Thu, 16 Feb 2023 | COMMERCIAL PROPERTY
The Philipburn Hotel, a country house hotel in Selkirk in the Scottish Borders, has been put up for sale with an asking price of around £1.35 million. The four-star hotel is a popular wedding venue located in an area known for its countryside and wide range of rural pursuits.
The hotel is part of the Best Western Group Signature Collection Brand, with Best Western recently awarding it the Brand Ambassador Award for 2022. It is being brought to market by property agency Graham + Sibbald, acting jointly alongside Smith & Clough.
The established hotel is being put up for sale due its current owners, who have operated the business for 16 years, planning to retire. Under their ownership, the hotel has been significantly expanded and renovated, with extensions including a new function suite.
The Philipburn has 20 letting bedrooms, as well as a range of bar, restaurant, meeting and function facilities. In addition, there are gardens, an open-air pavilion for events such as weddings, a seating terrace and three two-bedroom apartments for private owner and staff accommodation.
Graham + Sibbald Hotel and Leisure Consultant Alistair Lethem commented: “The Philipburn Hotel is a most attractive property with which I have had the pleasure of being associated with for some 30 plus years. It is great to see how the hotel has developed over those years to this well-known and well-established business in the heart of the Scottish Borders.”
“Its availability gives new owners a wonderful opportunity to take over this profitable business and continue its excellent reputation and growth.”
Smith & Clough director Graeme Smith added: “Presented to an excellent standard both internally and externally, the Philipburn Hotel is a superb business with very little, if any, CAPEX required. Viewing is strongly advised to fully appreciate what is for sale, coupled with spacious owner’s accommodation, and the opportunity it offers.”
In Philipburn Hotel Limited’s most recent financial accounts, covering the year to September 30 2022, the hotel’s fixed assets were valued at £1.2 million, current assets at £238,558 and net assets at £953,407.
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