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Lot 26

25-26 Crown Hotel, Castle Douglas, DG7 1AA

Guide Price: £195,000

Vacant Freehold Commercial Offer Now Available


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Key Features:

MASSIVE HOTEL with public bar, lounge bar, restaurant and 11 en-suite letting rooms + additional 3 bedroom owner's accommodation building. Previously let £24k. Potential of £40,000 PA


  • Sure to appeal to investors looking for a Potentially High yielding Investment. Potential for £40,000 Per annum. this would provide a yield of Greater than 15% if achieved at Guide.
  • The Crown Hotel is a mid-terrace 2 story plus attic and basement, stone construction under a slated roof with dormer windows and rear stone extensions. The property is included in the 2017 valuation roll as having a rateable value of £23,050. PRIME TOWN CENTRE LOCATION with excellent current return.
  • Castle Douglas is a town of around 4,200 persons approximately 18 miles south west from Dumfries in rural Dumfries and Galloway and benefits from an expanding tourist industry, tourists being attracted into the area because of the easy access to the Solway Coast and the Galloway hills.
  • NEW ENTRY - SUPERB POTENTIAL IN TOWN CENTRE. IDEAL HOTEL INVESTMENT. POTENTIAL For Residential development (subject to researching and gaining necessary consents)


Ownership

Freehold

- Outright ownership of the property and land on which it stands.
Occupation

Vacant

- Full vacant possession offered at time of completion.
Rateable Value

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Full Details:

MASSIVE HOTEL with public bar, lounge bar, restaurant and 11 en-suite letting rooms + additional 3 bedroom owner's accommodation building. Previously let £24k. Potential of £40,000 PA. The Crown Hotel is a mid-terrace 2 story plus attic and basement, stone construction under a slated roof with dormer windows and rear stone extensions. The property is included in the 2017 valuation roll as having a rateable value of £23,050. PRIME TOWN CENTRE LOCATION with excellent current return. Previously sold for £550,000. Sure to appeal to investors looking for a Potentially High yielding Investment. Potential for £40,000 Per annum. this would provide a yield of Greater than 15% if achieved at Guide. NEW ENTRY - SUPERB POTENTIAL IN TOWN CENTRE. IDEAL HOTEL INVESTMENT. POTENTIAL For Residential development (subject to researching and gaining necessary consents)

Guide Price: £195,000 - Offer Now


What is a Guide Price...

Auction Guide Prices are displayed as an indication of each seller's approximate sale expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Unless specified all properties are subject to a Reserve (minimum acceptable price) which we expect will be set no more than 10% above or below the advertised guide.

Offer Now Explained...

You may submit an offer now on this property for the owner to consider. If they are will are willing to sell you the property now then it is a matter of making the required deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

Map & Location:


Castle Douglas is a town of around 4,200 persons approximately 18 miles south west from Dumfries in rural Dumfries and Galloway and benefits from an expanding tourist industry, tourists being attracted into the area because of the easy access to the Solway Coast and the Galloway hills. It lies west of the town of Dalbeattie (6 miles) and east of Gatehouse of Fleet (14 miles). The hotel is situated at the corner of King Street and St Andrew Street opposite the clock tower in a secondary trading location in Castle Douglas town centre.

Viewings:


Internal Open Viewings...


This property may be open for internal viewings at specified times which will be listed on this page when available. You do not need to register to attend these viewings, you can simply turn up as the property will be open during the scheduled times. Our viewing agent will be present to answer any of your questions and provide auction catalogues to viewers.

External Viewings Anytime...


You may view this property externally at any time. Please make sure that if the property is occupied or tenanted that you respect the privacy of the occupants. Additionally we advise that you print a copy of this schedule and take it with you in case of any neighbours questioning you at the property as to your intentions.

Auction Details:



  • Auction Date...

    04 February 2020


  • Start Time...

    7.00pm


  • Auction Location...

  • Glasgow Radisson

  • 301 Argyle Street, G2 8DL


View Map & Directions to the GLASGOW RADISSON >>


Registration...

You will need to be at the auction prior to the 7.00pm start time in order to register & make your way to the auction room. Bidding registration opens from 6:00pm. You will be required to present Photo ID and provide your contact and solicitor details in order to register.

Legal Packs...

All legal packs will be available for inspection at our offices on the day of the auction and at the auction hall from 6:00pm.

Deposits...

If you are a successful purchaser of a lot then a deposit of 10% (minimum £3,000 or lower if specified) will be required. The deposit is accepted by the following methods:

Deposit Method...

Switch, Debit Card, Credit Card, Cash or Bankers Draft accepted only. Next Day Bank Transfer by prior arrangement only.

How To Bid:


Offer Now...

You may submit an offer now on any of our live properties for the sellers to consider. If they are will are willing to sell you the property now then it is a matter of making the 10% deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

Bid Live in Person...

Easily the best method is to attend the auction in person. The Glasgow Radisson is conveniently located in the Glasgow City Centre, a short walk from the Central Train Station and easily accessed from the M8 Motorway. The Edinburgh Marriott Hotel is conveniently located just minutes from Edinburgh Airport and the city centre.

Bid by Phone Live...

If you cant make the auction in person you can still make a live bid by telephone for this property. You will give instruction live over the phone with one of our staff in the room who will bid on your behalf and relay activity in the auction room. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...
Proxy & Phone bidders phone... Download the Telephone Bidders Form

Bid by Proxy... (Ebay Style Highest Bid)

This is another option if you cannot make the auction in person. A Proxy bid is where you will leave your highest maximum bid for the property and the auctioneer will bid on your behalf. You will only ever bid one increment higher than the previous bidder. Proxy bidding rules out any potential issues with telephone reception or nerves regarding bidding in person or by telephone. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...

Proxy & Phone bidders phone... Download the Proxy Bidders Form