Abbotsford Lodge Hotel sold out of administration
CDLH Chartered Surveyors have completed the sale of the Abbotsford Lodge Hotel, a 14-bedroom property located in the village of Callander, for an amount above the £595,000 asking price.
The property, including a large owner’s house, staff accommodation, and a self-catering unit, was sold on behalf of Michelle Elliot and Stewart Robb of FRP Advisory, the joint administrators of Mountview Hotels Limited.
Alan Creevy, director of CDLH, said: “The company operating the Abbotsford Lodge Hotel in Callander, was placed into Administration in early 2023. CDLH were instructed by the administrators to place the property on the open market in February 2023.”
The campaign generated substantial interest, with a closing date for offers set at the end of March 2023. The property was eventually sold in July 2023, with the sale price considerably in excess the asking price of £595,000.
The new owners, Craig Gillespie and Kayleigh Keith, who have extensive experience in the hospitality sector and also operate the Tower Hotel in Crieff and the Crown in Callander, have expressed optimism about the property’s potential. The Abbotsford Hotel is set to reopen on 10 August 2023.
Mr Creevy added: “The Scottish rural hotel market has had a phenomenal year in terms of the large number of sale transactions and, indeed, strong hotel operating performance.
“We continue to see significant levels of interest in both rural and city hospitality properties with the strongest interest in hotels from overseas buyers in particular.”