New owner sought for waterfront hotel | Scottish Licensed Trade News

Scottish Licensed Trade News

New owner sought for waterfront hotel

Posted on by in Property

Prominent Oban accommodation business for sale

A waterfront hotel in Oban has come onto the market through licensed property agents Colliers International.
Occupying a prominent seafront position in the town centre, close to the main railway station and ferry terminal, The Oban Caledonian Hotel overlooks Oban Bay to the Island of Kerrara and beyond in an area described as the gateway to the Hebrides.
Given its location on the waterfront, the hotel is said to not only benefit from local trade but also high volumes of leisure guests and passing trade.
The property comprises 59 letting bedrooms and “an excellent range of bar, lounge, restaurant and kitchen facilities”.
Currently run by a hotel management company, the property’s investment owners have decided to place the hotel on the open market.
The property is expected to attract a high level of interest from potential buyers, especially given its location close to the main ferry terminal and railway station.
“The Caledonian Hotel has a great location in the centre of Oban, which itself is a perennially popular leisure destination,” said Alistair Letham, a director in the UK hotels agency team at Colliers International.
“While the business is already well established with a good turnover, undoubtedly there is opportunity for new owners, skilled in operating a locally-based leisure destination, to develop the Caledonian and further increase its profitability.”
The hotel is on the market with a guide price of offers around £1.2 million.

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