5/24/2018 | Hotels

Charlestown hotel overlooking Firth of Forth for sale

Elgin Hotel, located in the village of Charlestown in Fife, has been brought to the market through specialist business property adviser Christie & Co.

Built in 1912, the traditional, detached two-storey hotel and wedding venue comprises 15 en suite guest bedrooms, the majority enjoying sea views, a restaurant and lounge bar for a combined 90 covers, and a function room with capacity for up to 160 guests. The Elgin Hotel also has the unique added benefit of its own chapel, with capacity for up to 70 guests, to hold wedding ceremonies at the venue as well as receptions. 

Sitting on a two-acre plot, the site enjoys extensive outside space, with two private car parks, a children’s play area adjacent to the hotel, and potential for further development as historic consent has been provided for a detached four bed cottage on the rear side of the hotel. The plot has great development potential to add an additional 40 bedrooms, and may also be of interest to residential developers, subject to suitable planning consent being granted.

Situated in an enviable position on the north shore of the Firth of Forth, the hotel enjoys views across the water and good accessibility to larger surrounding cities Edinburgh and Stirling, and the town of Dunfermline. With a strong local reputation, a new owner will be well-positioned to capitalise and build on the trade from the bustling surrounding areas and large catchment area.

The current owner, Mr Rob Wemyss, is now looking to retire, having owned and operated the business for a number of years. He comments, “I have loved running this unique hotel for the last 23 years, I will sorely miss the beautiful views of the three iconic bridges and the relaxed atmosphere. Along with my great team many of whom have been with me from the start and have supported me tirelessly over the years. I feel time has come to pass the baton to a new operator to fully develop the potential.”

Stuart Drysdale, Associate Director at Christie & Co’s Edinburgh office, who is handling the sale comments, “The sale presents a unique opportunity to purchase an established business in a popular coastal town. The business would suit an owner-operator or a group with other hotels in the area, but may also be of interest to residential developers, given the position and views over the Firth of Forth.”

The Elgin Hotel is on the market for offers in excess of £650,000 for the freehold going concern.