Reference - 44908
The Castle Hotel is a well run business that has been owned by the current proprietors since 2002. The business is currently running under management. Since purchasing the property, the current vendor’s have renovated and upgraded the property. The hotel is now presented in good condition throughout, and offers a profitable small business. The property has been placed on the market due to the current proprietor’s other business commitments. The business trades throughout the year and its quality is reflected in the number of awards it currently holds such as achieving 7.5 out 10 on and being well regarded in the area. The business is trading well but offers any potential purchaser the opportunity to expand the business. There is significant potential to increase turnover by offering a full food service.
Coldstream is a town and civil parish in the Scottish Borders area of Scotland. It lies on the north bank of the River Tweed in Berwickshire, while Northumberland in England lies to the south bank, with Cornhill-on-Tweed the nearest village. A former burgh, Coldstream is the home of the Coldstream Guards, a regiment in the British Army
Each year, during the first week of August, Coldstream hosts a traditional "Civic Week" where it includes historical aspects of the town's history such as the Torchlight procession and horse-rides to the Battle of Flodden battlefield.
The Castle Hotel occupies an enviable corner location on High Street and Court House Place in the centre of the village.
The Coach House dates back to 1800s, and sits commandingly within the town. The property is a semi-detached stone built property, that has been tastefully renovated and maintained by the current vendor
The main entrance of the Hotel is via a traditional wooden porch entrance from the front of the property. The entrance leads directly into the public lounge bar. On entry the bar is located to the left. The bar is of wooden construction with a well stocked gantry to the rear. The lounge bar is well furnished with wooden tables, along with high backed chairs and upholstered bench seating, and is tastefully decorated in keeping with the period of the property. The bar further benefits from having a pool table, juke box and 2 flatscreen TVs.
From the bar you will find a staircase leading to the upper floors.
On the first floor you will find the restaurant/function suite. This space is again presented in traditional décor and furnished with wooden tables and chairs. To the right of the restaurant, you will find a second room. This room is not currently used by the vendor, but would give an ideal space for a small meeting room or private dining area.
Ladies and gents facilities and well located of the public areas on the first floors.
Letting bedrooms are situated on the ground and 2nd floor.
The Castle Hotel has 8 letting bedrooms, all of which are ensuite. The bedrooms are set over the ground and 2nd floor. On the 2nd floor you will find 7 en-suite letting rooms. These rooms comprise 2 twins, 4 doubles and 1 single. On the ground floor there is an eighth letting room. This room is set as a family room with a double and single bed.
All of the bedrooms are presented to a good modern standard and benefit from en-suite facilities, flat screen TVs, Wifi and hospitality trays.
The current owners have converted the ground floor owner’s suite into a family letting room and this could easily be utilised as owner's acomodation.
As expected with a property the style and size of the Castle Hotel, there are ample service areas including; a fully fitted commercial kitchen, laundry, cellar, dry goods store, spirit store and boiler room.
There is ample storage on each floor of the hotel for housekeeping.
The property further benefits from CCTV and wifi throughout the property.
The property occupies and enviable location and sits commandingly within the town. To the front of the property there is an outside seating area, furnished with four wooden picnic tables, giving seating for 24 persons. The area is laid to concrete slabbing. To the right of the property you will find a large public, free carpark, giving ample off street parking.
To the rear there is a small courtyard giving access for bins and service access.
Business and Opportunity
The Hotel trades throughout the year. The business has a good mix of tourist guests, contractors and business visitors as well as serving the local community, who use the hotel for meeting friends. Several local clubs also use the hotel for meetings and events.
The business is currently running under management, and is not operating to its full potential.
The business offers an excellent opportunity to increase revenue and profits by making more use of the restaurant/function suite and by adding the use of the smaller room on the first floor.
We are advised the property all mains services.
The sale of The Castle Hotel offers a rare opportunity to purchase a well presented property which is trading well but with potential for expansion of the business. Viewing is highly recommended.
The business trades with the benefit of a full Hotel Licence, and conforms to all fire regulations.
oiro £279,950 are sought for the heritable property, fixtures, fittings and goodwill. Stock in trade will be additional at valuation.