A Scottish hotel which can trace its history back about 250 years has been put up for sale, with offers over £2.5 million sought.
The 46-bedroom Royal George Hotel at Tay Street in Perth is being sold to facilitate retirement by the Anderson family, who have owned and operated the hotel business for more than 23 years, the property firm which is conducting the sale said.
Graham + Sibbald added that the hotel is a “well-established city-centre hotel showing rising turnover in 2023”.
It flagged the recent addition of a gin distillery.
Graham + Sibbald said: “Whilst The Royal George Hotel has its origins some 250 years ago, it is the current mid-19th-century property that forms the core of this special city hotel overlooking the River Tay.”
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Noting the hotel had “an extensive range of bar, restaurant, meeting and function-room facilities” as well as a small gym and games room, the property firm added: “A recent addition, in 2021, is a gin distillery and adjoining gin garden, which is proving to be popular.”
Alistair Letham, a hotel and leisure consultant with Graham + Sibbald, said: “The Royal George Hotel is [a] veritable hotel institution in Perth. But more importantly it is a very well-established business with good profitability, plus bookings for 2023 are showing an excellent growth on previous years. This is [a] wonderful opportunity for new owners, whether corporate or private, to acquire a very popular city-centre hotel property and business.”
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Graham + Sibbald said: “The Royal George Hotel has a spectacular position overlooking the River Tay and [is] located within the heart of Perth, itself at the confluence of road and rail transport, and the ‘Gateway to the Highlands’.
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“The hotel is very close to the Perth Concert Hall, an increasingly popular concert and conference venue, plus the development of the Perth City Hall as the new Perth Museum is almost completed ready for the Stone of Destiny to be housed there post the coronation of King Charles in June 2023. This attraction is expected to bring an additional 280,000 visitors to the city by the end of 2024, and is within a two-minute walk from The Royal George. Plus, of course, the nearby Perth Racecourse at Scone Palace, the UK’s most northerly National Hunt course, holds around 12 meetings annually which benefits the hotel.”
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