DESCRIPTION
This represents a fantastic opportunity for anyone looking for a highly profitable business opportunity in Inverness. The business is run to an exceptionally high standard and the systems and controls in place make it ideal to take over at any time in the season. Currently 2 separate properties are being made available for leasehold purchase. These properties have been run as self-catering apartments for several years and have a very strong trading history.
The properties are finished to an exceptionally high standard and the quality of the finish can only be fully appreciated by viewing. The current owners continue to invest ensuring that the properties are maintained to a high standard resulting in the attractive business proposition on offer.
Where appropriate, the vendor will consider splitting the business so the interest in each property can be purchased separately.
REASON FOR SALE
It is the owner’s desire to reduce their ongoing business interests that brings this excellent opportunity to the market. The properties on offer represent part of their current business portfolio and there may be the option in the future to purchase the interest in further properties.
TRADE
Grant Luxury Properties, Inverness has a unique trading identity with a highly attractive website (www.grant-inverness.co.uk) which can take bookings. This is supplemented by marketing on popular portal websites such as Booking.com. The Booking.com reviews are strong ranging from 9.08.9 to 9.4 across the four properties. The business operates with a flexible night minimum stay. The owners currently restrict the rental of these properties to fit their lifestyle choice. Inverness benefits from a strong commercial infrastructure growth and as such during the off-season November to March excellent opportunities arise via visiting contractors. These bookings regularly result in Monday to Thursday leaving weekends available for visiting tourists. As a result, there is the opportunity to significantly increase turnover and profit levels, should that be desired.
The owners have confirmed that they will assist in the training of the purchaser and ensure that they are fully abreast of the systems that are in place. A separate, fully functional website, will be set up prior to sale containing the subject properties.
THE PROPERTIES
The lease of the following two properties are offered immediately with the potential to have further opportunities in the future:
32 Riverside Gardens
This property is of modern construction and located close to the River Ness. It consists of lounge, kitchen, 2 double bedrooms (one with king-sized bed and the other with 2 single beds). There is also an option to have a single sofa bed set up in the lounge. Guests benefit from a bathroom and ensuite shower room. There is also free designated parking.
2 Wellingtonia Court
This property is of modern construction and located close to the River Ness. It consists of a kitchen / lounge area, bathroom with shower and double bedroom. There is also an option to have a single sofa bed made up in the bedroom. The entrance to the property is from a private garden, which includes a drying area. There is also free designated parking.
SERVICES
Each property benefits from mains electricity, double glazing, drainage and water. Each property has gas central heating which can be remotely controlled. Each property has internet access and Wi-Fi.
ACCOUNTS
Details of trading figures will be provided to serious interested parties subsequent to viewing.
LEASEHOLD TERMS
The lease of properties to be agreed between parties. It is anticipated that a full repairing lease with lease terms of 5-10 years will be offered. In principle, the Seller is willing to offer the first 6 months rent free. Outline heads of terms will be provided to serious interested parties.
PRICE
Offers over £45,000 are invited for the business complete with goodwill, intellectual property and trade contents (according to inventory) of a 2 property business, excluding personal items. The owner has separately placed another 2 local self-catering properties on the market under the same general terms. Where appropriate, the vendor will consider splitting the business so the interest in each property can be purchased separately. Details are available from ASG Commercial.
EPC RATING
The EPC rating of each of the properties is as follows:
32 Riverside Gardens – has an EPC rating of C81, dated 2016
2 Wellingtonia Court – has an EPC rating of C74, dated 2016
RATES
The rateable value of each of the properties is as follows:
32 Riverside Gardens – £2,600 as of 1st April 2023
2 Wellingtonia Court – £1,100 as of 1st April 2023
The new owners of the business could benefit from 100% discount under the Small Business Rates Relief scheme, where eligible.
FINANCE & LEGAL SERVICES
ASG Commercial is in touch with several lenders who provide specialist finance to the hospitality trade. We will be delighted to discuss your financing requirements with you and make an appropriate introduction. We have access to a large team of legal experts who can act in all legal matters arising.
DIRECTIONS
This attractive self-catering business is located in Inverness. What3words locations are as follows:
32 Riverside Gardens – ///exact.metro.those
2 Wellingtonia Court – ///lunch.dive.divide
VIEWING
All appointments to view must be made through the vendors selling agents:
ASG Commercial Ltd, 17 Kenneth Street, Inverness, IV3 5NR
E: info@asgcommercial.co.uk
Web: www.asgcommercial.co.uk
OFFERS
All offers should be submitted in writing to ASG Commercial Ltd with whom purchasers should register their interest if they wish to be advised of a closing date if one is set.
