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An award-winning hotel, the Colessio Hotel, has been sold to a private investment group with plans for expansion for around £6m.
The Georgian building on the road to Stirling Castle dates from 1825 when it was originally built as a bank. It features 37 bedrooms in a boutique-style, along with bar and restaurant grill, ballroom, and conference and meeting rooms.
It has been sold by the private owners of Colessio Hotel Limited to allow them to concentrate on their other business interests.
The new owner is Hotel Colessio (Holdings) Limited, a private investor group. The hotel will be operated by Focus Hotels Management, which already manages two hotels for the same investors.
The new owners plan to invest further in the hotel to ensure quality is maintained, and subject to planning, will build a new 20-room extension.
In the late 19th Century the property was converted to a hospital infirmary and remained in that use for 50 years before being converted into a library and offices. Since 2010 the building has been restored and it opened its doors as a hotel in 2014.
Alistair Letham, a director in the UK hotels agency team at Colliers International who handled the sale, said: “The Colessio Hotel was offered for sale on a confidential basis but attracted interest from both local (UK) buyers and a range of overseas operators and investors.
“The hotel’s location means it has offers great ease of access to Scotland’s main population centres and the many visitor attractions in the cities and the Highlands. Plus of course, with the hotel being located so close to the iconic Stirling Castle, makes it an automatic attractive proposition. The new owners are planning on expanding the hotel to provide additional bedroom accommodation.”
