Mansfield Castle Hotel sits in 3 acres of land to the southwest of The Morangie Hotel, about a 5 minute drive from its partner. The ground is flat and encompassed by a walled garden. There is a grassed area to the front of the Castle, with an enclosure of mature trees to the north and along the southern boundary. The driveway entrance leads to the front car park, accommodating up to 20 vehicles on a hardcore area. The main building is a converted baronial-style mansion house with a centrally sited tower with battlements under a multi-pitched slate-covered roof. The main accommodation is over 2 principal floors with the tower bedroom in addition. The property has been extended to the rear with a detached extension over 2 storeys modern construction with harled exterior and slate-covered roof. There is an adjoining walkway between the main building at the first-floor level and the first floor of the annexe for letting accommodation.
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Location
Both hotels are located in the village of Tain, which is one of the oldest Royal Burghs in Scotland, given its status in 1066. This thriving town is located on the Easter Ross peninsula north of Inverness and adjacent to the Dornoch Firth. The town is steeped in history, given its Royal Burgh status and its religious history is a place of pilgrimage for many centuries and a place of sanctuary. More recently, the town has become an ideal base for tourists visiting the area and benefits from a renowned golf course designed by Tom Morris. The proximity to Dornoch and other world-famous golf courses enhances this town’s location. There are also 5 castles nearby, including Skibo, which has become a prestigious luxury destination. There is also a thriving oil and gas economy locally, with the nearby Nigg Terminal bringing a steady stream of corporate customers for the Hotels. Nigg has recently had a multi-million-pound investment from it’s relatively new owners.
Accommodation
ACCOMMODATION SUMMARY
Public Areas
Conservatory
Restaurant
Elegant reception area
26 letting rooms
Lounge Bar Residents seating area
Function Room
Ladies, Gents and Disabled WC
Service Areas
Large Commercial Kitchen
Offices Ancillary
Stores Outside
Terms
Both properties are offered as Heritable interests.
PRICE Offers in the region of £2,500,000 are sought for the heritable interests in the properties, the trade fixtures, fittings, furnishings and equipment, together with the goodwill of the business which is being sold complete as a going concern. Stock in trade will be sold at valuation on the date of entry
RADE ENERGY PERFORMANCE CERTIFICATE (EPC) The business is that of a 45 bedroom hotel (split between 2 buildings) with 2 restaurants and public bars. The owner trades both properties as a single business swapping staff between 2 as required and outwith of the full season, only opening The Mansfield Castle Hotel when Morangie is at 100% occupancy. The business trades 12 months, providing services to the corporate and tourist market. We understand that NIG are regular supporters of the business all year round with visiting executives and workers for their Wind Farm, renewables and Oil and Gas industries within the town of Tain. The tourist market is exceptional during the main season, with the North Coast 500 running right past Tain. This provides ample European and American visitors to the area and many UK visitors on staycations. We understand that the business uses agents within Europe to increase tourist travellers, and approximately 27% of all guests during the summer are European (under normal trading conditions). However, during the most recent COVID times, the hotel was well used by visiting English, Irish and Welsh guests on staycations who were paying excellent rates and using the local amenities such as Tain Golf Course; Glenmorangie Distillery and the North Coast 500 as a reason for their visit. Bedroom room rack rates range from £150 per night for a standard double/twin to £220 per night for a superior and up to £320 per night for the tower suite. Corporate ranging from £85 to £150 depending on the season. We understand that accommodation accounts for some 60% of the business’s turnover. The restaurant offers an excellent, freshly prepared, locally produced menu at The Morangie House Hotel and a seafood menu within The Mansfield Castle. The average spend is around £20-£25 per cover. In addition, The Morangie House Hotel offers a Sunday carvery for £15 £16, which is very well attended and can exceed 100 covers per day. Accounts for the business show a turnover of £1.2m with an average adjusted profit of £278,000 over the past 5 years. Trading accounts will be provided to seriously interested parties on completion of a formal viewing.
Specification
- 2 restaurants and lounge bars
- Function Rooms
- On the popular NC500 driving route
- Excellent reputation locally and online
- £1.2m turnover producing an average adjusted profit of £278,000 over the past 5 years
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- Two stunning Hotels run as one business with 45 bedrooms on the very popular NC500