Key details

Address
Self-Catering Accommodation Business, King Harald Street Apartments, Lerwick, ZE1 0DJ
Status
Under offer
Entry
By arrangement
Closing date
12:00pm Wednesday 25th August

  • receptions 1 Reception Room
  • bedrooms 2 Bedrooms
  • bathrooms 1 Bathroom
  • Energy Efficiency: C (72)

Overview

Great opportunity to acquire a very successful and very popular self-catering accommodation business comprising two very spacious, two double bedroom apartments forming part of a detached purpose-built two storey building situated in a prime central Lerwick location on King Harald Street. A quiet one-way street within easy reach of amenities.

The business is being offered for sale as a going concern with all furniture and contents included allowing the successful purchaser to hit the ground running and take full advantage of the many forward bookings already in place for this year and next.

The two bedroom / two bathroom apartments which have recently been refurbished to a very high contemporary standard, have provide popular with both tourists and business visitors alike with much repeat business.
Great investment opportunity.

General Information

The two flats at King Harald Street Apartments have provided very successful and popular self-catering accommodation since they were purpose built in 2004, attracting both tourists and business clients alike, the prime central Lerwick location being ideal for easy access to cafes and restaurants in the centre of town and other town centre amenities most of which are within easy reach on foot, Commercial Street and the small boat harbour being less than ten minutes’ walk away. There is also a pleasant walk and a free 9 hole golf course at the Knab at the bottom of King Harald Street, a stone's throw from the building.

The purpose-built apartments form part of a two storey, fully double glazed, detached building, heating being provided by electric storage / panel heaters. An extensive refurbishment programme over the past two years has just been completed updating the interiors to a contemporary modern standard, the work including fitting new oak internal doors, new skirtings, new flooring throughout the ground floor flat living spaces and bedrooms, and new flooring to the kitchen upstairs, and the living spaces and bedrooms redecorated. At the same time new double ovens and induction hobs were fitted, the kitchen worktops replaced, and new ‘Megaflo’ water tanks installed along with 49" smart TVs.

The flats are being sold fully furnished and fully equipped to a very high standard with everything included enabling the successful purchaser to hit the ground running and also take advantage of the many forward bookings already in place. Also included will be all the artwork including limited edition artwork by local artist Avril Thomson-Smith, and a supply of spare bedlinen, crockery etc. held separately by the sellers. The sellers can if required assist with a thorough handover of the business to the new owners. Further information about the business can be found at www.kingharald.co.uk, and this website will be included in the sale.

Consideration may be given to selling the flats as two separate going concerns.

Accommodation

The accommodation and details for each flat are the same although the layouts differ slightly. Details noted are for the ground floor flat 11a. Both properties have their own external front doors, the door to the ground floor flat being to the front of the building, the door to the upstairs flat being accessed via a separate external stair to the side.

The door to the ground floor flat opens to a hall laid with vinyl laminate flooring, the same flooring being laid throughout the whole of the ground floor flat, and oak internal doors to the living room, both bedrooms, the bathroom and also a handy built-in cupboard which houses the 'Megaflo' water tank.

Both bedrooms are large double rooms, one with a king size bed, the other with twin beds, the twin room being situated to the front of the building, the double to the rear, this room having an en-suite shower room with electric shower, WC and wash hand basin with mirror / shelf and light / shaver fitting over, the walls a dado rail and also the floor being tiled, and a heated towel rail is provided. The bathroom is finished to the same standard as the en-suite although has a bath with shower over.

The generously proportioned living / dining room has plenty of space for living area and a table & chairs, the wide window looking out to King Harald Street. An archway to the rear leads through to the large breakfasting kitchen with ample cupboard & worktop space including a breakfast bar, and a full range of appliances including an integral double oven and induction hob with cooker hood over as well as a free-standing fridge and freezer, dishwasher and washing machine. The window affords a view over to Breiwick Bay to the west.

Both the bedrooms to the first floor flat are carpeted and one of the rooms has a large built-in wardrobe.

Room sizes

Ground Floor Flat (11a):-

Living Room

Approx. 5m x 4.9m (16'4" x 16'0")

Kitchen

Approx. 3.4m x 3.4m (11'1" x 11'1")

Bedroom 1

Approx. 4m x 4m (13'1" x 13'1")

Bedroom 2

Approx. 4.3m x 3.75m (14'1" x 12'3")

En-suite Shower Room

Approx. 2.6m x 1.2m (8'6" x 3'11")

Bathroom

Approx. 2m x 1.9m (6'6" x 6'2")

First Floor Flat (11b):-

External

A large concreted area in front of the building provides plenty of off-street parking and there a shared lawn / drying green to the rear.

Rateable Value

The rateable value is understood to currently be £1,600 per flat. Shetland Island Council currently operates a 100% Small Business Rates Relief scheme which the current owners quality for. For further details contact the Council directly.

Property location

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Important Information for Prospective Purchasers

This schedule is intended only to help you decide whether to view the property. We always recommend you view the property personally.

The information is believed to be correct, but it is not warranted and is not to form part of any contract of sale. All dates, distances, areas and room sizes noted are approximate and for use as a general guide only. Prospective purchasers should satisfy themselves as to the working condition or otherwise of any equipment such as central heating or kitchen appliances.

This schedule should not be taken as a comment on the condition of the property. This is a matter for your surveyor and we recommend that once you have found a property you are interested in, you obtain a survey report. We can provide details of surveyors if required.

Interested parties are advised to note their interest through their solicitor as soon as possible so that they can be informed if a closing date is fixed. Noting interest does not place any obligation on the seller to set a closing date or to give any noted interests the opportunity to offer. Whilst every effort will be made to advise noted interests of any closing date set, this cannot be guaranteed.

No responsibility will be accepted for expenses incurred by parties who have noted interest but do not get an opportunity to offer, or for any expenses incurred traveling to properties which have been sold or withdrawn.

Harper Macleod were a dream to work with when marketing our home. Robert Bell was professional, timely and organised when it came to all aspects of the marketing and correspondence. He took beautiful photographs for marketing and we felt he really understood our proprieties best features and exemplified this. We would not hesitate to use Harper Macleod again in the future and cannot thank them enough for making the selling process so easy
Mr & Mrs Sjoberg
Request Viewing
Self-Catering Accommodation Business, King Harald Street Apartments, Lerwick, ZE1 0DJ

For further information and to view please telephone the sellers direct on 07733 204 048.