•Substantial detached former hotel
•Asking price £165,000
•Sought after coastal location
•Vacant, potential for redevelopment (STP)
A substantial freehold property occupying a prominent position fronting Townhead Road in Dysart. The larger harbour town of Kirkcaldy is only 12 miles north of the city of Edinburgh and a short distance from the beach.
The property formerly operated as a hotel and a restaurant provides accommodation over three floors and occupies a site of approximately 0.25 acres.
The accommodation briefly comprises of a main bar, restaurant, eight letting rooms, separate function suite, owner’s accommodation, multiple WC’s and bathrooms as well as a cellar.
The property offers potential for residential redevelopment subject to the necessary planning consents, or indeed following a program of improvements, reopening as its current use.
Should the property remain as a hotel, It is envisaged the rooms can be let for an average of £50 per night, based on just 50% occupancy for just 60% of the year. This equates to a gross income of £43,800 pa representing a gross yield of 26.5%.
We understand the property to have mains electricity, gas, water and drainage. However, interested parties are advised to make their own enquires.
Freehold with vacant possession.
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Viewings are by appointment only. Please contact one of our agents on 0115 9706060 or email email@example.com