Sold £70,000 Leasehold - Hotel, Leasehold property, New asking price.
High Street, Melrose, Scottish Borders, TD6 9PD
Refurbished & modernised 33 bedroom town hotel. Handsome property located in the borders town of Melrose. Vast improvements and investment made over recent years. Lounge bar, function room with cocktail bar, restaurant and large rear car park suitable for coaches. Thriving business that has enjoyed impressive income levels over recent years. Over £300,000 of future bookings in place up to and beyond 2017. Terrific opportunity for couple or family to operate a highly successful borders hotel.
With a population of over 1600 residents, the town with its rich history is surrounded by some of the most beautiful scenery that southern Scotland has to offer. The surrounding hills offer the peace and tranquillity of the great outdoors, with many fine walks and fishing on offer, plus the area has many excellent golf, football and rugby facilities all nearby. The area also boasts a large number of visitor attractions such as historic houses & castles plus many popular towns and villages in close proximity to George & Abbotsford Hotel such as Gallashiels, Kelso, Jedburgh & Hawick just to name a few and each with a wealth of interesting places to visit.
The flexibility of the hotel allows for a good mix in trade to the business with a wide range functions such as parties, weddings, funerals and a regular stream of businesses utilising the hotel for meetings and small conferences, while various committees use the hotel for their meetings. Now enjoying a high level of future bookings which to date is worth in excess of £300,000 with bookings up to 2019 through various coach companies.
The vendors have also seen turnover at George & Abbotsford Hotel steadily growing year on year with income levels growing rapidly since taking over the business.