15 years
Considering the location and the downturn in the property market, the price seems quite exagerated :eek:
Hostel for sale in Fort William, Scotland
Buy / Sell a Hostel
I'm in no way involved with this hostel, but saw it was for sale the other day. Called Chase the Wild Goose, and is located in Fort William in the Western Highlands of Scotland. Details can be found here
Fort William's a pretty good location for a hostel, lots of events on, and near Ben Nevis, the UK's highest mountain. Not sure if it would make business sense at the price they're asking or not. The problem is (as with many other locations around the world) that the busy season you're turning people away, and in low season it's pretty dead. I've never been in the hostel, so don't know a lot about it.
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15 years
You can´t imagine how much I love the downturn already. Premium properties at a bargain everywhere. I want a crisis like that every five years, at least. :)
15 years
Considering the location and the downturn in the property market, the price seems quite exagerated :eek:
Personally I see running hostels in the UK (at least in rural areas) as a lifestyle thing - the prices of property is so high it makes no business sense to spend that amount via a bank loan to but the property and run it as a hostel - you'd be better off investing in govt bonds. It's just for people who are say selling a valuable property in the city and want a change of pace, running a hostel. After all, you have to have something to do in your life. The situation is probably different in the cities though.
14 years
As someone who supplies thousands of customers to rural hostels in Scotland, I agree they make no business sense. They are full in season and dead out of season apart from weekends. The capital cost of property in Scotland now cancels out any chance of a return on cash employed.
I have stayed out of it because of purchase prices and just work with agreements with owners, the majority of whom do it for lifestyle rather than capital return.
A good friend of mine put his up for sale a couple of years back at £795k for all the 3 separate buildings on the agents as the properties were worth more as houses than as a hostel:eek:
That said only one has sold and he still has two due to the property downturn.
I am exploring Edinburgh as I think it is possible to make a return their if you purchase at the right price
9 years
Hostel back on market. http://www.scottishbusinesscentre.com/property-for-sale/ Healthy trading. Well managed. Popular hostel near Ben Nevis.
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