Eight Continents acquire Scottish Highlands hotel steeped in 300-years of history through Christie & Co
Specialist business property adviser, Christie & Co is delighted to announce Taychreggan Hotel in Argyll, Scotland has been sold to Eight Continents Hotels & Resorts. Christie & Co’s sister company, Christie Finance secured funding for the purchase.
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Steeped in 300-years of history, this 18-bedroom boutique hotel is set on a former cattle drovers inn in the heart of the Scottish Highlands, with stunning views across Loch Awe.
The property was previously part of an international group of high-quality hotels and came to market as the owners, who wish to remain private, were looking to focus their management time on their other locations in the USA and Scotland.
Commenting on their decision to list the hotel through Christie & Co, they said, “We wanted a best-in-class agent with the experience of handling high end sales and able to deal with international as well as UK buyers.”
The sale was brokered through Gary Witham, Director in Christie & Co’s Scottish Hospitality team, who comments, “This is an award-winning property set across 39 acres, that was looking for an ambitious purchaser with the vision to take it forward as a leading destination hotel. We are delighted to have found this in Eight Continents and look forward to seeing their plans for the hotel come to life.”
The directors of Eight Continent Hotels and Resorts Ltd also instructed Craig Dickson at Christie Finance to arrange funding, to swiftly follow on from the all-equity purchase of the hotel.
Craig comments, “This was Eight Continents’ first acquisition in Scotland, where they had been looking to purchase for some time. They approached me to navigate the current complex lending market, often particularly tricky as new entrants, and secure funding to quickly release equity for future projects, after being let down by another broker. We were able to put together a comprehensive pack of supporting information for lenders, including a detailed business plan and cashflow forecasts, which went a long way in securing credit approved terms. I worked closely with Gary at Christie & Co to ensure the vendors were kept updated throughout the process and this helped put their mind at ease that we were all pulling in the same direction. The company has exciting plans for the Taychreggan Hotel and I have no doubt they will take this already successful business from strength to strength.”
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For further information on this press release, contact:
Bronte Hughes, Corporate Communications Manager
P: 020 7227 0794 or E: bronte.hughes@christie.com
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