Hotel business in Fife village of Freuchie changes hands
A COACHING inn that is said to date back to the 18th century has been sold by one experienced licensed trade couple to another.
The Lomond Hills Hotel, located in the Fife village of Freuchie, was marketed jointly by Colliers International and Cornerstone Business Agents on behalf of well-known Fife licensees Ronnie and Faye Dick.
Wishing to concentrate on other business interests and developments, as well as retire from the licensed trade, the couple sold the Fife hotel business to new owners, Alex and Jan Wallace.
Ex-pats who have recently returned from Abu Dhabi, the Wallace family has been involved in hotels and pubs throughout Stirling for several years.
They’ve taken on the Lomond Hills Hotel, which comprises 24 letting bedrooms, a bar, restaurants, lounges and a function room.
The hotel also has a leisure facility complete with swimming pool, jacuzzi, sauna and gym.
Alistair Letham, a director in the UK hotels agency team at Colliers International, said the property “is a well known village hotel in a good location in Fife”.
“The full range of facilities and the good number of bedrooms are all complemented by the addition of the leisure facility,” he said.
“This ensures the hotel is an attraction to a range of tourists and visitors, locals and commercial custom.
“Alex and Jan Wallace have the comfort of knowing that they are taking over a well-established and popular business that undoubtedly will bring them success.”
The purchase price for the hotel business was not disclosed, but selling agents Colliers International, acting jointly with Cornerstone Business Agents, confirmed it was close to the asking price of offers around £845,000.