Castlecary Hotel sold to experienced hotel operator
Specialist business property adviser, Christie & Co has brokered the sale of Castlecary Hotel in the village of Castlecary with funding secured through specialist commercial finance broker, Christie Finance.
This traditional Scottish hotel offers 52 letting bedrooms, restaurant and suite facilities for functions. The business has been owned by Mr K McMillan for over 40 years and due to his retirement plans the business was placed for sale.
The new owners of the business are Mohinder Singh, his wife Kashirmo and son Ranjit. The family have over 17 years experience in the hotel sector and will be running this alongside their other hotel business the Sandyford Hotel in Sauchiehall Street, Glasgow.
Brian Sheldon, Regional Director in Christie & Co's Glasgow Office who brokered the sale comments, "There remains a strong appetite for hotels such as the Castlecary and as a result we had various enquiries. We were aware at the time of the Singh's desire to acquire such a hotel and as a result we were able to broker the deal very quickly."
The new owners were keen to utilise the services of Christie Finance again after using them previously to arrange funding for the purchase of the Sandyford Hotel. Craig Dickson, Director at Christie Finance said, "The Singh Family are a great fit for this business and the Castlecary Hotel will benefit from their years of experience managing a hotel business. It's always wonderful to help a returning client and place them on the best funding deal to help their business grow further."