hotel company or private individuals wishing to continue with the existing level of revenues and profitability. In addition, there is clear business development potential through the provision of wet and food sales to the bar/restaurant, given the premises are currently operated as a bed and breakfast.
EPC
The property has an EPC rating of G.
Viewing & Further Information
Strictly no approaches to be made to the property direct. For further information please contact CDLH on 0141 331 0650
Location
Oban is an attractive town formed around a natural and sheltered harbour, on the west coast of Scotland. The town occupies a strategic position as the main ferry terminal for the majority of the West Coast Islands.
Oban serves as the main town in the west coast of Scotland with amenities, including a hospital, schools, council offices, ferry terminal, marina and a buoyant retail centre. The town is one of Scotland’s most popular holiday and tourist destinations attracting both UK and International travellers, particularly between April and October when the population increases significantly. This, combined with regular year round traffic from those making their way between the West Coast Islands and the mainland, result in the town being highly popular for accommodation, with hotels operating at close to 100% occupancy during the main seasons.
Specifically, the Scot Hotel is situated on George Street, the main arterial route leading into the town centre. The premises, therefore, are situated within a highly prominent position within the centre of the main commercial area.
Accommodation
The premises have been fully refurbished internally. The letting bedrooms are to a boutique standard and the ground floor trading areas have a similar contemporary ambience. The accommodation is outlined below:
Ground Floor
Main Bar/Restaurant
Main bar/restaurant formed within the conservatory to the front, which thereafter opens to further seating areas. There is an attractive curved timber bar servery. There is seating for approximately 96 persons from a mix of fixed back seating, loose timber tables and timber chairs and low and high bar stools. There is an external seating area to the front, off George Street.
Customer Toilets
Ladies, accessible and gent’s customer toilets.
Reception
Situated to the rear and is open to the bar/restaurant. There is a reception desk with management offices situated to the rear.
Main Kitchen
Good sized kitchen with central cooking area and fitted commercial extraction above. Surrounding the main cooking area, are a variety of preparation/wash areas. In addition, there is a walk-in fridge situated off.
Service Areas & Car Park
Situated between the main kitchen and restaurant is a pre-serving area. Stores. Unique private parking for 12 cars to rear in the heart of the town.
Upper Floors
Letting Bedrooms
The letting bedrooms are accessed to the rear of the ground floor, off the reception area. There is a total of 24 rooms (12 on first floor and 12 on second floor).
Terms
Price
The Scot Hotel has been placed on the market at offers over £1,350,000 for the benefit of the heritable Interest and business combined.
Specification
Rateable Value
The premises have a Rateable Value of £67,000 as of 1st April 2023.
Services
We understand that the premises are connected to all mains services, including water, electricity, gas and drainage.
Premises Licence
There is a premises licence in place. The premises licence will be transferred to a purchaser.
Accounting Information
The business is achieving a high level of revenue. To year end 31st March 2023 total revenue was in the region of £675,000. The business focuses on accommodation sales with very limited income provided from the bar/restaurant. This is due to the ownership of the current proprietor, who chooses to operate the business more as a bed and breakfast. The business is achieving an excellent level of gross profit margin given that the revenue is mainly from accommodation sales in the region of 94%. Profitability is excellent. The EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) is in the region of £250,000. In addition, year to date revenue performance from 1st April to 31st July 2023 has increased by 15% when compared to the identical period last year. Full accounting information will be provided to seriously interested parties.