How to sell a Bed & Breakfast business in Scotland?

[Griff Boy]

HI All,

Im looking into selling my Bed & Breakfast business/property based in NE Scotland, and i wondered if anyone had any good recommendations on who to go to for the sale?
I have been looking at Bruce & Co. in edinburgh, but im very concerned about their reviews online, so im trying to see who else is the best agent for selling a commercial property like this? Im looking for national coverage, and someone effective who offers a complete package of advertising, photography, marketing etc, not just a cheap online £299 for 6 months type company. Equally if anyone has any actul experience of Bruce & Co then i would very much like to hear from you.

Does anyone have any suggestions, experiences that could help?

Thanks in advance

Posted in the Scotland forum as well!

[Griff Boy]

48k said:

Post some details on here or by PM cos you never know if there is a PH'er looking for an opportunity in Scotland and it might save you advertising the business.

Hi 48k, I don't want to upset the advertising rules on here, but I'll put a link to my build blog of the house refurbishment which was done in the Homes and Garden section, which may be of interest....
I'll also message you directly with some more info.

Cheers
GB

[Griff Boy]

The build thread of the house, for anyone who may be interested.

https://www.pistonheads.com/gassing/topic.asp?h=0&...

[Griff Boy]

singlecoil said:

While consdering the business transfer agent aspect, you could just advertise it yourself on

https://uk.businessesforsale.com/

where anyone looking seriously for a business to buy will be looking. You'll need to give details of what you are offering, the turnover and the price you want, and provide some decent pictures.

If you get an acceptable offer then you'll need an appropriately experienced solicitor (which you would anyway) but you might not need an agent at all.

Hi Singlecoil,

I've looked at this site, but the reviews are not overly complimentary to say the least! Being honest, none of these sites seem to get good reviews! I have a solicitor ready, so no issues there. I can certainly provide all relevant information for them, but I'm just not sure they'll give me the professional package that I'm looking for. More investigation required! Thanks for the reply though.

[Griff Boy]

singlecoil said:

I've never looked at the reviews, and can't see their relevance TBH. I can't believe that anybody looking to buy a business wouldn't be checking it and most of the big business transfer agents list on it.

If it was me then I would put the package together myself. Some good photos (not the ones from your website) and a description including some financials, prepared with assistance from your accountant if need be, and then it's up to interested parties to phone and/or visit you. I can't really see what else an agent would be doing, apart from making suggestions about value.

I'll re-look at them again and maybe try contacting a few similar ones and see what kind of response they are getting from the site. It's a niche property so I want to make sure I can approach the niche market, but all tips are appreciated! Thanks

[Griff Boy]

AB said:

Just daydreamed for a few minutes about selling everything and running a B&B in Scotland.

I'd never get it past the wife.

Ok, I'm biased.... but go for it, I say! We did.. the commute to work is great, lol

[Griff Boy]

singlecoil said:

Are you selling it as a property or a business? Which is another way of asking whether the business plus the property is worth more than the property alone? If it is worth more then AFAICS it's a business and you need to be selling it as such.

Look at it from the POV of someone wanting to buy a business. Are they going to look on all the sites such as the one I mentioned and Daltons etc, or aren't they? I've been looking for something in my area and you can bet your sweet bippy I've been looking on all of them

All good points! Its a business property, (im not being sarcastic! lol) its approx 35% business (approx 300m2) with a completely separate owners accommodation of 560m2 it is worth more as a combined property and business, which is why we are selling it as a commercial business and not as a residential property, also the issue of having two kitchens and a business incorporated in it would make it hard to get a domestic residential mortgage on it, so I believe it best sold as a business / commercial property.

[Griff Boy]

loafer123 said:

These guys are very professional;

https://www.christie.com/

Even if it is not for them, they should point you in the right direction.

Cheers loafer,

I range them yesterday, they are coming out to see us next week. Do you have any first hand experience with them?

Cheers for the reply

GB

[Griff Boy]

loafer123 said:

Yes, I have used them professionally and know one of the managing partners, and they are a good firm.

excellent, many thanks for the info, its much appreciated

[Griff Boy]

Peanut Gallery said:

As a customer of this B&B I can confirm it is a brilliant place! Really well repaired from your wonderful previous owners, and a mighty good breakfast! You have my one and only trip advisor review as well. Sad to see you sell, hope all is well!

Cheers mate!

[Griff Boy]

Snowdrop_ said:

Can I ask where this is please?

We are looking for a new venture....

Hi Snowdrop,

As peanut says, we are based in the middle of the Angus Glen's, in a cathedral city called Brechin. If you like I can send you some info? Just pm me if needed.
Cheers GB

[Griff Boy]

dmsims said:

How can you leave that beautiful house ?

It certainly won't be easy at all, a lot of blood, sweat and tears have gone into the place!