Three properties are offered to buyers as a portfolio
An expanding multiple operator or investor might be interested in three hotels in the north of Scotland that are now on the market.
The Ben Wyvis Hotel in Strathpeffer, the Craiglynne Hotel in Grantown-on-Spey and the Eight Acres Hotel in Elgin are being sold as a portfolio with an asking price of £6.85 million.
Owner Crerar Hotels has taken the decision to focus on a core group of properties after its principle shareholder stepped back from the business, which has led to the company selling a number of hotels.
The Ben Wyvis is a 92-bedroom country house hotel set in “extensive grounds”, while the Craiglynne Hotel has 83 bedrooms and additional buildings currently used as staff accommodation.
The 52-bedroom Eight Acres Hotel is described by selling agent Colliers International as having an “extensive leisure complex and large restaurant”.
The forecast group net turnover for the three hotels is in excess of £4.1m, according to Colliers.
“These three magnificent hotels form a rare opportunity to acquire an outstanding small but diversified portfolio, and would make a fantastic Scottish base to establish a strong group of hotels,” said Julian Troup, head of UK hotels agency at Colliers International.
“Whilst all are already well regarded hotels with a healthy trading base, each offers clear scope for further revenue and profit growth, and each has a distinctive market within the various tourist hot-spots of the north east.
“Our instructions are that while the three properties are available as a group and have been priced to reflect a collective discount, consideration may be given by our client to individual disposals based on the level of offer and deliverability being at an attractive level.”
