The Royal George Hotel is for sale through Graham + Sibbald. Located with the heart of Perth, one of Scotland’s more affluent cities it was constructed in the mid-19th Century. The hotel has a spectacular position adjacent to the River Tay. Perth is a vibrant and affluent city which benefits from its position as the crossroads to the Highlands and has an excellent catchment area. The Tay City deal was signed in December 2020 bringing £700m of investment to the area. Since then Perth has gone from strength to strength using the Fund to expand Perth by the Invest in Perth Board. This has included a commitment to spend money on infrastructure and further establish Perth as an excellent place to live and work. One of the major projects was a £15million spend on the redevelopment of Perth’s bus and railway stations, £24m on restoring and reposition the Town Hall and a recent £31million investment by Lalique into the Glen Turret Distillery. The Town Hall development will bring the Stone of Destiny back to Perth, after the coronation of King Charles, which is expected is to bring an additional 280,000 visitors to the city by the end of 2024.
Perth is also home to the award-winning Perth Racecourse, offering one of Scotland’s best days out. The venue is unique and can be used for weddings, parties, events and conferences. Perth Races host over 120 events each year, which provides custom to the Royal George Hotel, and in 2023 there are 12 race meetings.
The attraction for tourists, visitors, or locals looking for a day out is easily achieved with so much to offer such as the nearby cinema, theatre, art galleries, museum and amazing entertainment venues that draw world class performers, in the Perth Concert Hall, which is on the hotel’s “doorstep”. In addition, the area is also world famous for golf, water sports, horse riding, fishing and the general aesthetic beauty of Perthshire. The area is benefitting from a significant level of investment in housing including an average of around 340 new dwellings per annum being developed within Perth until 2041. This will bring the total number of dwellings to some 28,318; Perth has an estimated population of 46,660 (2020); with excellent communications being seated on the confluence of the A9, M90, A90, A94 and A85. There is also a mainline train station and a private airport.
The property is of a traditional stone construction with accommodation over 3 principal floors, plus basement/garden level and an attic conversion with dormer windows, all under a multi-pitched slate covered roof. The Royal George Hotel is located within a conservation area and is a Category B Listed Building by Historic Scotland. The hotel benefits from dual frontage with access both off George Street and Tay Street (overlooking the Tay River). In addition, there is a small private car park at the rear.
The property benefits from a garden area overlooking the River Tay. Within this garden area the new Gin Garden is situated which has proved to be a very valuable outdoor space for the hotel since it was launched in 2021.
*Fabulous Historic 46-Bedroom City Hotel overlooking the River Tay
*Excellent city centre location; close to all major attractions & concert venue
*Full range of bar, restaurant, function, meeting room facilities
*Perth Gin Distillery located in the Hotel with adjacent “Gin Garden”
*Located within 2-minute walk of forthcoming Perth Museum, home to The Stone of Destiny
*Established Business with T/O on target to exceed £1.55m (net); Excellent Profit