Offers Over £795,000

12 bed commercial property for sale in Denholm

Auld Cross Keys Inn, Main Street, Denholm, HAWICK, TD9 8NU
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Property highlight: Popular Inn set in Charming Border Village

The subjects comprise a traditionally built hotel providing 12 letting bedrooms with bar, restaurant and function space. The property is constructed of stone beneath a pitched slate roof and is arranged over ground, first and attic. The property has been extended to the rear with a flat felt roof containing the restaurant, kitchen and function suite, plus a further building over ground and first with harled exterior which inter-connects to the main building. Externally, there is a south-facing patio area and beer garden which is a real sun trap in the summer months.

  • Auld Cross Keys Inn

    The subjects comprise a traditionally built hotel providing 12 letting bedrooms with bar, restaurant and function space. The property is construction of stone beneath a pitched slate roof and is arranged over ground, first and attic. The property has been extended to the rear with a flat felt roof containing the restaurant, kitchen and function suite, plus a further building over ground and first with harled exterior which inter-connects to the main building. Externally, there is a south-facing patio area and beer garden which is a real sun trap in the summer months.

  • Features

    • Immaculately presented, extensive 12-bed hotel • Situated in the picturesque village of Denholm, 3 miles east of Hawick • Function space, lounge bar and south facing beer garden • Cosy public bar and restaurant/popular takeaway service • Ranked 4.5 ‘Excellent ‘on Trip Advisor • On site biomass boiler which dramatically reduces running costs • Held under same ownership and management since 2004

  • Location

    Denholm is a particularly charming and popular village nestled in the valley of the River Teviot approximately 6 miles west of Hawick and 7 miles east of Jedburgh. Scotland’s capital city, Edinburgh, is around 50 miles north-west accessible within an hour’s drive via the nearby A68 – a principal road connecting Scotland with the north of England. The Auld Cross Keys Inn commands a central position on Denholm’s Main Street overlooking the historic village green, around which Denholm was laid out in the 17th century. There are splendid views of the foothills of Ruberslaw from the rear of the property. There is a selection of independent shops, cafés and restaurants in the village with a larger array of amenities available in Hawick.

  • Accommodation Summary

    • 12 letting rooms comprising a mixture of double, twin, disabled friendly and family rooms with en-suite facilities • Public bar • Lounge bar • Restaurant and function suite • Commercial kitchen with freezer room and washroom • Ladies and Gents WCs • Storerooms • Beer garden and patio 7 of the bedrooms are within the main building with a further 5 contained in the inter-connecting building as described above.

  • Measurements

    Ground Floor 340.16 sqm First Floor 49.34 sqm Attic 55.84 sqm Interconnecting Building 96.08 sqm Total 541.42 sqm

  • Trade

    The Auld Cross Keys Inn has been held under the same careful ownership for the last 17 years. Starting with just two letting rooms the owners have gradually developed the property into what it is today. From the initial warm welcome to the high-quality meals and impeccable cleanliness, the hotel has an excellent reputation amongst locals and visitors alike. Trip Advisor shows four and five-star ratings from over 380 reviews; 9.0/10 on Booking.com from over 160 reviews and 4.6/5 stars on Google from over 270 reviews. The hotel offers 12 letting bedrooms. The rooms are generally let for between £65 per night for a single/twin bedroom and £100 per night for a double bedroom, including breakfast. Occupancy levels are generally good. A large spacious dining area caters for private dinner parties in the patio room which leads out onto the south facing beer garden. Meals are served in the dining room, lounge, public bar or beer garden with a mix of Scottish themed dishes and pub classics, as well as chef specials on the menu. The Sunday Carvery is very popular as is the takeaway service introduced in response to Covid boosting food sales turnover following an enforced period of closure. The public bar is very popular with locals and boasts two hand pulled cask conditioned ales, a selection of traditional beers as well as an array of spirits and over 40 malt whiskies. There is pool table, open fire- place and a wall mounted TV for showing live sport. The two bars account for around 40% of the business turnover and barrelage reports for 2017-2020 can be produced on request. Trade is predominately generated from tourism due to Denholm’s central location in the Scottish Borders and its close proximity to the North of England. The area is a draw for people wishing to explore outdoor pursuits as well as catering for locals too. Significant investment has been made in the property over the term of ownership, including the addition of a biomass boiler which has reduced heating bills to a minimal amount. Most recently, the owners have acquired upgraded televisions for each of the rooms and a new pizza oven which has proved to be very popular. Business turnover was impacted because of the coronavirus pandemic but stood at around £585,000 in 2018. Following the enforced closure of the hospitality trade, the business has begun to bounce. In the period from 1 April 2021 (hotels were permitted to reopen from 26 April) to 31st July 2021 a net profit in excess of £110,000 was recorded on sales of £178,400.

  • Staff

    There are currently 5 full-time staff, including a hotel manager, with a number of part-time support staff. The current owners take an active role in the day to day running of the business but are now seeking to retire. will be in effect.

  • Licence

    The premises benefits from a Premises License under the Licensing (Scotland) Act 2005.

  • Utilities/Services

    Main drainage, electricity and water are all connected to the property. Heating and hot water is provided by an on-site biomass boiler. It was installed by the current owners and the Renewable Heat Incentive (RHI) gives 100% return on heating costs, is transferable to new owners and runs until December 2034 which means there is no cost for the wood pellets supplying the boiler. The property also has the benefit of a burglar alarm.

  • Energy Performance Certificate

    The Energy Performance Certificate rating is available on request.

  • Rateable Value

    According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have been entered into the valuation roll at £37,500. The uniform business rate for the current year is £0.49 pence in the pound.

  • Tenure

    Heritable interest.

  • Price

    Offers over £795,000 are sought for the heritable property, the trade fixtures and fittings, furnishings and equipment, together with the goodwill of the business to be sold complete as a going concern. Stock in trade will be purchased at an additional price at valuation at the date of entry.

  • Offers

    Each party shall be responsible for their own legal costs incurred in connection with the transaction with the eventual purchaser liable for any LBTT and VAT thereon.

  • Finance/ Business Mortgages

    To assist parties expressing an interest in purchasing our client’s property, introductions can be made to specialists involved in the provision of business finance and commercial mortgages in Scotland.

  • Viewing

    A virtual tour is available on Hastings Legal- You Tube. Please view this before booking a personal viewing. The Home Report can be downloaded from our website www.hastingslegal.co.uk or requested by email enq@hastingslegal.co.uk Alternatively or to request further information call 01573 225999 -lines open 7 days a week including evenings, weekends and public holidays.

  • Price & Marketing Policy

    Offers over £795,000 are invited and should be submitted to the Selling Agents, Hastings Property Shop, 28 The Square, Kelso, TD5 7HH, 01573 225999, Fax 01573 229888 or email enq@hastingslegal.co.uk The seller reserves the right to sell at any time and interested parties will be expected to provide the Selling Agents with advice on the source of funds with suitable confirmation of their ability to finance the purchase.

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Borders at a glance*

  • Average selling price

    £224,123

  • Median time to sell

    24 days

  • Average % of Home Report achieved

    105.9%

  • Most popular property type

    2 bedroom house

To find out more about the local market, contact Hastings Legal today.
* Figures are based on properties marketed and sold through ESPC. Home Report valuations relate to properties where the Home Report was available on espc.com. Figures relate to the 3 month period ending on 28/02/2022

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* School catchment data is provided for information purposes only and ESPC UK Ltd does not accept any responsibility for the accuracy or completeness of the data. You should always contact the local authority responsible for the provision of education in a property's location, and more information on particular school catchment areas can be found via the links here.