Fife’s Michelin-starred restaurant with rooms, The Peat Inn, is up for sale, after nearly two decades under the care of Geoffrey and Katherine Smeddle.
Built in the 18th century, in the countryside between Cupar and St Andrews, The Peat Inn has a 250-year history of hospitality, having previously served as a coaching inn, hotel and pub.
Owned and operated by the Smeddles since 2006, the restaurant has held a Michelin star since January 2010.
The business is being sold very much as a successful going concern, with the Smeddles stressing that, despite recent struggles in the wider hospitality sector, their restaurant has remained successful.
The decision to sell was, they said, very much down to that fact that they had achieved all they had hoped for with the business, and after 19 years felt it was the right time to pass it on to a new owner.
The restaurant is based around three intimate dining rooms, which serve around 50 covers. Under the Smeddles’ ownership, the building has undergone ‘sensitive’ modernisations and refurbishments, whilst retaining original features including a feature fireplace in the reception area.
The property also offers eight luxury letting suites, as well as a four-bedroom owners’ home, landscaped gardens, and a private car park.
Managing the sale are Christie & Co, where Simon Watson said: “We are delighted to be appointed to work with Geoffrey and Katherine Smeddle on this prestigious assignment.
“The Peat Inn is one of the most established and celebrated venues in Scotland and can continue to be so in new hands.
“It has been a ‘go to’ restaurant for many from the area and internationally, be it for celebrations or business, and a buyer may well be a previous customer who will now be able to have the prestige of owning this iconic venue.”
In a statement to their many social media followers, Geoffrey and Katherine said: “We have been privileged to be custodians of this special property and welcome you all for nearly twenty years, following David and Patricia Wilson who did so for over thirty years before us.
“It was always Geoff’s dream to own his own restaurant and to win a Michelin star and after 19 years, we feels these boxes are well and truly ticked!
“While the business is robust, successful and vibrant, it feels like the right moment to consider a different avenue. We look forward to handing the baton on to someone in the future who will, we are certain, welcome you all as we and the Wilsons have done for over half a century.”
The Peat Inn is on the market freehold – price on application to Christie & Co.
