Auld Cross Keys Inn, Denholm

Commercial Retail Property 

For Sale

Offers Over £795,000

  • 5 public
  • 12 bed
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About the property

The Auld Cross Keys Inn has been held under the same careful ownership for the last 17 years. Starting with just two letting rooms the owners have gradually developed the property into what it is today. From the initial warm welcome to the high-quality meals and impeccable cleanliness, the hotel has an excellent reputation amongst locals and visitors alike. Trip Advisor shows four and five-star ratings from over 380 reviews; 9.0/10 on Booking.com from over 160 reviews and 4.6/5 stars on Google from over 270 reviews.

The Property

•Immaculately presented, extensive 12-bed hotel
•Situated in the picturesque village of Denholm, 6 miles east of Hawick
•Function space, lounge bar and south facing beer garden
•Cosy public bar and restaurant/popular takeaway service
•Ranked 4.5 ‘Excellent ‘on Trip Advisor
•On site biomass boiler which dramatically reduces running costs
•Held under same ownership and management since 2004

Location

Denholm is a particularly charming and popular village nestled in the valley of the River Teviot approximately 4.8 miles west of Hawick and 7 miles east of Jedburgh. Scotland’s capital city, Edinburgh, is around 50 miles north-west accessible within an hour’s drive via the nearby A68 – a principal road connecting Scotland with the north of England.

The Auld Cross Keys Inn commands a central position on Denholm’s Main Street overlooking the historic village green, around which Denholm was laid out in the 17th century. There are splendid views of the foothills of Ruberslaw from the rear of the property.

There is a selection of independent shops, cafés and restaurants in the village with a larger array of amenities available in Hawick.

Measurements

According to our recent measurement survey the premises contain the following approximate gross internal areas:

FloorSq MSq Ft
Ground340.163,661
First49.34531
Attic55.84601
Inter-connecting building96.081,034
TOTAL*541.425,827

*A breakdown of floor areas/rooms sizes is available on request

Staff

There are currently 5 full-time staff, including a hotel manager, with a number of part-time support staff. The current owners take an active role in the day to day running of the business but are now seeking to retire. TUPE will be in effect.

Licence

The premises benefits from a Premises License under the Licensing (Scotland) Act 2005.

Utilities

Main drainage, electricity and water are all connected to the property.

Heating and hot water is provided by an on-site biomass boiler. It was installed by the current owners and the Renewable Heat Incentive (RHI) gives 100% return on heating costs, is transferable to new owners and runs until December 2034 which means there is no cost for the wood pellets supplying the boiler.

Energy Performance Certificate

Pending.

Rateable Value

According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have been entered into the valuation roll at £37,500. The uniform business rate for the current year is £0.49 pence in the pound.

Tenure

Heritable interest.

Price

Offers over £795,000 are sought for the heritable property, the trade fixtures and fittings, furnishings and equipment, together with the goodwill of the business to be sold complete as a going concern.

Stock in trade will be purchased at an additional price at valuation at the date of entry.

Offers

Each party shall be responsible for their own legal costs incurred in connection with the transaction with the eventual purchaser liable for any LBTT and VAT thereon.

Finance Business Mortgages,

To assist parties expressing an interest in purchasing our client’s property, introductions can be made to specialists involved in the provision of business finance and commercial mortgages in Scotland.

Viewing

By appointment through the Joint Agents, Allied Surveyors Scotland and Hastings Legal.
A virtual tour is available on Hastings Legal - YouTube. Please view this before booking a personal viewing. Alternatively, or to request further information or register your interest, call 01573 225999 - lines open 7 days a week including evenings, weekends and public holidays.
Contact Allied Commercial on 0131 357 445 Director Iain Mercer 07713 626 887.

Price & Marketing Policy

Offers over £795,000 are invited and should be submitted to the Joint Selling Agents, Hastings Property Shop, 28 The Square, Kelso, TD5 7HH, 01573 225999, Fax 01573 229888 or email enq@hastingslegal.co.uk The seller reserves the right to sell at any time and interested parties will be expected to provide the Selling Agents with advice on the source of funds with suitable confirmation of their ability to finance the purchase.

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