A historic East Neuk coaching inn with lounge bar, 34 cover restaurant, function suite and 21 bedrooms located just five miles from St Andrews, is being marketed at a guide price of £795,000 by DM Hall, one of Scotland’s leading independent firms of chartered surveyors.
The Inn at Lathones, in Largoward, by St Andrews, comprises a series of buildings some of which date back over 400 years with The Stables function venue being the oldest part. As a result, there are many period features throughout the property. Rated as a 3 Star Inn by Visit Scotland the business has a strong reputation for food with local seasonal produce being used consistently.
The property is situated on the main A915 Kirkcaldy to St Andrews road in an attractive rural setting just five miles from the renowned university town of St Andrews which is known also as the “home of golf”. As such it is draws regular trade from tourism as well as throughout Fife and beyond.
There are various extensions and additions, the Old Smithy, Coachmans, Hayloft, the Old Forge Lodges and Suites providing the letting bedrooms, with the development forming a courtyard style setting with an attractive garden area. There is a spacious two bedroomed flat, currently utilised as office/staff accommodation.
The Stables has operated as a locally celebrated music venue and it currently popular for functions including smaller weddings, celebrations and party nights. The Inn at Lathones is licensed also for civil ceremonies.
DM Hall’s client has owned the business for 20 years though it is fully managed on their behalf.
Income for the year to April 2017 was just short of £600,000 net of VAT, and on an improving trend, with income from accommodation comprising circa 55 per cent of income and the remainder from sales of food and drink. The guide price of £795,000 is for the property, goodwill, fixtures and fittings, with stock available over and above at valuation.
Suzanne Lawrie of DM Hall, who is marketing The Inn at Lathones, said: “Ownership of this successful business offers an ideal opportunity for a couple or family to operate it hands on and to develop further the income and profits currently generated.”
Viewing is strictly by appointment and arrangements can be made by contacting Suzanne Lawrie on 0131 477 6000 (option 3) or by email at firstname.lastname@example.org