Popular hotel up for sale — with a £1.3m price tag
ONE of Inverclyde’s most longstanding and popular hospitality businesses has been put up for sale for more than £1m.
The family-run Inverkip Hotel has been put on the market by its owners as they look to sell up after almost 50 years in charge.
Offers in the region of £1.3m are being sought for the business, including its restaurant, pub, whisky bar and beer garden.
Estate agents have billed it as an ‘outstanding opportunity’, highlighting the property’s proximity to the busy Inverkip Marina and the new Ardgowan Distillery which is currently being built.
They say the accounts of the business are ‘outstanding’ with turnover in excess of £1.3m producing 15 per cent profits.
Alistair Hardy, the representative of the family owners, said: “Despite hospitality facing several difficult Covid years, our business has performed remarkably.
“It is very telling of this sound and stable business - regardless of economic factors people always need their local and we are fortunate to have the monopoly of hotel offering from Greenock to Largs.
“Currently room occupancy sits at 72 per cent and the business is consistently exceeding pre-Covid levels across food and beverage.
“After 45 years running the business, my wife and I look to fully retire and embrace our next chapter.
“It is with great pride that we have been the custodians and raised our family in this very special historical place.
“The current management team have incredible vision and ambition for the opportunities awaiting this business.”
Leading property firm Graham & Sibbald are handling the sale.
Peter Seymour, their director of hotel and leisure, said: “The family are looking for an investor to take this business to the next level, and build on the wonderful reputation that they have taken the time and effort to sustain.
“They hope that the amazing team they have built will flourish alongside the prospective new owner.”
The sale announcement says: ‘The renowned Inverkip Hotel boasts an exceptional property, seamlessly blending traditional Scottish architecture with contemporary comforts.
‘The hotel’s exterior is immaculately presented, offering an inviting entrance which exudes warmth and character.
‘The interior is equally as impressive, combining traditional features with functional modern design across both guest and operational spaces.
‘The hotel is an exemplary example of Scottish hospitality, possessing an authentic and very special charm found only in a rare number of businesses of this type across Scotland.’
The hotel has been a popular venue for locals for decades and Graham & Sibbald say that it represents an ‘an enticing investment opportunity within the thriving tourism industry of Inverclyde’.
They added: ‘The hotel has established a strong reputation and a loyal customer base, attracting visitors from near and far throughout the year.
‘The restaurant, public bar, whisky bar and beer garden appeal to a broad market of guests, as well as the five well-appointed bedrooms.
‘The business is in exceptional condition with industry leading figures, a loyal and experienced team and accounts that represent resilient growth despite the Covid pandemic.
‘The growth and success of the business has in no doubt come from the attractiveness of the traditional setting and as its coastal village location, as well as the stellar reputation of the family run business within the local community and further afield.’
The Hardy family say they would like to thank their ‘continually loyal team, local community and guests for always being so supportive and journeying so many chapters with them’.
They added that they look ahead positively to the opportunities that the change of ownership will bring for the business.