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Carmelite House 30 Low Street, Banff, Banffshire, Aberdeenshire, AB45 1AY

£350,000

1

Key Information

Tenure:Not available
Council tax band:Not available

Key Features

Prime Trading Location
9 Letting Rooms
2 Bed Owner’s Accommodation
Private Car Park
Freehold
Potential Alternative Use
Offers over ÂŁ350,000

Description

Carmelite House is a charming Georgian B listed property situated in the heart of Banff, offering a prime location for a thriving hospitality business. This well-established hotel/guest house boasts 9 spacious letting rooms, 7 with en-suite facilities, spread across four floors. The property retains many original features, including high skirting and ceiling cornicing, whilst offering modern amenities throughout. The ground floor comprises a welcoming reception area, a spacious resident's lounge, and a breakfast/dining room with 24 covers, complemented by a fully equipped galley kitchen. The first and second floors house the letting rooms, each individually decorated and well-presented. The owner's accommodation, located on the first floor, includes two bedrooms, with the master featuring an en-suite. Additional rooms are available in the floored attic area. The lower ground floor, accessible from both the reception area and separate external doors, offers potential for development. It currently houses the owner's private lounge, office, laundry room, WC, a former bar area, and a workshop/storage room. Externally, the property boasts a well-maintained front garden with a large storage area underneath. To the rear, there is ample private parking for up to 8 vehicles, a patio area, and a spacious fenced garden with potential for additional self-catering units, subject to planning permission. Carmelite House enjoys an enviable location in Banff, within walking distance of the seafront, golf course, woodland walks, and the River Deveron. The town offers a wide range of amenities, including shopping, leisure facilities, schools, and healthcare. Excellent transport links provide easy access to Aberdeen, Peterhead, and Inverness. This profitable business, currently operating as a B&B for 6 months of the year, presents significant opportunities for expansion. Potential avenues include restoring year-round trading, reintroducing lunch and evening meals, reinstating a full alcohol licence, and developing the rear garden for additional accommodation options.

Situation
Carmelite House enjoys a prime trading location in the centre of Banff and benefits from its prominent trading location, yet it is only a short walk to the seafront, golf course, woodland walks and the River Deveron. Situated just off the main through road, the A98, a major coastal road in the northeast of Scotland, the property is well serviced with excellent road and public transport networks and offers easy access for Aberdeen, Peterhead, and Inverness.
The town offers a wide range of services and amenities including shopping, business, and leisure facilities, together with primary and secondary schooling and health care facilities. National retailers exist alongside specialist shops and there is a library, museum, sports centre, swimming pool and championship golf course.
Banff is the perfect base for exploring the surrounding area of Aberdeenshire with its outstanding scenery, host of historical, cultural, outdoor and leisure pursuits. On offer are rolling countryside, idyllic beaches, rugged glens, championship golf courses, salmon and sea trout fishing, Whisky Trails, seaside towns, market burghs and turreted castles. The area boasts the most extensive and diverse tourist trade.
The hospitality industry remains a high value and sustainable sector in Banff with the northeast being a popular destination. Demand for short, weekend and long stay break accommodation is high and Carmelite House is ideally situated to take full advantage and meet these requirements.
Business
Carmelite House is a long-established hotel/guest house that has been owned and run by the current proprietors for over 28 years. This is an easily managed business that is operated by the owners currently without the need of any staff. The Hotel status under legislation does not require the short term letting licence, nor required to pay business rates.
The proprietors are now moving to retirement with the business currently trading for only 6 months of the year on a B&B basis only. (Previously operated as a licensed hotel open all year round.) The business attracts a mix of tourists, golfers, salmon/sea trout fishers and business contractors working in the area. In total there are 9 letting rooms, 7 with ensuite facilities and 2 with shared facilities.
This profitable business boasts excellent trading figures with high occupancy levels during peak season.
There is considerable scope to expand the business
• Restore year-round trading
• Restore lunches and evening meals
• Restore full alcohol licence
• Utilise the rear garden for additional self-catering accommodation (eg glamping pods)
Property
This B listed Georgian property is split over four floors, the property has been well maintained and presented throughout having retained many original features such as high skirting and ceiling cornicing. Entering through the front door at ground floor level, leading to the spacious hallway with reception area and stairs leading to the upper floors of letting rooms.
From the reception area, you access the large spacious resident’s lounge, breakfast/dining room with 24 covers and a fully equipped and well-maintained galley kitchen.
The hotel benefits from 9 spacious letting rooms located on the first and second floors consisting of a mix of room types. These bright rooms are well presented and have been individually decorated offering modern features including 7 rooms with En-Suite shower rooms. A separate shared shower room and WC are available for the two letting rooms without En-Suite facilities.
The owner’s accommodation which occupies part of the first floor comprises a spacious 2 bedrooms, with the master being an En-Suite. From the owner’s accommodation area, access is gained to the floored attic area where there are a further 2 rooms.
Access to the lower-ground floor can be gained either from reception area or separate external doors (front and back). This currently houses the owners private lounge, office, laundry room, WC, the room previously used as a bar and a workshop/storage room. There is great scope to develop this area.
External
A well-maintained garden is located to the front of the property with a large storage area (dungeon) under the garden.
At the rear there is the large private parking area (for up to 8 vehicles), patio area and washing-line area. Beyond these, lies a large fenced garden area comprising of patio area, decking area, large vegetable plots and grass area (this would be suitable for additional self-catering units – subject to planning permission).

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Property Calculators

Mortgage

Estimated Monthly Mortgage Payment:
ÂŁ1,751 /mo.25 Years, 4.5% Interest
Loan
ÂŁ315,000
Total Repay
ÂŁ525,262

Commercial Land & Buildings Transaction Tax (LBTT)

You’ll have to pay the LBTT of:
ÂŁ6,000
0% up to ÂŁ150,000
1% between ÂŁ150,000 and ÂŁ250,000
5% above ÂŁ250,000
Your effective LBTT is 1.71%

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