Kings Arms Hotel For Sale

Business description

Offers Over: £2,150,000 Freehold

A former 17th Century Coaching Inn in prominent roadside location close to the Skye Bridge on the enchanting holiday island. 81 en suite bedrooms, restaurant (140), residents lounge/lounge bar, public bar, staff block and managers house. The Kings Arms can trace its origins back to the 17thCentury but has been substantially enlarged and extended in recent times to meet the demands of the modern tourist and travellers. The hotel now comprises81 en suite letting bedrooms, 3 courier rooms, restaurant for up to 140 covers and 2 bars. Catering principally to the many tourists and coach parties who visit this popular holiday island the hotel enjoys a prominent location in the village of Kyleakin close to the Skye Bridge. The bedrooms are equipped with colour television and tea/coffee making facilities. There is also a 3 bedroom managers house, a staff block with 10bedrooms and car parking. The Skye Bridge is the main point of entry to the Island of Skye from the mainland at Kyle of Lochalsh. The diverse array of differing terrain available on Skye attracts sportsmen including walkers, climbers, fishermen, sailors and historians together with tourists. The Kings Arms with its prominent location in the village of Kyleakin is ideally placed to attract trade from the increasing number of visitors to the island. To date the hotel has traded on a seasonal basis apart from the public bar which is open year round but with appropriate marketing it is anticipated that additional business could be generated in the winter months. The Kings Arms is currently owned by a property investment company based in the south east of England. They acquired the Kings Arms in August 2005as part of a major investment in Scotland and the North of England. Following a review of their ambitions and future operations, this hotel has been identified as being surplus to requirements. Although trading satisfactorily, they wish to concentrate their resources on other activities. Excellent potential exists to fully exploit this attractive and well known hotel.

THE PROPERTY
The original building dates from the 17th Century. The main building is basically “u” shaped and arranged overground and 2 upper levels with white rendered walls under a pitched tiled roof.

PUBLIC AREAS
Access is gained from the main street or the car park into the Reception Area with reception desk and hotel office behind. Off the reception area is the hotel restaurant with seating for 140 covers. Also off the reception area is the Residents Lounge/Lounge Bar. Public bar with separate entrance.

LETTING BEDROOMS
81 letting bedrooms to sleep 146 (43 twin, 18 double,18 single, 2 family). All bedrooms have en suite facilities, colour television and hospitality trays. 3 Couriers Rooms.

MANAGERS HOUSE
Opposite the hotel to the rear is a Managers House comprising Reception Room, 3 Bedrooms and a Bathroom.

STAFF ACCOMMODATION
Chefs flat comprising reception room, and 2 bedrooms, staff block comprising 9 single en suite rooms and 1twin room.

SERVICE AREAS
An extensive range of service areas including commercial kitchen with ancillary areas, various stores, laundry.

OUTSIDE
Rear service yard and parking for 9 cars and 3 coaches.

LOCAL AUTHORITY & SERVICES
Mains water, electricity and drainage. Bulk propane gas. Passenger lift.

LICENCE
Full Hotel Licence

TRADE
The Kings Arms is very much a tourist hotel traded on a seasonal basis from March to October although the Public Bar trades all year round. The hotel services a substantial coach tour and individual tourist market together with local functions and activities. When the present owners acquired the Kings Arms they were given various statements of past trading performances, which indicated:-Year Ended 2004 Accommodation £491,500Food & Beverage £332,800 Other Income £21,000 Turnover £845,000 net of VATA trading profit (before interest, depreciation etc) of around £324,400 was shown.

PRICE
Offers over £2,450,000 are invited for the feuhold property complete with goodwill and trade contents(according to Inventory) but excluding personal items. Stock at valuation.

FINANCE
Colliers Robert Barry is in touch with different brokers and lenders specialising in all aspects of the hotel, hospitality and pub sector and will be pleased to introduce them to prospective purchasers on request.

OFFERS
All offers should be submitted to Colliers Robert Barry with whom purchasers should register interest if they wish to be informed of closing dates.

TO VIEW
All appointments to view MUST be made through the vendors' agents who are acting with sole selling rights.

Property information

Property:

Freehold