Dreadnought Hotel For Sale

Business description

Offers Over: £2,000,000 Freehold

Handsome 61 e/s bedroom town/coaching hotel. Prominent main road site close to centre of "Gateway to the Trossachs". Bar, Dining Room, Meeting Rooms, Managers/ Staff accommodation. Valuable mixed year round trade. The Dreadnought Hotel is situated just a very short walk from the centre of Callander, an attractive, prosperous and popular country town often referred to as “the gateway to the Trossachs”, and on the edge of the newly created Loch Lomond and the TrossachsNational Park. The area attracts a very large number of visitors, and has a well developed hospitality industry to service the needs of travellers and the recreational public. Callander itself is 15 miles from Stirling and the M9, and therefore has easy and quick access to the central belt and the national motorway network. The Dreadnought Hotel is a conventional, long established, fully licensed 61 bedroom town and coach tour hotel, combining a number of fine period features with a generous and spacious layout. In its present form the Dreadnought is of 2 star standards, wholly compatible with the demands and needs of the popular and predominantly UK based coach tour market. The property occupies a level and generous site well within the built up commercial and residential area of Callander, and, in addition to the existing trade and future profits, also offers tantalising development opportunities for imaginative and enthusiastic proprietors (subject to consent). The Dreadnought Hotel is currently owned by an investment and property company, based in the southeast of England. They acquired the Hotel in August 2005 as part of a major investment in Scotland and the north of England, and after a review of their current 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.

THE PROPERTY
The original Dreadnought Hotel was built by the Clan Mac Nab in 1802, and the property was extensively enlarged in 1890. Constructed of stone under slate roofs, accommodation is arranged on ground, first and second floors (with attics) together with extensive additional buildings to the rear. The principle facilities may be summarised as:

PUBLIC AREAS
The main entrance is protected by an attractive iron framed canopy leading through an inner vestibule to the Reception Hall with office and reception to the far left.On the left hand side is the Lounge Bar with panelling, dance floor and extensive portable seating and a seating capacity of around 100.To the right of the hall is the attractive Dining Room/Function Room with seating for up to 132. There are two Meeting/Conference Rooms: The Findlay Room – 20 theatre style The Teith Room – 50 theatre style

LETTING BEDROOMS
61 Bedrooms to sleep 105 (4 family, 29 twin, 17 double, 11 single) . All bedrooms have en-suite facilities, with 45 bathrooms and 16 shower rooms etc. Bedrooms are comfortably furnished and equipped with colour TV, tea and coffee making trays, etc.

MANAGER'S HOUSE
To the rear of the hotel there is the Manager’s house, a modern bungalow with 3 Bedrooms and Living Room etc.

STAFF ANNEX
Alongside is the Staff Annex (converted from old stables) and comprising 18 staff rooms.

SERVICE AREAS
Large traditional and well equipped kitchen. Still room/wash-up, laundry.

OUTSIDE
On the far left-hand side of the hotel is an enclosed town garden with tables and benches for use in fine weather. To the rear is a service yard and staff car parking area.

SERVICES
Stirling Council, Stirling. Mains, gas, electricity, water and drainage. Electric heating. One passenger lift (6 persons).

TRADE
Management accounts for the year ended 31 January 2008 show total sales £761,605 (net of VAT) divided between the principal activities as: Accommodation 35%Food 46%Beverages 18%Other 1%This performance has been achieved during a period of serious disruption and minimal marketing and promotion. The size and prominence of the Dreadnought Hotel suggest that new owners should be able to extract both growth in trading capability, and exploit the property development opportunities afforded by this fine town centre establishment (subject to consent).

LICENCE
Full Hotel Licence with Regular Extension. Premises Licence to be applied for - effective from June 2008.

PRICE
Offers over £2m are invited for the freehold property complete with goodwill and trade contents (according to inventory), 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