AN Edinburgh hotel has changed hands in a deal brokered by Bruce & Co.
The Argus Hotel, close to the capital’s Haymarket train station, was acquired by Portal Holdings after being owned for the last 16 years by John and Yvonne Mallace, who operated the business on a bed and breakfast basis.
The Victorian property, which dates from 1870, has 11 letting bedrooms, a 20-cover dining room, a commercial kitchen and other service areas, including a laundry room. There’s also owner’s accommodation.
Bruce & Co said the property attracted a high level of interest leading to 49 viewings from potential buyers before being sold on a freehold basis for £690,000.
“We are very pleased to have come to a successful sale completion,” said Bruce & Co’s Jayne Adamson.
“We wish Mr and Mrs Mallace all the best for their retirement, and wish Portal Holdings all the best with their new investment.”