Graham and Sibbald are proud to bring to market the Royal George Hotel for sale. This stunning 46 bedroom hotel was constructed in the mid-19th Century although its origins as a licensed hostelry dates back some 245 years. The hotel has a spectacular position adjacent to the River Tay and located within the heart of Perth, one of Scotland's more affluent cities. Perth is a vibrant and affluent city which benefits from its position as the crossroads to the Highlands and has an excellent catchment area. The attraction for tourists, visitors, or locals looking for a day out is easily achieved with so much to offer such as the nearby cinema, theatre, art galleries, museum and amazing entertainment venues that draw world-class performers.
The business is that of a City Centre hotel offering accommodation, conference, restaurant and bar facilities to an excellent cross-section of local, corporate and leisure business. The hotel is a well rounded business with a good strong, diverse income stream and is a well-used meeting point for locals as well as national and international firms.
A 46 bedroom hotel for sale in a spectacular location on the banks of the River Tay, in Perth City Centre
( Agency Pilot Software ref: 50711 )
Location
The Royal George Hotel was constructed in the mid-19th Century although its origins as a licensed hostelry dates back some 245 years. The hotel has a spectacular position adjacent to the River Tay and located within the heart of Perth, one of Scotland’s more affluent cities. Perth is a vibrant and affluent city which benefits from its position as the crossroads to the Highlands and has an excellent catchment area. The Tay City deal was signed in December 2020 bringing £700m of investment to the area. Since then Perth has gone from strength to strength using the Fund to expand Perth by the Invest in Perth Board.
This has included a commitment to spend money on infrastructure and further establish Perth as an excellent place to live and work. One of the major projects was a £15million spend on the redevelopment of Perth’s bus and railway stations, £24m on restoring and reposition the Town Hall and a recent £31million investment by Lalique into the Glen Turret Distillery. The Town Hall development will bring the Stone of Destiny back to Perth, after the coronation of King Charles, which is expected is to bring an additional 280,000 visitors to the city by the end of 2024.
Accommodation
Reception lounge area, central in hotel, with reception counter and office behind
• Sun Lounge at main entrance – overlooking River Tay
• Conservatory Restaurant – overlooking River Tay
• Lounge Bar, adjacent to Lounge, with access leading to
• McGregor Lounge (40)
• Main Hotel Restaurant (120) – off conservatory, with River Tay outlook
• The Ballroom (150) – off hallway; vaulted ceiling; bar servery; dance floor
• 3 Meeting/Private Dining Rooms – Morning Room (30); Board Room (20); DY Cameron Studio (8) At Lower Ground / Garden Level
• The Old Library (20)
• Resident’s Gym and Games Room
• Gin Distillery & Tasting Room (Leased to Perth Distillery Co) 46 Letting Bedrooms to sleep 84
• 1 x Suite
• 6 x Mini Suites
• 10 x Double
• 21 x Twin (Zip & Link)
• 8 x Single All ensuite – 30 bath with shower over; 12 shower only; 4 bath with separate shower. Bedrooms are located at garden, 1st & 2nd floor levels. Service Areas
• Commercial Kitchen
• Chef’s Office
• Walk-In Refrigeration
• Ancillary Service Storage Areas at basement leve
Terms
PRICE Offers over £2,500,000 are invited for the heritable (freehold) interest in the property, the trade fixtures, fittings and equipment, together with the goodwill of the business, which is to be sold complete as a going concern. Stock in trade to be purchased at an additional price at valuation on the date of entry.
SERVICES Mains water, electricity, gas and drainage are all connected to the property. The plant room includes 2 CHP units producing up to 26kw of electricity as well as 4 wall mounted gas boilers producing domestic hot water for the hotel. We understand the vendors carried out a full IT upgrade in February 2021 which included tills, computers, handheld devices and guest line res links cloud based software PMS.
ENERGY PERFORMANCE CERTIFICATE Royal George Hotel – EPC Rating G The Energy Performance Certificate is available on request.
RATEABLE VALUE Royal George Hotel – Current Rateable Value is £121,250 (1st April 2017): Draft Rateable Value £108,750 (1st April 2023)
TENURE Heritable (Freehold) / Outright Ownership
Specification
• Fabulous Historic 46-Bedroom City Hotel overlooking the River Tay
• Excellent city centre location; close to all major attractions & concert venue
• Full range of bar, restaurant, function, meeting room facilities
• Perth Gin Distillery located in the Hotel with adjacent “Gin Garden”
• Located within 2-minute walk of forthcoming Perth Museum, home to The Stone of Destiny
• Established Business with T/O on target to exceed £1.55m (net); Excellent Profits