Pubs and Hotel Property for sale in Alloa

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Extremely well presented & established hotel & restaurant in Alloa, nr Stirling

Alloa, Clackmannanshire, Scotland

  • Freehold Price: £625,000
  • Leasehold Price: Offers Invited
  • Annual Turnover: £500,000
Seller Reference: Claremont Hotel and Restaurant
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Business Description
 
 
 
 
 
 
 
 
 
 
 
 
 
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Seller Reference: Claremont Hotel and Restaurant
Request Details
Business Description
Claremont Hotel & Coopers Restaurant
23 Kellie Place, Alloa, FK10 2DW

• Purchased in 2015 and extensively refurbished
• Presented very well incl. new glazed restaurant extension
• Excellent reputation- Runs with full complement of staff
• Coopers Restaurant (100), No23 Lounge Bar & Function Rm (120)
• Extensive private parking and new decked area (50)
• 9 rms on upper floor (still in need of refurbishment)
• Ideal opportunity with prominent roadside location
• Huge scope to grow the accommodation side of the business

The Claremont Hotel & Restaurant has a prominent location along the A907, within the popular Clackmannanshire village of Alloa, in Central Scotland. Alloa has a host of local high street amenities, 4 primary schools and 2 high schools namely Lornshill Academy and Alloa Academy, along with excellent commuting and transport links. Having a regular bus service and Alloa Train Station, Glasgow & Edinburgh are with easy access, via Stirling which is only 6 miles away. By car Edinburgh, Glasgow (c. 1hr drive) and the central motorway links are all easily reached via the M9 to the west and the Clackmannanshire Bridge across the River Forth.
Other local villages include Clackmannan, Tillicoultry, Alva and Tullibody.

THE PROPERTY
Situated on Kellie Place, along the A907, which is the one way trunk road entering Alloa from the west. Since purchasing the property in 2015, the hotel has been extensively refurbished on the ground floor, including fully fitted commercial kitchen and toilets all presented to an exceptional standard throughout and commenced trading in December 2017. Due to its appealing façade and location the hotel is instantly recognisable and benefits from ample private parking to the side.
During the refurbishment the restaurant was increased to the front with a glazed extension, allowing covers for c. 100. Further consideration was given to the current layout and now includes a function room and lounge bar, with external decking and seating.
The upstairs, which is currently not in use, offers 9 rooms and further storage.

INTERNAL DETAILS

Accessed to the front from Kellie Place or to the side car park, via the function reception area, you are instantly taken aback by the exceptional fit out, which is obvious to see throughout.

COOPERS RESTAURANT
Fitted very well offering covers for c. 100 by way of free standing, perimeter and booth style seating and able to accommodate varying group sizes, including a private dining. The most noticeable feature of Coopers is the open kitchen and bar servery counter, adding to the overall ambience, along with the glazed roadside extension.

No23 LOUNGE BAR
Again, fitted to an exacting standard, the lounge bar is to the rear of the restaurant and is accessed from within the property or via the new external seating terrace/decking area, which offers a further 50 covers. For larger functions the lounge bar, function room and decked area can all be utilised together to make for an excellent function space. Further benefits include reception/cloakroom and bar.

FUNCTION ROOM
As aforementioned, this room can be used to accommodate varying function sizes, with a maximum of c.120 and includes its own bar servery, central timber dance floor, gents and ladies toilets and direct access to the kitchen.

LETTING ACCOMMODATION
Located on the first floor, there are 9 rooms, which are currently not in use and still need to be developed. However, the windows have been replaced with double glazed units and each room has plumbing for en suite facilities.
If required, it is felt that some of the upper floor could be converted into a spacious owner flat (STP), this again offers more possibilities for a new owner.

THE BUSINESS
Since opening in 2017 the business has built up an excellent reputation, not just locally but within the surrounding villages and has established itself as one of the finest restaurants in the area. Due to the extent and quality of the upgrade/ refurbishment, no CAPEX would be required on the ground floor and over the last couple of years the income has grown across the income streams. In addition, if a new owner was to introduce the bedrooms into the equation there would be potential for significant increase to the overall trade levels, although capital expenditure would be required to get the rooms up to the same standard as the ground floor.
With the layout to the rear, the function side of things would greatly benefit from accommodation as larger weddings/functions could be offered as a package and introduce the business to other markets and grow all income streams further.
The Claremont Hotel and Coopers Restaurant offers an excellent business opportunity with growth potential and a viewing would be strongly recommended to fully appreciate what is on offer.

LEASEHOLD OPTION
Our clients are willing to discuss a new a new FRI lease with favourable terms. Further details on rental figure and premium payable can be discussed with interested parties.
Tenure:
Leasehold
Location Details:
The Claremont Hotel & Restaurant has a prominent location along the A907, within the popular Clackmannanshire village of Alloa, in Central Scotland.
Leasehold Term:
Our clients are willing to discuss a new a new FRI lease with favourable terms. Further details on rental figure and premium payable can be discussed with interested parties.
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