Hotel and public bar in Montrose for sale via Shepherd Commercial Auctions with £265K guide price
Shepherd Commercial Auctions is offering a unique opportunity to acquire a large well-established hotel and public bar in Montrose with good operating income and net profit levels at an online timed auction for a bargain guide price of £265,000.
Located on New Wynd just metres from the High Street junction in the centre of the town, the Star Hotel is a large 15 bedroomed hotel with two public bars contained within a traditionally built terraced property dating back to 1765.
The main public bar is on the ground floor and accessed via a covered car parking area off New Wynd. The bar is of traditional style with wooden flooring and furnishings throughout. A ‘Dance Bar’ is located to the rear and includes a DJ booth and dance floor. The hotel is accessed separately but linked and arranged over the upper floors.
The first floor comprises a well-equipped kitchen and breakfast dining room, office and storage room, function suite with lounge area and separate bar with stage covering a total capacity of 170.
Eight en-suite letting bedrooms are on the second floor, three newly refurbished with walk in showers and a well-appointed self-contained owner flat comprising lounge, fitted kitchen and en-suite bedroom. On the third floor there are a further seven superior en-suite bedrooms and laundry room.
Gavin Russell, surveyor in Shepherd’s Dundee office said: “Our clients are selling due to a well-earned retirement, having operated the business since 2010. While the public bar is very popular locally, there is excellent scope to further improve turnover and profit levels through the introduction of evening meals and use of the first-floor function suites as potential restaurant space.
“The hotel and pub are trading well and producing good turnover and profits and as such, it represents an excellent investment or business opportunity.”
For sale by unconditional online auction running till 20th December, interested parties will be required to register at www.shepherd.co.uk/commercial-auctions prior to bidding. A guide price of £265,000 is sought.
ENDS
For further information please contact Gavin Russell on tel 01382 878005