The Glenburn Hotel on sale for over £1.1m
The hotel, which was placed in administration in August this year, was ‘extensively’ refurbished in 2016 and features around 121 guest rooms, ballroom, restaurants, bars, terraced gardens and holiday cottages.
The Glenburn Hotel in Rothesay on the Isle of Bute, has been brought to market for a price of over £1.1m.
The hotel, which was placed in administration in August this year, was “extensively” refurbished in 2016 and features around 121 guest rooms, ballroom, restaurants, bars, terraced gardens and holiday cottages.
The administration was 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.
Stuart Robb, partner with FRP Advisory and joint administrator of The Glenburn Hotel Limited, stated that there has already been strong interest in the hotel with enquiries being received from across the UK and internationally.
He 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.”
