For Sale £975,000 - Bed & Breakfast, Guest House
Substantial 4-star guesthouse located within prime St Andrews trading location. Positioned only a few hundred yards from the 1st tee of St Andrews Old Course. 8 bed property offering bright letting rooms boasting period features throughout. Currently operating under management, seeing sales averaging over 6 figures. Located within one of the finest locations for this type of business in Scotland. Generous manager’s/owner’s apartment housed within rear extension. Owned by vendors for more than 20 years.
Sitting on a prime central location within the prosperous Fife town of St Andrews, Craigmore Guesthouse is a fine 8-bedroom Victorian town house property that has been owned by our clients for over 20 years. Situated within the highly desirable Murray Park, only a few hundred yards from the 1st tee of the world-famous Old Course, Craigmore is a most charming 7 letting room 4-star guesthouse.
The town of St Andrews which is home to St Andrews University is easily accessible by road and rail and lies 13 miles south of the city of Dundee, around 33 miles east of Perth and only 50 miles north of the city of Edinburgh.
With magnificent architecture found throughout the town and boasting a wealth of historic buildings such as the Castle & Cathedral which are located nearby the guest house, beautiful golden sands and coastal walks, the town of St Andrews truly is one of Scotland’s most desirable locations to visit and in which to live.
The location of the property, which is a short stroll from the centre of town, is ideal for owners and guests alike to take advantage of the many wonderful facilities and attractions the beautiful seaside town of St Andrews has to offer.
World famous as the home of golf, St Andrews which in July 2022 is due to host The 150th Open at the Old Course, is located only a short stroll from the front door of Craigmore Guesthouse. Boasting seven magnificent golf courses, the town is a must visit for every golf enthusiast and sees visitors travel from all over the world to play the course and enjoy the historic town.
Currently operating under management, the 4-star Craigmore Guesthouse is located at number 3 Murray Park and benefits from a substantial ground and upper floor extension to the rear of the original house. Having operated within the town for around 10 years before taking over Craigmore Guesthouse, with the experience and knowledge gained, our clients knew exactly what would be required to enjoy a long and successful period of trade within the sector.
Boasting arguably one of the best trading locations for this type of business in Scotland and with the comfortable letting bedrooms, sizeable public areas along with the all-important private apartment, Craigmore Guesthouse represented the perfect find for our clients.
Initially operating the business themselves, then latterly, in excess of 10 years, trading under a live-in management team, the vendors have enjoyed a period of ownership of Craigmore Guesthouse in excess of 20 years which has proven to be a highly rewarding & lucrative investment.
During their lengthy tenure our clients have created a solid B&B operation which has built up an enviable record of repeat and referral business and one of 4-star quality accommodation. The focus on service and standard of accommodation on offer has resulted in our clients seeing income levels averaging in excess of £100,000 per annum under management.
From well-maintained cornice work, the impressive staircase to the bright and airy letting rooms, Craigmore Guesthouse offers many of the period features that you would expect of a fine Victorian, St Andrews town house.
With the level of income achieved, location and size of the property, the business would be suitable for either an owner operator or an investor who may wish to operate the business as our clients have done with great success under management.
Trading could also potentially be increased significantly by expanding activity with booking agencies, which our clients have done on a limited scale.
A major bonus to Craigmore Guesthouse is the sizeable modern ground and upper floor extension that houses the private owner/managers apartment boasting lounge with dining area giving direct access via patio doors to the small enclosed rear garden, bathroom, kitchen and double bedroom. Our clients have only now decided to offer the business for sale after 20 years due to their wish to retire.
Housed at number 3 Murray Park within St Andrews, the extended sandstone town house property is laid out over ground level with two upper floors and consists of: vestibule, reception hallway, breakfast/dining room and 7 en-suite letting bedrooms. All of the letting bedrooms are equipped with flat screen TVs, complimentary tea and coffee with some bedrooms offering silent refrigerators, hairdryer and wireless internet access. Private accommodation: Housed within a comfortable ground and upper floor rear extension, the double bedroom private apartment consists of: hallway with staircase leading to upper floor, lounge with dining area offering access to rear garden, bathroom and kitchen. In addition to the apartment, the main house has a large cellar area which is currently utilised as laundry room with former office area. Free car parking is available directly to the front of the house.
Craigmore Guesthouse boasts 7 en-suite letting bedrooms each of which are equipped with Freeview TV and walk in showers and one with a bath. The property benefits from one of the letting bedrooms being a ground floor bedroom, with the 6 further rooms located on the first and second floor of the property. All letting bedrooms are finished to a 4-star standard and are tastefully presented.