The Glenburn Hotel Limited marketed for sale at offers over £1.1m
The Glenburn Hotel Limited in Rothesay on the Isle of Bute, which owned the historic Glenburn Hotel and which was placed in administration in August this year, is to be marketed for sale at offers over £1.1 million.
Stuart Robb, partner with FRP Advisory and joint administrator of The Glenburn Hotel Limited said that there has already been strong interest in the hotel with enquiries being received from across the UK and internationally.
Originally built in 1843, the Glenburn Hotel opened in 1892 as Scotland’s first Hydropathic Hotel. The hotel was extensively refurbished in 2016 and features around 121 guest rooms, ballroom, restaurants, bars, terraced gardens and holiday cottages.
Mr Robb said: “We have been very encouraged with the level of interest already received for the Glenburn Hotel with enquiries from a wide range of interested parties. The sale presents an excellent opportunity to acquire a prominent historic building in the heart of Rothesay with extensive potential to reopen as a hotel in due course, or for redevelopment.
“We have now appointed CDLH to manage the marketing and sales process with the price set at offers over £1.1m and would encourage anyone interested in the business to register their interest with the agents as soon as possible via Alan Creevy (email@example.com).”
The administration had been caused by unsustainable cash flow problems arising from a combination of increased operating costs and a collapse in revenue due to the pandemic with the hotel being closed since November 2020.