Situated within the picturesque town of Pitlochry, this substantial property with elevated position, of 4-star standard, offers 13 en-suite guest rooms, plus good sized 3-bedroom self-contained owners’ accommodations with own separate access & off street parking & beautiful, easily maintained, landscaped grounds & gardens
The current owners have operated the property for over 7 years as a lifestyle business, only selling guest rooms for 57% / 208 days of the calendar year (as at 31.08.2018- business year end), primarily but not exclusively around seasonal demand - so lots of room to increase sales further.
The original Victorian Country House, built in circa 1880, has been sympathetically extended & decorated with a blend of Antique and Contemporary styles to provide a peaceful, relaxing and truly memorable bed and breakfast experience. The property is truly a `turn-key`, walk-in, well established trading business with no further substantial capital investment required as has been constantly maintained & updated with circa £15k per annum improvements year on year.
The current property & business operation has several unique selling points, to potential buyers, including:
- The very high quality of the establishment’s decoration & presentation through ongoing re-investment.
- The exceptional panoramic views offered to most of the guest bedrooms, both dining rooms, lounge as well as the outside garden patio area with seating.
- The feature `Honesty Bar` stocking 50+ Malts & Scottish Gins, far exceeds competitor offering.
- The consistently high, Year on Year, B&B, Average Room Rate achieved - £90.32 (ex. VAT) / £108.38 (inc. vat) for 2017-18.
- There is significant growth potential to be unlocked, as rooms are not sold 43% / 157 nights of the year.
Reason for Sale – The current owners are looking to sell the business due to personal health matters
Pitlochry is a thriving centrally located, within Scotland, `honeypot` town drawing vast numbers of leisure & tourists thus maintaining exceptionally high levels of occupancy and room rate. The town has some 3,000 population, 24 miles north of Perth, with excellent connections to all major Scottish cities by road and indeed rail with direct trains to London
Within Pitlochry, local attractions include both Edradour & Blair Athol (est. 1978) distilleries & visitor centres bringing between them some 200K visitors annually. Pitlochry Festival Theatre, seating 520, has a very strong following of about 100K total pa, with two performances daily through the season with everything from standard theatrical shows through to avant garde works, films and performances from other branches of the arts too. The new £4M Pitlochry Dam Visitor Centre, opened Spring 2017, enjoys 100K visitors annually & the renowned annual Enchanted Forrest event, each October for 4 weeks, Scotland's premier sound and light experience, hosted 73,000 attendees in 2017
Castles: Blair Castle – 8 miles, Hermitage, Dunkeld – 11 miles, Castle Menzies – 15 miles, to name but a few. Pitlochry`s annual Hogmanay Street party had more than 3,500 participants in 2018 - Ceilidh dancing up the closed high street on New Year’s Day & the town’s annual Etape Cycling event brings some 5,000 competitors during May each year, excluding support staff and non-competitor attendees
Loch Tay, Queens View, Pass of Killiecrankie & Soldiers Leap, Loch Tummel, Rannoch Moor, Ben Lawers, Ben Vrackie (from where we get our name), Schiehallion, Faskally Forrest, Tay Forest Park, Explorers Garden, Linn of Tummel, the famous Birnam Oak, Dunfallandy Stone, Loch of the Lowes - Scottish Wildlife Trust, Estate tours & highland experiences at Blair Castle & Highland Safaris near Aberfeldy. Golf – Pitlochry, Dunkeld, Gleneagles & Carnoustie, are all within a very easy commute of Beinn Bhracaigh and Pitlochry. Of course, the many rivers in and around the town provide excellent Salmon & Trout fishing, with walks in abundance including the famous Rob Roy Way a 92-mile walk from Drymen ending in Pitlochry, together with white water rafting, bungy jumping – the list goes on…!
The Guest Accommodations, over ground & first floors only:
Comprising 13 en-suite letting rooms, fitted out to a very high-quality standard & in excellent order, eleven of which share our very, very special views out over the town of Pitlochry & the Tummel valley
A) By room type
- 6 x `Double` standard en-suite guest bedrooms, with King size beds, approx. average 16 sq. mtrs
- 5 x `Classic` standard en-suite guest bedrooms, with Super-King beds (3 of which can twin), approx. average 19 sq. mtrs
- 1 x `Superior` standard en-suite guest bedroom, with Super-King bed, approx. 26 sq. mtrs
- 1 x `Junior Suite` standard en-suite guest bedroom, with Super-King bed, approx. 30 sq. mtrs
B) By location
- 2 x `Double` + 2 x `Classic` standard, guest bedrooms (both can twin)
- 4 x `Double` + 3 x `Classic` (1 of which can twin) + 1 x `Superior` + 1 x `Junior Suite` guest bedrooms
Guest Public Areas, on ground floor:
- Delightful large bright welcoming entrance Reception area & Public WC
- 2 x beautifully stunning Breakfast Dining Rooms, to sit 26+ guests with panoramic views, would make an exceptional restaurant/dining area for evening meals if required
- Large feature `Honesty Bar` with seating & additional separate small `Lounge` area
- Substantial & well maintained landscaped walled garden area with patio and quality outside furniture offering panoramic views of Pitlochry & the Tummel Valley beyond
- Off street car parking for guests
Operational Areas, on ground floor:
- Very well appointed large & `fit for purpose` modern commercial kitchen
- Large linen & housekeeping storage + separate Laundry area with 2* washers & 2* dryers
Self-contained Owners Accommodations, with private access, ground floor, including:
- 3 large Bedrooms & large family bathroom + Office space (option to convert to an additional `selling` guest room with own access)
- Owners breakfast/dining area & separate Lounge
- Externally owners `private` garden area & large double garage with additional off-street parking.
