Prominently positioned in a prime location between St Andrews and Dundee on the main thoroughfare
19th Century B Listed building extending over 3 floors boasting approximately 3639 sq ft.
Gig House with approved planning permission for Self-Catering accommodation
Currently thriving on wet sales only, with substantial potential for expansion
Fantastic investment opportunity
Ye Olde Hotel presents a unique opportunity to acquire an iconic and prominent building, serving as the community's focal point, with a rich history under only two ownerships since 1903. Ye Olde Hotel enjoys a prime location just 5 miles from St Andrews and is for sale due to the owner's retirement.
Business Overview:
A well-established family run business, under the ownership of the Hendersons since 1969, this enterprise has flourished on a wet sales basis. With untapped potential for growth by introducing food and accommodation, the property is primed for further development. The property benefits from previously approved planning permission and Listed Building consent for internal layout alterations. These include a commercial kitchen, new toilets and a restaurant to add to the investment appeal.
Premises Overview:
Ye Olde Hotel, an iconic Grade B 19th Century listed building comprises:
Ground Floor: Two public bars with traditional features, gents' toilets, refrigerated beer cellar and spirit store.
First Floor: Ladies' restroom, owner's lounge, modern domestic kitchen and four bedrooms
Second Floor: Two additional bedrooms, box room and bathroom.
External: Ample parking space with a covered seating area.
Additional Considerations:
- Adjoining gig house with planning permission for self-catering accommodation.
- Potential availability of additional land and buildings through separate negotiation.
Location and Connectivity:
Leuchars benefits from excellent transport links including an airfield for private aircraft and a railway station on the main East Coast Aberdeen to London line. The town also enjoys excellent bus links between St Andrews, Dundee and Cupar. Leuchars' strategic location on the Fife Coastal and Fife Cycle Paths attracts many walkers and cyclists, which coupled with the nearby presence of the British Army and ongoing infrastructure investments enhances its appeal.
Market Dynamics:
- Over 500,000 visitors visit the St Andrews area annually, with golf and the university being the main attractions. St Andrews is renowned as The Home of Golf, with The Open being played every 5 years. Visitors flock to play and watch golf with over 20 courses within a 20-minute radius of Leuchars.
- The new housing development (300+ houses) and Eden Campus housing for St Andrews University personnel in Guardbridge (one mile) have significantly increased footfall. Eden Mill distillery opening in Summer 2024 is expected to attract an additional 30,000 visitors annually to the area.
- New housing development within Leuchars is expected to commence imminently adding to the growth in the area.
Educational and Military Significance:
St Andrews University's global recognition combined with the historical ties to the British Army and the Royal Air Force stationed at Leuchars adds to the town's significance. Ongoing government investment and restructuring in the military sector indicate a secure and positive future for Leuchars Station, which is to benefit from an investment of £252 million.
To summarise, this unique opportunity to acquire a historically significant property strategically positioned in a thriving community with diverse growth avenues, merits careful consideration and has to be viewed to realise its full potential. We welcome interested parties to explore this potential investment further.
IMPORTANT NOTICE
Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.
