New perspective for sea view hotel | Scottish Licensed Trade News

Scottish Licensed Trade News

New perspective for sea view hotel

Posted on by in Property

All change for business overlooking Lamlash Bay

HOTEL that benefits from impressive views of Lamlash Bay, on the Isle of Arran, has new owners at the helm following a deal brokered by property firm Christie & Co.

Located on the east coast of the island, the 13-bedroom Glenisle Hotel was taken on by its previous owners in 2008; during their tenure, the hotel was the subject of a phased refurbishment programme.

The property now comprises a 50-cover bistro, with capacity for a further 40 covers on the outdoor terrace, which overlooks the hotel’s gardens and Lamlash Bay.

There’s also 13 letting rooms, as well as an adjacent five-bedroom cottage, which is currently used by staff, and owner’s accommodation to the rear of the property.

We continue to see a growing appetite for boutique hotels across the region.

The hotel was purchased by Neil and Anne Kennedy for an undisclosed sum, from an asking price of £780,000 for the freehold.

Josh Hill of Christie & Co, who brokered the sale, said: “We knew before we began marketing the Glenisle that there would be high levels of interest as we continue to see a growing appetite for boutique hotels across the region.”

Craig Dickson, director of Christie Finance, who secured funding on behalf of the Kennedys via a high street lender, said: “The hotel sector in Scotland is in a period of growth with a number of great businesses coming onto the market so far this year.

“With our sector experience we can secure the most competitive funding for any type of business buyer.”

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