- Further small en-suite bedroom could be created, for either selling as a `guest room`, or staff accom.
General Other Information Data:
– Owned and managed by owners, via a 3rd parties, who have just completed a website update of the domain site they own www.beinnbhracaigh.com
Premises Liquor Licence - Held
Staff - The business is currently managed & operated by the current owners & 1-2 part-time staff/sub-contractors
Rented Equipment – No rented or leased equipment within the building. Bed linen (not towels etc) & table cloths are on a `contract hire` agreement that can be terminated by owners if required to do so.
Exclusions – Some, nominal amount of, personal effects & furniture within the building & all items within the `Owners Accommodations` are excluded from the Sale – detailed listing available
Fire - Certificate & current Fire Risk Assessment in place & can be provided
EPC - The last rating granted was `G` in April 2018
Services - Mains drains, gas, electricity & water are all connected to the property
Rates – 2018/2019 Perth & Kinross Council - Business/Commercial element @ £5,376 (Nil costs due to 100% Small Business Bonus credit applied) with Domestic (owners accommodation) element, Band A @ £810.67 per annum
Current Trading – A successful owner operated guest house business, trading at equivalent 4* standard, with TripAdvisor Reviews score of 4.9/5.0 - of which 88% are rated `Excellent`, also gaining a 9.5/10.0 review score, from Booking.com, for 2018 bookings placed.
The business operates on a partially seasonal basis on purpose & only trade 57% (208 / 365 days) of the year achieving 51.7% Occupancy - so lots of area for development. Actual unadjusted Occupancy = 29.5%. Even from this low Occupancy, annual P&L Accounts show Sales Turnover of 139k, with substantial Gross Profit of 110.2k (after deductions `Purchases`, OTA`s `Commission` & `Linen Hire`), achieved as at Yr. End 31.08.2018
High Season, own B&B inc. rack room rates £89 (double for sole occupancy) up to £135 for the junior suite. When averaged against Occupancy, an average B&B inclusive room rate of £90.32 (ex VAT) / £108.38 (inc. vat) was achieved.
Business from own website, repeat bookings - some guests returning multiple times per year, listings in numerous international travel guides. The business works with several UK, German, Belgium, French, Swiss & Irish predominantly self-drive tour agents, also with a US, golf specific, tour company. The owners also SMART manage listings on several OTA’s & have a presence/listing on Facebook, Twitter, Google Shops etc.
The business also has a healthy walk-in trade from its prominent position off East Moulin Road/A924, as this is the main access to Pitlochry from Braemar. Beinn Bhracaigh is one of the first accommodation providers that visitors, who have not booked, may try to seek out on entering the town from the south/Perth
Accounts for the business will show a very stable and growing turnover over the past 7 years, although it is not trading at anywhere near it`s peak. Turnover for the company trading year (ending 31.08.2018) was £155k (inc. vat), a 2.5% increase on the prior year, producing a substantial adjusted level of profitability. Accounts for the business will be shown to seriously interested parties following a formal viewing of the business.
Further Development Opportunities - There is a real opportunity to expand the business by extending the bookings & occupancy uptake - currently closed 43% of the calendar year
Restaurant dining sales (lunch/dinner), to both residential & non-residential custom, not offered currently
Wet sales – subject to licensing, to non-resident guests, not offered currently
Full Service Hotel – There is the possibility of changing the business to that of a Hotel. This would add additional F & B sales (residential & non-residential), which would dramatically increase turnover
Alternate Use - potential for conversion into Residential Care, Self-Catering Holiday, Flats or similar
Outright Purchase Price - Offers over £899k are sought for the heritable property including the trade fixtures, fittings, furnishings and equipment, together with the goodwill of the business, which is to be sold complete as a going concern. Food (Est. £2.0k) & Bar (Est. £2.0k) Stocks in trade are excluded from the purchase price. If the currently used linen hire company is to be maintained by new buyers, then cost of clean/unused stock to be purchased at an additional price, at valuation on the date of entry.
The heritable property is not on the balance sheet. Therefore the sale will consist of the combined values of a) the heritable property & b) the business, goodwill, fixtures & fittings
Lease to Buy Option - Whilst not a preference, the owners may consider a `Lease-to-Buy` option where they would sell the business/fixtures/fittings/goodwill & retain the heritable property, which would then be available to lease for a fixed term of not more than 5 years.
The owners will not consider a full lease option i.e. where the business/fixtures/fittings/goodwill is not sold initially
- Strictly by prior agreed appointment only – contact to be made direct to the owner James Watts, phone (between 10.30 – 15.30 hours only) 01796 470355, or by email to firstname.lastname@example.org
Offers - All Offers, couched in Scottish Legal Terms, should be submitted direct to the owners in the first instance, who will forward on to their nominated Agents