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The Chestnuts 52 Racecourse Rd 14 Room Hotel Ayr KA7 2UZ £1,100,000 (£78,571/Room) 7.89% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Substantial stone property in large corner plot
- Car Parking
- Successful and established tenant business
EXECUTIVE SUMMARY
The property is held on a 20-year full repairing and insuring lease from October 2008 drawn on full repairing and insuring terms although with tenant’s repairs obligation limited through a Schedule of Condition. The passing rent is £86,800 per annum with rent reviews based on an R.P.I. increase. The majority of fixtures and fittings are owned by the landlord, and an inventory is attached to the lease. The tenant is Craig Homes Ltd and, whilst there is no history of rent arrears, the vendors are willing to guarantee the rental for the remaining term of the lease.
The subjects comprise a detached two-storey villa dating back to around 1870 with a range of one and two-storey extensions all set within a large corner plot offering ample off-street car parking and landscaped garden areas.
The subjects comprise a detached two-storey villa dating back to around 1870 with a range of one and two-storey extensions all set within a large corner plot offering ample off-street car parking and landscaped garden areas.
PROPERTY FACTS
| Price | £1,100,000 | Total Plot Size | 0.43 ac |
| Price Per Room | £78,571 | Property Size | 17,002 sq ft |
| Sale Type | Investment | No. Rooms | 14 |
| Yield | 7.89% | No. Floors | 2 |
| Tenure | Freehold | Year Built | 1870 |
| Property Type | Hospitality | Parking Allocation | 1.47/1,000 sq ft |
| Property Subtype | Hotel | Corridor | Interior |
| Costar Property Class | B |
| Price | £1,100,000 |
| Price Per Room | £78,571 |
| Sale Type | Investment |
| Yield | 7.89% |
| Tenure | Freehold |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Costar Property Class | B |
| Total Plot Size | 0.43 ac |
| Property Size | 17,002 sq ft |
| No. Rooms | 14 |
| No. Floors | 2 |
| Year Built | 1870 |
| Parking Allocation | 1.47/1,000 sq ft |
| Corridor | Interior |
AMENITIES
- Restaurant
- On-Site Bar
- Public Access Wi-Fi
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | sq ft |
|---|---|---|---|
| Guest Room | 14 | £114.00 | - |
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The Chestnuts | 52 Racecourse Rd
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