Commercial Development
An iconic building set within picturesque surroundings and providing a superb development opportunity to possibly convert into 12 apartments (subject to necessary consents) with a reported GDV in excess of £2.4m. The new owner could also look to renovate the building and return it into a Boutique hotel. Situated in the centre of Glenfarg, the hotel is an imposing castellated building with crow-stepped gables.
A four storey and attic building with accommodation over 5 levels comprising 16 en-suite bedrooms, 2 bars, restaurant, function suite, kitchen, 4 bedroom owners accommodation, 2 offices, cellar and store rooms. Externally there are garden areas and private car park to the rear.
We have been informed that planning permission was previously agreed for 12 apartments which may now have expired and prospective buyers are advised to make all necessary independent enquiries of the local Council in this respect prior to placing their bid as this will be binding.
The development once completed may provide a range of twelve private flats arranged over three floors and lower ground level.
Lower Ground - 1 x 2 Bedroom Garden Flat
Ground Floor - 3 x 2 Bed Flats and 1 x 1 Bed Flat
First Floor - 3 x 2 Bed Flats
Second Floor - 2 x 2 Bed Flats and 1 x 1 Bed Flat
Second & Attic - 1 x 2 Bedroom Duplex Flat
Estimated GDV from previous valuation is £2.4million
The hotel is situated in Glenfarg, a small town in the Perthshire countryside, where a number of walking routes are close by. This is also a popular area for golfers and golfing enthusiasts.
The picturesque and historic village of Glenfarg lies in the Ochil Hills in the rolling countryside of Perthshire. Nestled between the town of Kinross (a 15-minute commute) and the vibrant city of Perth (a 20-minute journey) Glenfarg offers unrivaled country living. The area boasts outstanding natural beauty with the River Farg flowing through the village, which is dotted with period properties. Glenfarg has a well-stocked village shop, a garage, village hall, public park, tennis courts, bowling club, community gardens and a primary school.Situated just off the M90 motorway, The Glenfarg is a 20-minute drive from Perth. There is free on-site parking available, and historical Edinburgh is a 45-minute drive away.
The Glenfarg is a late 19th century building.
See Legal Pack. Vacant possession upon completion.
Auction Details
This property is located in Scotland; therefore, any sale will be governed by applicable Scottish law.
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (Scotland).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms (Scotland).
Auction Deposit and Fees
The following deposits and non- refundable auctioneer’s fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of 3.6% of the purchase price (subject to a minimum of £4,800 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of Land and Buildings Transaction Tax.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack and Home Report.
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
