Hotel changes hands for just third time in 250 years
A SOUTH west hotel has changed hands for just the third time in two and a half centuries
Local hoteliers Jim and Helen Stewart bought the Murray Arms Hotel in Gatehouse of Fleet for an undisclosed sum from a guide price of £495,000. Located in the centre of the Dumfries and Galloway village, the three-star hotel, which is said to date from 1760, has 12 en suite letting bedrooms. There’s also function and meeting rooms, a restaurant and bars.
Colliers International’s Adam Lansdown, who marketed the property with Seymour & Cink, said the hotel has operated successfully for many years.
“We are delighted by the range of interest shown in the Murray Arms Hotel throughout our sales campaign and, by persistence, patience and flexibility, a well-balanced and commercial sale has been achieved,” he said.
“This is further evidence that sales of hospitality businesses are happening and, due to our specialist experience in this market, we are getting new instructions daily of good hotel stock, which is of interest to both experienced hoteliers and newcomers to the industry.”
One such business the agent has just added to its books is Overscaig House Hotel near Lairg in Sutherland.
Located on the banks of Loch Shin, to which the hotel has access and riparian rights, the property is set in six acres and has eight letting bedrooms, a lounge bar and a 26-cover dining room overlooking the loch. There’s also private owner’s accommodation.
Current owners Martin and Jan Fraser have upgraded the hotel during their seven-year ownership.
Colliers International’s Alistair Letham, who is marketing the property with a guide price of £425,000, said the hotel “ticks all the boxes of a quintessential lifestyle business”.
“A wilderness has myriad definitions and the Loch Shin area, where Overscaig House Hotel is located, is truly a Scottish wilderness whilst being easily accessible as it is just over an hour’s drive from Inverness,” he said. “This well-established, seasonal hotel business provides a rewarding income to complement the outstanding lifestyle location.” Meanwhile, operators seeking a business in the Fife area might be interested in a hotel Colliers is currently marketing in conjunction with DM Hall.
The Murray Arms (top pic) has changed hands while a new owner is sought for Overscaig House (directly above).
Located in the village of Falkland, Luigino’s has a lounge and bar restaurant, three en suite letting rooms and two one-bedroom flats. Letham said the business, which is on the market at offers over £285,000, is currently closed after it ceased trading. “Luigino’s is well-located in popular Fife where a regular flow of summer business and income is almost guaranteed,” he said. “The business was well known as the Covenanter Hotel and new owners should consider reinstating the property’s former name, when re-opening this delightful small business.”