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Description

Beautifully presented, top quality, fully licensed 4 Star Restaurant with Rooms. Spectacular coastal setting with panoramic seaward views. Strong turnover and impressive profitability from current season trade. Exceptional "Business and Lifestyle" opportunity.

DESCRIPTION
The Creel is a popular and renowned, fully Licensed Restaurant with the added benefit of three most comfortable letting bedrooms. The present proprietors have owned and run the business for over 20 years, during which time they have enjoyed the successful and rewarding lifestyle that accompanies ownership of a business of this stature. The successful formula found at the Creel is no mystery, the reputation stems primarily from top quality cuisine which is prepared from fresh, locally sourced produce. Adding to this are the exceptional setting, magnificent seaward panorama, smart restaurant facilities and high quality accommodation. These come together to form the most successful business that exists today. Another strength of The Creel is its all round appeal, the business attracting strong support from both locals and tourists alike. Demand for both restaurant reservations and accommodation bookings consistently outpaces capacity during the busy summer months such is the popularity of the business, yet, by choice the Restaurant only opens for trade in the evening - offering the opportunity for new owners to capitalise upon a buoyant lunchtime demand.

The Creel is found in St Margaret’s Hope towards the south of The Orkney Islands which are located just off the northern tip of Scotland, and consist of an archipelago of 70 or so islands and skerries. The islands are home to around 19,000 islanders, who enjoy an enviable quality of life, amidst stunning and varied scenery, all bounded by the ever-changing sea.
Besides abundant wildlife, Orkney holds possibly the greatest concentration of archaeology in NW Europe, including the unique Neolithic village of Scara Brae, and the group of sites clustered around the Ring of Brodgar, and known as Orkney’s Neolithic Heartland, which was granted World Heritage status by UNESCO in 1999.

In addition to exploring the fascinating history of the islands, visitors can enjoy both the vibrant contemporary culture, or a wide range of activities including excellent fishing, birdwatching, golf, climbing, walking and sailing, though many merely chill out amongst the peaceful ambience of the islands or partake of a dram of award winning Malt Whisky at Highland Park, Britain’s most northerly Malt distillery.

Over 200,000 people use the excellent air and sea links to visit Orkney every year, a significant number of these arriving on the car ferry which docks several times daily at the St Margaret’s Hope pier, virtually on the Creel Restaurant’s doorstep.

The present proprietors have owned the Creel since 1985, running the business on a seasonal basis to suit their own trading preferences. During this period they have built up a solid core of repeat trade and have forged friendships with many regular guests. The owners have decided to relocate to be closer to their immediate family which brings this desirable and highly profitable business opportunity onto the market.

THE PROPERTY
Enjoying a tremendous sea-front location, The Creel is a solid, substantial property which has been well maintained over the years. Of traditional construction the property is stone built under a slate roof with more modern extensions and a lesser area of flat roofing which has recently been renewed. The building benefits from modern double glazing throughout and has accommodation laid out over three floors.

PUBLIC AREAS
From the front of the building which overlooks the bay the Restaurant’s main protective outer door opens into the vestibule which immediately reflects the quality of the property with its attractive Orkney slate flooring, made from stone quarried in nearby Sandwick. In turn the vestibule leads into the more open inner hall which displays an impressive range of awards and accolades which prove testament to the pedigree of the business. Off the Inner Hall to the right is the smaller of the two Dining Areas. This, more intimate space with beautiful seaward panorama seats up to 16 and in addition to evening dining makes a popular breakfasting room for overnight guests. The character of the property is enhanced by the Orkney slate floor which is continued through these areas. To the left off the Inner Hall is the main Restaurant area which accommodates 36 covers. Tables and seating are flexible, providing for a wide combination of individual table numbers or for a banqueting style lay-out. Again, the main restaurant enjoys exceptional views and has the benefit of a smart and well appointed bar servery area to the rear of the customer area which offers a good choice of fine wines, spirits and minerals not forgetting the popular Orkney beer and local “Highland Park” malt. To the rear of the smaller dining area is a warm and relaxing Lounge in which guests and diners can enjoy pre-dinner drinks or perhaps coffee and liqueurs after their meal. A rough hewn stone floor and an assortment of traditional high backed Orkney chairs give this room great character.

LETTING BEDROOMS
The Creel has 4 Letting Bedrooms to sleep 8 guests. On the first floor there is one triple bedroom with en-suite facilities, a further suite consisting of a double bedded room, single bedroom and private bathroom and finally one double bedded room with private facilities on the second floor.

PRIVATE ACCOMMODATION
The proprietors do not presently live on the premises; however, there is an unused area on the second floor which could be converted into owners’ accommodation.

SERVICE AREAS
The Creel benefits from a particularly well-equipped and spacious Commercial Kitchen with separate wash-up area complete with top quality dish and glass washing system. A further spacious preparation are adjoins the kitchen with vegetable storage, dry storage and ample fridge / freezer capacity.

GROUNDS
The business site in an exceptional position with un-obscured sea views and has a small private garden to the rear, mainly laid to grass.

SERVICES
Mains electricity, water and drainage. Propane Gas. Oil fired Central Heating.

LICENCES
The business has a full Restaurant Licence.

TRADE
Trading figures for the year to 31st May 2006 show a turnover of £162,075 net of VAT generated from the current restricted seasonal trading pattern. These produce a strong net profit of £63,305 before motor costs, finance and depreciation.

DEVELOPMENT POTENTIAL
There is significant scope for active new owners to expand this profitable business. The Creel is currently run on a purely seasonal basis, by choice, offering new owners the opportunity to extend this period or indeed to open year-round. The proprietors advise that there is a significant demand for lunchtime fayre, a market which they have not chosen to cater for. With the smart bespoke facilities offered by the restaurant there is little reason to doubt that lunchtime opening would prove highly popular, successful and indeed profitable.

PRICE
Offers over £285,000 are invited for the heritable property complete with goodwill and trade contents (according to inventory), excluding personal items. Stock at valuation.

FINANCE & LEGAL SERVICES
ASG Commercial is in touch with several lenders who provide specialist finance to the hospitality trade. We will be delighted to discuss your financing requirements with you and make an appropriate introduction.

We have a large team of legal experts in-house and can act in all legal matters arising to include Conveyancing and Licence Transfers.

DIRECTIONS
The Orkney Islands are well serviced by three ferries which run from Caithness in the north of Scotland. Two ferries depart from Gill’s Bay and John O’Groats on the mainland, arriving right at St Margaret’s Hope itself. The third ferry runs from Scrabster to Stromness on Orkney. An alternative is to fly to Kirkwall airport, only 15 miles away.

VIEWING
All appointments to view must be made through the vendors selling agents:

OFFERS
All offers should be submitted in writing to ASG Commercial with whom purchasers should register their interest if they wish to be advised of a Closing Date.