£220,000 Guide price

New Wynd, Montrose, Angus, DD10 8RB

16 bedroom end-terraced house for sale

Property Details

15 En-suite bedroom hotel

New to auction is The Star Hotel, a well-established 15 bedroom hotel, enjoying prime central location within Montrose, Angus. A former coaching inn, dating back to c. 1765, The Star Inn extends to approximately 1090 sq. metres (11,700 sq. feet) over four levels and basement with cellar. The ground floor offers a traditional front bar area, leading through to a back bar with pool table, dart boards and DJ booth. Also on the ground floor is a sizeable storage room, back bar storage and male/female WCs and office. On the first floor are two function suites, “Rock Bar” and lounge area, breakfast/dining room and kitchen. The second and third floors accommodate the fifteen letting rooms (all en-suite) comprising 10 Deluxe Bedrooms (two family, three twin, and five double), and five economy bedrooms (four twin and one double). Also on the second floor is the owner’s accommodation (lounge, fitted kitchen and one en-suite bedroom). The owners have operated the business since 2010 and have created a strong trading business with continually high room occupancy levels throughout the year, (return on capital investment of 2.9 based on last years accounts) largely driven by contractor business related to the Seagreen Offshore Wind Farm Project, GlaxoSmithKline employee training delegates, as well as golfing/football parties. The town also hosts a May Music Festival, producing even stronger accommodation demand. The current owners offer bed and breakfast accommodation only, but there is a great opportunity to further increase revenue through adding additional rooms on the second floor or reintroduce functions and concerts as well as extended restaurant/pub food service through reformat of the first floor areas. Currently published Rateable Value is £27,100. The attractively positioned Guide Price, allied with a strong ongoing trading performance, makes this property perfect as an owner operated business, and could also represent an excellent addition to an existing commercial/hotel portfolio. Early viewing is recommended to fully appreciate the outstanding value on offer. The owners are willing to make recent accounts available to seriously interested parties. They have enjoyed running such a thriving business and are sorry to see it go but are looking to sell due to early retirement.

Area

The town of Montrose sits on the Angus coast, approximately 30 miles north east of Dundee, and 40 miles south of Aberdeen. The local area attracts many thriving business sectors including a busy commercial port for agriculture, oil and gas industries, GlaxoSmithKline is a major employer in the area, with further expansion driven by the recently commissioned Seagreen Offshore Wind Farm Project. Facilities in the town include a mainline railway station, hospital, medical centre and supermarkets. There are junior and senior schools approximately half a mile from the property. Over the years Montrose has become popular with commuters to Aberdeen with access via the A90 or A92. For those seeking leisure pursuits, Montrose is well placed for several golf courses including two in the town. There is a sailing club at Montrose basin where there is also a wildlife centre. There are two leisure centres in the town and an indoor swimming pool. Lovely beaches and walks can be found at Lunan and St. Cyrus and the Angus Glens are approximately 20 miles distant



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Property History

  • Property added on 29 August 2022
  • New price Guide price £220,000 as of 12 December 2022
    Was: Guide price £230,000
  • New price Guide price £230,000 as of 12 October 2022
    Was: Guide price £250,000
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