The subjects comprise a category C listed former Hotel, which is now in semi derelict condition, but comprises 2 adjoining stone buildings, which have a variety of extensions to the rear, including a sizeable function room. The previous owner proposed to convert the property into a range of 2 bedroom apartments on the upper floors, together with a convenience store and 2 hot food takeaway units on the ground floor. There is no planning consent for these proposals.
There have been relatively good levels of demand for development opportunities, over the last 5 years which has lessened recently due to high interest rates and construction costs. We are, however, seeing a significant increase in development enquiries over recent months as interest rate are predicted to fall towards the year end and construction costs are now stabilized.
There is a large parking area to the rear of the property. If rear extensions are demolished this could create space for a modern two storey extension providing scope to improve and extend accommodation.
Location
Dysart is an historic former mining town and former royal burgh located on the south-east coast between Kirkcaldy and West Wemyss. It is adjacent with Kirkcaldy (population of 50,000), occupying a central location within the region and has a resident population in the order of 2,500.
The hotel is located on a busy main road, which distributes traffic both eastwards to coastal villages and towns, and north to the A92, Fife Regional Road. The property is located close to many local amenities as well as Windmill Community Campus and Dysart Primary school. Dysart lies approximately two miles from central Kirkcaldy, which is a thriving town with an array of retail parks, supermarkets, cafes, bars and restaurants, plus a library and theatre. The A92 link road provides commuter access to major Cities. Edinburgh Airport is also around 35 minutes away by car.
Accommodation
We calculate that the subjects extend to a net internal area of approximately 626.5 sqm (6745 sqft).
The above mentioned stated dimensions have been calculated for agency purposes only and should be used for no other purpose whatsoever.
Terms
RATEABLE VALUE: According to the Scottish Assessors’ Association website, the subjects are noted to have a Rateable Value of £23,300 per annum.
SALE TERMS: Offers in the region of £125,000 exclusive are invited.
LEGAL COSTS: Each party will be responsible for paying their own legal costs incurred in any transaction.
VAT: All prices quoted are exclusive of VAT.
Specification
- Development opportunity
- Easily accessible location
- Private car park
- O.I.R.O £125,000