All change for business overlooking Lamlash Bay
A 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.”