Bruce & Co. are pleased to announce the sale of The Knowes Hotel; a well established business that is run as a hotel, bar and restaurant. Located in an elevated location in the heart of Macduff; the hotel offers breathtaking views over the Moray Firth coast to theCaithnesscoastline. Located on the main A98, almost equidistant between Inverness (the capital city of the Highlands) andAberdeen, Macduff is strategically situated for both commuting and tourist traffic.
The business has been run successfully by the vendors Mr and Mrs Henderson for almost eight years. During this time, the hotel has become an integral part of the local community; offering guests an excellent standard of comfortable accommodation in a friendly and relaxed atmosphere. Despite its success; Mr and Mrs Henderson decided to bring their business to the market in order to spend time with their family.
The Knowes Hotel is a strategically well appointed building which is full old world charm and character, yet combined with contemporary style. The property was originally built around 1878, but the building has been updated and modernised year on year to excellent standards throughout. In fact, the building at one point underwent a major six figure refurbishment programme to further improve the property.
The business incorporates five en-suite letting bedrooms with usual room services, and four with superb views over the sea. The business also came with a bar, serving numerous varieties of spirits and liqueurs. The wedding reception/conference facility is set in a large high ceiling hall, and is equipped for more than 96 people with separate access for exclusive use. This facility was regularly used for karaoke, themed nights, functions, reception, birthdays, funeral teas and special occasions under the care of Mr and Mrs Henderson. The restaurant has a 26 cover capacity, and has magnificent views across the Moray Firth Caithness coastline, where, on a summer’s evening, dolphins can be seen swimming nearby!
The business provided potential buyers with an opportunity to acquire an exceptional lifestyle business at walk in condition, whilst having scope to grown and develop the business.
Once on the market, following an impressive sixteen viewings and six offers; the business was sold to Mr Emslie on a freehold basis for £175,000. Mr Emslie is a first time buyer who is undertaking his first business venture. The sale of the property took approximately nine months; and this is due to external issues such as the buyer having to sell his house in order to fund the business. There was also a minor issue with the licensing application; however, with Bruce & Co’s persistence, the sale was able to go through and complete. The main feature which attracted Mr Emslie to the business was the location.
Safa Sultan, Sales Negotiator at Bruce & Co. commented, “ I am really happy that we have come to a successful completion. I wish the lovely Mr and Mrs Henderson all the very best, and there’s no doubt that Mr Emslie will do will in the business!”