Specialist hospitality agent Drysdale and Company has brought a “rarely available” guest house to market for sale in the Scottish capital.
The Queen Street Guest House, located at a prime location in the New Town, is set in a Georgian terrace and includes a large extension to the rear.
Formerly trading as a four-star guest house since 2006, the property includes fourteen ensuite letting bedrooms and is on the marketat offers over £1.3 million.
The agent said the guest house presents an “excellent opportunity for a new operator to take over an established business with high historic occupancy and profit levels”.
The property also presents significant potential for development, subject to planning, to create individual residential or serviced apartments, Drysdale and Company said.
Stuart Drysdale, owner and director at the agency, said: “45 Queen Street represents a rarely available opportunity for a buyer to take on an established and profitable business.
“The property extends to over 4000 sq ft and also presents exciting potential re-development opportunities to create additional accommodation on the footprint, subject to suitable consent being granted.
“The location is ideal for a base to explore the capital and benefits from being on a primary route into the city centre, and close to all transport links.
“Interested parties should register interest to ensure they can be informed should a closing date be set.”
Owner Mr Shabaz Rafique said: “Stuart previously sold the Castle View Hotel in Castle Street for us. The sale went through smoothly and enabled us to pursue our commercial property interests which we are now going to concentrate on.”
“We have very much enjoyed being the owners of the Queen Street Guest House and are proud of what we have created. A new owner will benefit from the huge potential there is to take this business further still.
“As we are now busy with several new development sites in the capital and across Midlothian, including the redevelopment of the old Red Cross building in Dalkeith, we have decided the time is right for us to sell and concentrate on these new business interests full time.”
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