Craigmonie Hotel in Inverness sold to experienced investor
Specialist business property adviser, Christie & Co has completed on the sale of The Craigmonie Hotel in Inverness, Scotland.
The well established hotel comprises 40 bedrooms, two restaurants, a popular lounge bar, various function and meeting rooms, and leisure facilities. Situated in a suburban area near Inverness city centre, the hotel is popular with both corporate and leisure guests.
Previously privately owned and operated, the hotel has been acquired by The Buxani Group, a Singapore-headquartered private real estate investment group who are now focused on building their UK hotel portfolio. The hotel will be run under management by Compass Hospitality, one of Asia’s fastest growing management companies.
Stuart Drysdale, Director – Hotels at Christie & Co who handled the sale, comments, “We were approached by the owners of The Craigmonie Hotel to undertake a discreet marketing process. A preferred purchaser was found very quickly via our strong base of registered and active buyers. The hotel has enjoyed healthy turnover levels and profits over the years and we are confident The Buxani Group will be able to build upon the historic trading levels as Inverness continues to enjoy increased visitor numbers.”
The Craigmonie Hotel was sold in a confidential, off-market transaction for an undisclosed sum.