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See how verdicts work3-bedroom house · TD6 9JA
For saleListed 120 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
A full planning application has recently been granted by Scottish Borders Council for change of use.
Located within a picturesque village location, The Cross Keys Inn presents a wonderful business or residential development opportunity for a prospective purchaser.
The public house and restaurant are both well established and benefit from a great deal of passing trade and loyal customer base.
LOCATION: Lilliesleaf is an attractive village nestled in the midst of the Scottish Borders countryside, enjoying a wonderful sense of community with a village hall, pub, church and a golf course nearby.
Located only a short drive from the beautiful town of Melrose with its specialist independent shops, resting on the banks of the River Tweed and well known for its historic Abbey, the Melrose Sevens and the Borders Book Festival.
Further amenities can be found in nearby Selkirk and Galashiels, with Tweedbank providing a rail connection to Edinburgh.
The surrounding countryside and rolling hills are popular with golfers, walkers, cyclists and equestrian enthusiasts and the village location will appeal to those with an interest in country pursuits looking for a peaceful quality of life.
The Cross Keys Inn is a well-loved public house with restaurant in a fantastic village location.
The business has operated as a popular country inn with a cosy and welcoming bar and restaurant, providing fantastic traditional food and drink with the benefit of a beer garden for customers to take full advantage of the beautiful setting whilst enjoying a drink.
The Cross Keys Inn comprises bar with restaurant area and separate dining/seating area; full commercial kitchen; male & female toilets & beer garden to the front.
A full list of fixtures & fittings can be obtained upon request.
The newly refurbished first floor three-bedroom flat is very attractive, comprising lounge with dining area, newly fitted kitchen, bathroom and three bedrooms.
The property is well presented throughout and includes the following white goods - oven and hob. There is space for a additional white goods.
There is also a separate sizeable garden to the rear, which could lend itself to a further beer garden if so desired with raised decking areas and landscaping potential.
SBC PLANNING REFERENCE: 26/00230/FUL RATEABLE VALUE: £8400 EPC: Flat F Bar G FLAT ROOM SIZES: Kitchen: 2.95m x 2.70m Lounge: 5.40m x 4.90m Bedroom One: 4.50m x 3.30m Bedroom Two: 4.30m x 3.20m Bedroom Three: 2.15m x 2.40m Bathroom: 2.50m x 1.90m
Value & comps
Land Registry doesn’t cover Scotland or Northern Ireland, so previous sales may not be on record.
Returns
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Short-let licence or registration needed
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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FAQ
About Cross Keys Inn and Flat, Lilliesleaf, Melrose, TD6 9JA
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