Perth’s Salutation Hotel among eight establishments for sale after Strathmore Hotels administration.
One of Scotland’s oldest hotels, Perth’s Salutation Hotel, has been put on the market with an asking price of £3.75 million. The hotel is part of a portfolio of eight establishments being offered for sale following the recent administration of hotel business Strathmore Hotels.
Specialist business property adviser Christie & Co has been instructed by joint administrators James Dewar and Alistair McAlinden of Interpath to market the hotels. These properties are located across Scotland and the north of England.
The Salutation Hotel, with roots as a coaching inn dating back to 1699, has a current listed structure from around 1810. On December 31, 1745, the hotel hosted a belated 25th birthday party for Bonnie Prince Charlie.
The portfolio includes six Scottish hotels: the Alexandra Hotel in Fort William (£5.75m freehold), the Ben Nevis Hotel & Leisure Club in Fort William (£6.5m freehold), the Ben Wyvis Hotel in Strathpeffer (£3.65m freehold), the Nethybridge Hotel near Aviemore (£1.75m freehold), and the Royal Hotel in Oban (£4.85m freehold).
South of the Border, the Cairn Hotel in Harrogate is on the market leasehold with an asking price of £6m, while the Cumbria Grand Hotel in the Lake District is freehold with a £2.75m price tag.
The assets are being offered for sale as a portfolio, in part portfolios, or on an individual basis. Property experts noted that the hotels benefit from established trading positions within popular leisure and tourism destinations and offer “value-add opportunities” through refurbishment, repositioning, and active asset management.
Brian Sheldon, regional director, hospitality at Christie & Co, who is managing the sale process, said: “We are delighted to be acting on behalf of the joint administrators from Interpath, to market the eight hotels which form part of Strathmore Hotels Limited. We look forward to officially launching the sales process very soon and gauging from the initial enquiries we have received to date, we anticipate being very busy.”
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Alistair McAlinden of Interpath added: “We are pleased to be able to bring this very well-established portfolio of hotels to the market as a going concern – and we are heartened by the significant level of interest expressed in the portfolio already.”
Strathmore Hotels fell into administration in August, after experiencing sustained creditor pressure for several months, which led to a winding up petition in July.
