Market for accommodation businesses remains buoyant
The market for accommodation businesses in Scotland remains buoyant, with property agent Christie & Co currently marketing a range of hotels and having recently brokered a number of sales across the country.
Businesses currently on its books include a hotel opportunity in the north east town of Fraserburgh, and, at the opposite end of the country, The Gordon Arms Hotel in the Borders village of West Linton.
The Gordon Arms Hotel, which is on the market due to the current owner’s wish to retire, comprises four en suite letting rooms, a lounge bar, public bar and restaurant, along with a decked beer garden; there’s also two-bedroom owner’s/manager’s accommodation.
Tony Spence, hospitality business agent at Christie & Co, which is marketing The Gordon Arms Hotel at £495,000 for the freehold, said: “Opportunities to purchase a well-performing business in the Scottish Borders such as this are rarely available.
“The business operates as a popular country hotel with four en suite letting rooms and provides fantastic traditional food and accommodation.”
In Fraserburgh, the property firm is marketing the leasehold of a vacant hotel development.
The Mid Street property has 11 bedrooms, a fully-fitted kitchen and a café and reception area which can accommodate 20 covers.
The owners are currently developing phase two of the project in the adjacent building, which is due to be completed in spring 2023 and will create a further five en suite bedrooms, a 42-cover restaurant and a large bar/bistro.
Spence at Christie & Co said: “This is a unique opportunity to lease a newly developed hotel within the town centre of Fraserburgh. The property would be well-suited to an experienced owner-operator or couple, with the fully-fitted commercial kitchen allowing the new operators to also trade via a cafe/restaurant operation on the ground floor.”
Christie & Co also recently brokered the sale of Dunkeld House Hotel in Perthshire (pictured) to a consortium comprising a UK-based financial investor and hotel operator.
Set in 280 acres of woodland overlooking the River Tay, the hotel has 98 bedrooms; restaurant, bar and lounge areas; and a spa and health club. It was sold on behalf of investment firm Downing, which was part of the team that acquired Dunkeld House in 2016 and embarked on the refurbishment and repositioning of the hotel.
Jeremy Jones, head of hotels brokerage at Christie & Co, said: “Already highly profitable, there are a number of further asset management opportunities which the buyers are keen to undertake,” he said.
“Customer demand for hotels with such magnificent settings will never disappear and are likely to continue to grow in the years ahead.”
