UK: Luxury Scottish serviced apartment business Inverness City Suites has relaunched to market with a guide price of £3.6 million.
Inverness City Suites comprises 11 individually titled apartments, made up of 10 two-bedroom and one one-bedroom units, all with fully equipped kitchens and laundry facilities.
The business has relaunched to market with Savills and Drysdale & Company. It has been independently owned and operated since 2011.
Roy Dinnes, proprietor of Inverness City Suites, said: “Having enjoyed a lifetime of building businesses, the directors are keen to leave the world of work behind in favour of a world of leisure. Inverness City Suites is a fantastic business, performing exceptionally well on its own or a great addition to an existing portfolio.”
Steven Fyfe, director of hotels in Glasgow at Savills, said: “Inverness has long been known for recurring, year-on-year strong operating performance, and those savvy investors have secured investment property that is delivering exceptional return profiles when compared to other key regional gateway cities. The subjects represent another great example of a robust income at an attractive yield, and we expect a relatively swift sale process.”
Stuart Drysdale, managing director of Drysdale & Company, said: “This is an exceptional opportunity to acquire a high-performing portfolio of 11 serviced apartments in the heart of Inverness – the capital of the Highlands and a year-round tourism hotspot. The business is extremely profitable, benefiting from consistently high occupancy and premium nightly rates, while being remarkably easy to manage with minimal staffing requirements.
“With Inverness continuing to grow as a key destination for both domestic and international travellers, this turnkey operation presents a rare blend of strong returns, operational simplicity, and long-term growth potential,” Drysdale added.
Highlights:
• An 11-unit portfolio under the Inverness City Suites brand has relaunched to market for £3.6 million
• Owned and operated independently since 2011, the owners are retiring from business.
• Savills and Drysdale & Company are joint agents for the sale
