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Hotel In “Honeypot” Trading Location, Crusoe Hotel, Main Street, Lower Largo, KY8 6PT

not specified / Leisure / Hotel

For Sale - £895,000.00

Available - Last updated: 23 April 2019

Predominantly an “L” shaped building of stone construction with pitched and slate roof.

Accommodation is laid out over ground, first, second and third floors. 

THE BUSINESS - The business has been owned by our clients since 2003 during which time they have overseen a continued solid trading performance for the last 15 years. The business trades very well but has huge opportunity to improve under new owners’ hands. Our clients have lapsed planning permission for a bold refurbishment of the reception and lounge bar areas as well as the bedrooms to make the most of the coastal views. Although this has lapsed this is something that new owners may wish to invest into. The business is run by our clients with the assistance of a full compliment of staff. A staff list will be made available after a formal viewing. The business trades exceptionally well with a strong food and beverage trading performance as well as high levels of occupancy especially in the busy summer months. The rooms trade from busy platforms such as www.booking.com and are let out to a wide variety of parties including tourists, holidaymakers, golfers, fishermen, as well as those visiting and passing through the area. The business benefits from a unique trading location in one of the most attractive areas of Scotland. A viewing of this business is undoubtedly urged.

Location

The Crusoe Hotel sits at the harbours edge in the quaint, charming, East Neuk fishing village of Lower Largo. The trading location for the hotel is arguably one of the most scenic and dramatic in Scotland with the hotel perched harbour & beachside overlooking the Firth of Forth.

Lower Largo and the East Neuk of Fife is a popular holiday and second home location dominated by the pretty villages of Lower Largo, Pittenweem, St. Monans, Crail, Elie and Anstruther.

Lower Largo is also situated approximately 20 minutes from St. Andrews. St. Andrews attracts worldwide attention as the home of golf as well as being home to one of the most exclusive universities in the UK. These twin attributes bring thousands of visitors to the East Neuk of Fife year on year exploring the fantastic golf courses, sandy beaches and tourist locations dotted about this part of the Fife coastline.

As the name suggests, the Crusoe Hotel has a literary and historic influence – Lower Largo was the birthplace of Alexander Selkirk, who was the inspiration for Daniel Defoe’s Robinson Crusoe. This historical connection also drives the tourists and visitors to the village and hotel all year round.

In terms of distances, Edinburgh, Edinburgh Airport and Dundee can be accessed within a comfortable hour and 10 minutes drive whilst St. Andrews is a 20 minute drive to the north. Other centres located close by include the large Fife towns of Leven, Kirkcaldy and Glenrothes.

In the nearby vicinity there are over 20 high quality golf courses including the famous courses at St. Andrews as well as the 2018 Open venue at Carnoustie and the world famous Kingsbarns course

Accommodation

INTERNAL DETAILS - Ground Floor Hotel entry is via the main entrance leading into an entrance vestibule then into the main reception hallway. There is an additional separate entrance for the bar via the car park at the front of the property. Reception Area & Office Meeting/Conference Room adjacent to the reception hallway (20) Crusoe Lounge Bar with a footprint of Alexander Selkirk set in stone in display case in the floor (22). The lounge bar works on a back-to-back basis with the Crusoe Bar with its own separate entrance at the front of the property. This is an exceptionally well presented lounge bar in traditional and authentic style to accommodate 36. First Floor On the first floor is situated Castaway Restaurant, to seat 60. This areas has a small lounge area preceding the restaurant area to accommodate 8. This area can also be used for private parties and functions.

LETTING ROOMS - There are a total of 16 letting bedrooms (13 double/twin, 1 single and 2 suites). All bedrooms are well presented in a neat standard with full ensuite facilities, hospitality trays and central heating as standard. The majority of the rooms do offer sea views with the two larger suites offering lounge, kitchenette area and spectacular views over the Firth of Forth.

SERVICE AREAS - Service areas in the Hotel include a fully fitted commercial kitchen which is situated on the first floor on a back-toback basis with the restaurant. There are a number of valuable stores throughout the property including various outside stores such as laundry room, boiler rooms (2), beer cellar etc.

EXTERIOR - The footprint of the hotel occupies the easterly part of Lower Largo harbour and pier with the hotel having ownership of the pier which extends beyond the hotel. There is a substantial car park to the front of the hotel as well as outdoor seating in front of the main bar and towards the end of the pier.

SERVICES - We are advised that all mains services are connected.

Terms

LICENCE - The business trades with a premises licence.

WEBSITE - www.crusoehotel.co.uk.

TENURE - Freehold.

RATES - As per the Scottish Assessor’s website, the rateable value at 1 st April 2017 is £44,800.

TRADING FIGURES - Turnover to July 2017 shows a net turnover of £786,000. Full trading information will be made available to seriously interested parties only after a formal viewing.

PRICE - A guide price of £895,000 is sought for the freehold property, goodwill of the business and all fixtures & fittings pertaining thereto.

Specification

  • 16 bedroom Hotel in “honeypot” trading location
  • Beautifully presented & authentic main bar (36)
  • Back-to-back “Crusoe” lounge bar (22) o
  • Charming first floor restaurant (60) with lounge (8) 
  • Car park & pier also included with property
  • Fantastic coastal location in charming fishing village
  • Trading strongly and profitably
  • Huge opportunity for hands-on new owners 

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £895,000.00 NA

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