Tenanted Commercial Property LOT 238

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

Deadline for Offers

09 December 2021, 3pm

Bidding Closes in

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  • TypeCommercial
  • Ownership Freehold
  • Occupation Tenanted
  • Rateable Value Search SAA

Description

Full Address: 25-26 Crown Hotel, Castle Douglas, DG7 1AA

MASSIVE HOTEL with public bar, lounge bar, restaurant and 11 en-suite letting rooms + additional 3 bedroom owner's accommodation building. Previously let at 24k per annum reduced to 19,000. NEW 10 year lease as per November 2020

Sure to appeal to investors looking for a Excellent yield on investment within extremely popular town for holiday makers in the South of Scotland. Potential for 40,000 Per annum in future

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)

***PREVIOUSLY SOLD FOR 550,000*** Ten year FRI lease commenced on 17 November 2020 rising from 19,000 per annum.to 22,000 per annum in August 2023 and to 25,000 per annum for the last five years of the term. Director's personal guarantee. MASSIVE HOTEL with public bar, lounge bar, restaurant and 11 en-suite letting rooms + additional 3 bedroom owner's accommodation building. let at 24k per annum (reduced to 19,000). Potential of 40,000 PA. Personal guarantee. Sure to appeal to investors looking for a Excellent yield on investment within extremely popular town for holiday makers in the South of Scotland. Potential for 40,000 Per annum in future. 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)

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.

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 10 Years from 17/5/2019
Rent: 19,000 per year / 1,583 per month
Yield: 9% (approx)
Tenant: Private Individual
Notes:

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Location

Pricing Information & Bidding

Guide Price: £200,100


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 prior to the auction.

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Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 2.5% of Sale Price (Minimum £2,500 + vat)

* STANDARD TERMS are 4 week completion with 1 week extension. Sellers can request a varied completion and buyers must satisfy themselves prior to bidding.

Auction Details

Date & Time: 09 December 2021, 3pm
Type: Deadline for Offers

View Full Auction Catalogue

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