Perth Hospitality for Sale
Fabulous Historic 46-Bedroom City Hotel overlooking the River Tay Excellent city centre location; close to all major attractions and concert venue Recently refurbished public areas include cocktail bar, conservatory, garden room, ballroom, meeting rooms and all 46 bedrooms, completed in Spring 2025. Perth Gin Distillery located in the Hotel with adjacent "Gin Garden" Established Business with 2025 T/O £1.8m (net) forecasted
The Royal George Hotel was constructed in the mid-19th Century although its origins as a licensed hostelry dates back some 251 years. The hotel has a spectacular position adjacent to the River Tay and located within the heart of Perth, one of Scotland's more affluent cities. Perth is a vibrant and affluent city which benefits from its position as the crossroads to the Highlands and has an excellent catchment area. The Tay City deal was signed in December 2020 bringing £700m of investment to the area. Since then Perth has gone from strength to strength using the Fund to expand Perth by the Invest in Perth Board. This has included a commitment to spend money on infrastructure and further establish Perth as an excellent place to live and work. One of the major projects was a £15million spend on the redevelopment of Perth's bus and railway stations, £24m on restoring and reposition the Town Hall and a recent £31million investment by Lalique into the Glen Turret Distillery. The redevelopment of Perth's City Hall was completed in March 2024 creating the new Perth Museum which is home to The Stone of Destiny, after the coronation of King Charles. The new museum which is only a 5-minute walk from the hotel, has attracted c.250,000 visitors in its first year of opening.
Perth is also home to the award-winning Perth Racecourse, offering one of Scotland's best days out. The venue is unique and can be used for weddings, parties, events and conferences. Perth Races host over 120 events each year, which provides custom to the Royal George Hotel, and in 2025 there are 13 race meetings. We understand that the hotel benefits from 100% occupancy at every race meeting. The racecourse is located within the historic Scone Palace estate, with the latter a significant visitor attraction on the which the hotel can draw trade.
The attraction for tourists, visitors, or locals looking for a day out is easily achieved with so much to offer such as the nearby cinema, theatre, art galleries, museum and amazing entertainment venues that draw world-class performers, in the Perth Concert Hall, which is on the hotel's "doorstep". In addition, the area is also world famous for golf, water sports, horse riding, fishing and the general aesthetic beauty of Perthshire.
The area is benefitting from a significant level of investment in housing including an average of around 340 new dwellings per annum being developed within Perth until 2041. This will bring the total number of dwellings to some 28,318; Perth has an population of 47,893 (2022 Census); with excellent communications being seated on the confluence of the A9, M90, A90, A94 and A85. There is also a mainline train station and a private airport.
Regional and national flights take place from nearby Dundee Airport which is less than 20 miles away and Edinburgh International Airport is some 42 miles away.
The property is of a traditional stone construction with accommodation over 3 principal floors, plus basement/garden level and an attic conversion with dormer windows, all under a multi-pitched slate covered roof. The Royal George Hotel is located within a conservation area and is a Category B Listed Building by Historic Scotland to the George Street elevation, pictures top left. The hotel benefits from dual frontage with access both off George Street and Tay Street (overlooking the Tay River). In addition, there is a small private car park at the rear.
The property benefits from a garden area overlooking the River Tay. Within this garden area the new Gin Garden is situated which has proved to be a very valuable outdoor space for the hotel since it was launched in 2021.
Commencing in August 2024, the hotel embarked upon significant refurbishment and redecoration of the bedrooms and public areas. Focussing on a Scottish heritage style theme throughout, the works were completed by Spring 2025.
The hotel has three entrances; from the car park, from George Street and the main entrance from Tay Street, via the hotel's garden and the reception lounge areas. The accommodation comprises briefly as follows:-
All ensuite - 30 bath with shower over; 12 shower only; 4 bath with separate shower. Bedrooms are located at garden, 1st & 2nd floor levels.
Lounge Bar, adjacent to Lounge, with access leading to McGregor Lounge (40) Main Hotel Restaurant (120) - off conservatory, with River Tay outlook The Ballroom (150) - off hallway; vaulted ceiling; bar servery; dance floor 3 Meeting/Private Dining Rooms - Morning Room (30); Board Room (20); DY Cameron Studio (8) Reception lounge area, central in hotel, with reception counter and office behind Conservatory Restaurant - overlooking River Tay Sun Lounge at main entrance - overlooking River Tay
Attractive garden area to front with views of River Tay "Perth Gin Garden", located in garden, with access to Perth Gin Distillery Private car parking (appx 15) accessed off George Street 2 EV Charging Points
There is a disused staff wing of the hotel which offers significant potential for additional accommodation or development, especially as this has River views. The sellers have plans drawn for the area and we understand they are looking to demolish the building ready for development in the near future.
The basement area is leased to Perth Distillery Co. on a 10 year full repairing and insuring lease for £7,200 per annum, commenced 2021.
The business is that of a City Centre hotel offering accommodation, conference, restaurant and bar facilities to an excellent cross-section of local, corporate and leisure business.
The hotel has an excellent reputation locally driving trade as well as many direct bookings for conferences and events in the locality. In particular the hotel benefits from Perth Races, Scone Palace events including The Game Fair, The Scone Palace International Horse Trials (formerly The Blair Castle International Horse Trials) and a variety of music concerts and events. The hotel has benefits from accommodation from several multinational companies headquartered in Perth and newly opened Perth Museum, home to The Stone of Destiny. The hotel is located 15 miles North of the world famous Gleneagles hotel and is a popular venue for weddings, conferencing, funerals and private dinners and functions.
In the 3 years to September 2024, the hotel has shown steady year-on-year growth in turnover with y-e 30th September 2024 total turnover of £1,752,215 (net of VAT). With the continuing business growth, the sellers are forecasting a turnover of circa £1.8m (net) for year financial year ending September 2025.
The hotel is a well-rounded business with a good strong, diverse income stream and is a well- used meeting point for locals as well as national and international firms.
Mains water, electricity, gas and drainage are all connected to the property. The plant room includes a CHP unit producing up to 13kw of electricity as well as 4 wall mounted gas boilers producing domestic hot water for the hotel. The vendors carried out a full IT upgrade in February 2021 which included tills, computers, handheld devices and guest line res links cloud based software PMS. There are two EV car chargers in the hotel car park for guest use.
Fixed Price Offers of £2,250,000 are invited for the heritable (freehold) interest in the property, the trade fixtures, fittings and equipment, together with the goodwill of the business, which is to be sold complete as a going concern. Stock in trade to be purchased at an additional price at valuation on the date of entry.
