By Ian McConnell

THE owner of the Loch Earn Brewery Hotel has declared it is “with a heavy heart” that the property has been put on the market.

Arran Brewery is seeking offers over £775,000 for the property, with Christie & Co having been appointed as the selling agent. However, it has highlighted its view that a buyer would "need to have around" £1.5 million, given the amount which would have to be spent on the property.

It noted that the site, on the banks of Loch Earn, features 10 moorings, three piers, fishing, a brewery with the potential to brew 3500 litres per day, a “cider shack” producing batches of 1000 litres of cider, as well as a hotel with three bars, three restaurant areas, a coffee shop and 39 bedrooms.

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Arran Brewery managing director Gerald Michaluk said “It is with a heavy heart we are having to put the property on the market. We have not recovered from a small fire, following which the insurance company has still not settled our claim in full. This has led to a lack of funds while the property needs around £600,000 spent on it to bring it up to spec.

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"Unfortunately we simply don’t have that kind of money, given the current downturn in the brewing industry, to put into the building. As such we have put the site on the market for offers over £775,000 but a new owner would need to have around £1,500,000 to acquire the site and to realise its full potential."

Arran Brewery noted it had acquired the site in 2013 and purchased and installed a secondary brewery in the outbuildings "which is currently in need of commissioning".

It noted its plans had been "to build a further three buildings and open both a whisky shop and a local produce shop".

Arran Brewery said it "tried to form a joint venture with several parties on the site but in the end none of these proposals have come to fruition".

Christie & Co has noted the hotel is in need of “extensive refurbishment”.

It has declared that the locshide hotel “boasts breathtaking views over the water and surrounding highlands”.

The main building is a C-listed Victorian property.

Tony Spence at Christie & Co, who is handling the sale, said: “This sale presents a fantastic opportunity to acquire a large hotel which sits on the banks of Loch Earn and offers prospects for further development, as the property is in need of an extensive refurbishment.

“The business has been in our clients’ hands since 2013 and has proved popular with tourists as well as people passing through the village. Yet to date, it has traded to limited capacity, opening for cafe and public bar service only, as the current owners are presently focusing on other business interests.”

The £775,000-plus asking price is for the freehold.