Royal Jubilee Arms Hotel For Sale

Business description

New 10 Year Tenancy Busy country hotel at entrance to 2 Angus Glens26 en suite letting bedrooms and comfortable.2 bedroom flat for managers. Predominantly residential trade with valuable entertainment and wedding business. The Royal Jubilee Arms Hotel is a long established country hotel offering a wide range of facilities to a substantial flow of local and visiting custom year round. With 26 en suite letting bedrooms, the bulk of which are located in a modern annexe adjacent to the original building, an extensive range of public areas and a parking capacity to match, make the hotel a natural choice for catering for a large number of people. There is also a spacious flat for mangers, with its own garden, which can be accessed from within the hotel or by its own separate entrance. The village of Dyke head is located at the junction of Glen Clova and Glen Prosen, an area blessed with spectacular scenery, unmatched for walking and touring and the Royal Jubilee Arms Hotel is ideally situated to benefit from the large amounts of trade passing its door. In addition, Kirriemuir is well known as the birthplace of J M Barrie, creator of Peter Pan, and the close proximity of Glamis Castle is another major attraction. There is also a wealth of field sports available in the area which attracts sportsmen, from all over the country, many of whom use the full facilities of the hotel. A large self contained function suite is a popular venue for dances and weddings from a wide catchment area including Dundee. The property was purchased recently as an investment and the new owner, who spends most of the year working overseas has decided to create a new 10 year tenancy to allow the business to continue operating. The previous owner established a strong business amongst private commercial and sporting trade with valuable entertainment and wedding business giving the hotel a busy year round trading period. A new tenant can expect to continue to attract this type of business to the hotel.

THE PROPERTY
The main building is of stone construction under a slate roof with modern extensions. The adjacent annexe is a timber clad building. The accommodation in the main building is laid out on basement, ground and first floor levels and on ground and first floor levels in the annexe.

PUBLIC AREAS
Main entrance into Sun Lounge which leads to the reception Lounge Bar with reception desk and hotel office behind. Main Restaurant (70) with central dance floor. Self contained Function Suite (160) with bar and split level lounge area and central dance floor. Public bar with its own separate entrance. Residents lounge on first floor. There is a snooker room in the basement.

LETTING BEDROOMS
26 letting bedrooms to sleep 52 guests (9 double,12 twin, 3 single, 2 family). All bedrooms have direct dial telephone, colour tv, radio alarm and tea/coffee making facilities. 8 bedrooms in the main hotel bedroom have electric convector heaters and the 18annexe bedrooms all have central heating radiators.

MANAGERS FLAT
A spacious flat towards the rear of the hotel which can be accessed from the function suite or by its own separate entrance comprising lounge and 2 en suite bedrooms. There is also a private garden area.

STAFF ACCOMMODATION
There is a large bedroom with en suite shower room in the main hotel.

SERVICE AREAS
Main hotel kitchen with preparation room. Wash up area. Dry goods store. Walk in refrigerator and walk in deep freeze. Beer cellar. Laundry room, Boiler room.

OUTSIDE
Car parking for up to 60 cars at the front and side of the hotel. There is a lawned area to the side of the hotel. Double garage.

LICENCE
Full Hotel Licence with Regular Extensions and Children’s Certificate. An application for a Premises Licence has been lodged.

TRADE
We understand from the previous owner turnover for the year ended 30th June 2008 was £278,000 net of VAT.

TENANCY
A new 10 year tenancy with 3 year breaks on an FRI basis. An in going capital payment/premium is being sought. Rent reviews will be 3 yearly and based upon RPI.

PRICE
Capital Premium and rental offers are invited. (For guidance the landlords are expecting rent in the region of £25,000 per annum). The incoming tenant will require to purchase all stock at valuation in addition.
DIRECTIONS
Kirriemuir 3 miles, Glamis 8, Alyth 13, CouparAngus 20, Dundee 22. From the A90 take the A926to Kirriemuir and as you pass through the town you will see the sign for the Glens. Take the B955 and the Royal Jubilee Arms Hotel will be found on the right hand side of the road as you pass through the village of Dykehead.

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.

FINANCE
Colliers Robert Barry is able to assist prospective purchasers by introducing sources of finance if required. Whilst we do not charge the buyer for this service, we may receive an introductory commission from the lender or broker involved.

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