Some of the most idyllic smaller hotels in Scotland are attracting multiple offers as the rural hotel and guest house sector experiences what one agent describes as an unprecedented level of activity.
Several leading licensed specialists are complaining of a dearth of properties coming on to the market and those which do are achieving more than the asking price.
''Businesses which were sold 18 months ago are changing hands again at closing dates for, in some instances, 30% more than what had been paid,'' said Brian Sheldon of Christie & Co in Glasgow.
''We are seeing cash positive purchasers who have sold their properties in various hotspots flocking to Scotland to take advantage of the picturesque locations. Offering lifestyle living, these businesses are easily affordable and offer value for money in comparison to the properties they have sold.
''Examples of recent sales include the Lochearnhead Hotel, which sold after a short marketing campaign and attracted 34 viewers. A closing date was set, generating six offers, with the property selling in excess of the asking price.
''There are distinct signs that this activity will continue as many businesses new to the market are going under offer very quickly.''
Two of the best known hotels in Largs, Brisbane House and Priory House, have been sold on behalf of the Maksu Group by David Reid of Christie in what is claimed to be the largest ever hotel deal in the seaside town. Priory was on the market at (pounds) 975,000 and the Brisbane is significantly larger, with function facilities.
Jim Whitelaw, managing director of the buyers, LAW properties Ltd, said: ''I sold a large part of my pub estate last year and was looking for a new challenge. I have a huge fondness for Largs, will be stamping a personal mark on the hotels and plan to be involved in their development. I am looking to buy a home in the town.''
The Edinburgh office of Robert Barry & Co has sold two small hotels to buyers from the south of England. Navidale House in Helmsdale in Sutherland, set in six acres of land in a coastal cliff-top location with views south across the Moray Firth, has not traded for the past three years but was on the market at (pounds) 250,000. The country house style property in walk-in order has 15 bedrooms, five in an annex, and has been bought by Laurence and Florence Seale who owned a hotel in Northamptonshire and plan to re-establish the business.
Another licensed property in the same price range was the Royal Hotel in Dysart, Fife, on the road to the East Neuk, which has been sold by Gerry Furze to Craig Williamson, who is moving north from Ayrshire to take over the eight-bedroom establishment. It also has a public bar, lounge, restaurant and function suite and acts as a centre for the community.
Robert Barry has also sold the Grampian Hotel in Perth on behalf of local hotelier Eddie Anderson, who will now concentrate on his other business, the Royal George. The new owner is former Killin Hotel proprietor Alan Garnier who brings with him his experienced management staff. The plan is to fully refurbish the Grampian, which is on one of the main routes into the city centre and has 13 bedrooms, lounge, restaurant, function room and conservatory.
In Glasgow Creevy LLH, the largest independent dealing solely with the licensed sector, has concluded the sale of the Tempo Bar on Elderslie Street,
within three months of bringing it to the market. The cafe bar in the Park area has an open-plan bar with seating for 85, with a further 24 in the conservatory, and the price is said to be significantly above the asking premium of (pounds) 120,000.
''The sale was conducted on a strictly private and confidential basis,'' said Peter Darroch, director of Creevy.
Creevy is also claiming success in regenerating business for the Brae Hotel in Shetland. A management company MDP Hotel and Leisure was put in place until a buyer is found and has increased sales by about 50% to around (pounds) 10,000 a week.
The 36-bedroom hotel with restaurants, bars and function room as well as four semi-detached houses is close to the Sullom Voe oil terminal and is on the market at (pounds) 295,000.
In the heart of the Cowal peninsula, the Kilfinan Hotel has been acquired by Patricia and Michael Cresdee from Wokingham in Berkshire, who intend to cater for weddings. There is a church nearby dating back to the thirteenth century and a local minister prepared to marry couples on the beach.
''The hotel itself has lots of history and dates back to 1760, with wonderful old bedrooms,'' said Adam Lansdown of Robert Barry. ''It is the right size for family occasions such as birthdays, anniversaries and Sunday lunch.'' The property, set in attractive grounds, was upgraded by previous owners the Otter estate, and has 11 rooms, two bars, restaurant and bistro, along with a separate three-bedroom house.
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