Castlecary House Hotel on the market after 40 years
The Castlecary House Hotel, located near Cumbernauld, has been put up for sale with specialist business property adviser Christie & Co.
The hotel is currently operated by Kenny McMillan, who has owned and run the Castlecary House for over 40 years.
The extensive licensed hotel comprises 52 letting bedrooms, two lounge bars, and an extensive first class function suite which is very popular for weddings, conferences etc. There is a newly formed garden area which is ideal for wedding photography. In addition there are also a number of detached buildings of modern construction providing 'cottage' style letting en suite bedrooms.
Due to its close proximity to the M80 the hotel benefits from good occupancy rates throughout the week for those travelling for business or leisure. Next to the main hotel building with access via its own entrance is the Poachers Lounge & Wee Bar, the hotel 'pub'. The hotel also benefits from a large car parking area.
Brian Sheldon, Director of Christie & Co who is handling the sale commented: "Sadly, due to changing circumstances, Mr McMillan has decided to place the Castlecary House Hotel on the market, and we are delighted to have been appointed to sell such a great property and business.
“In recent months we have seen an increase in interest in Scotland as a hotel market, particularly from global investors who, post-EU referendum, see areas of the UK outside of London as more attractive.
“With the hotel market specifically, over the last two years, we have seen a shift in attitudes with more investors who had previously concentrated solely on residential and office opportunities now considering hotels. With numerous factors contributing to the boost in the hospitality trade in Scotland, this is a prime focus for those seeking guidance on the best opportunities, and I have no doubt that a hotel of the Castlecary House’s quality will be seen as a great opportunity for operators and investors alike.”
The Castlecary House Hotel is on the market with Christie & Co, price on application.