Christie + Co has racked up another successful hotel transaction, with the sale of a well-known hotel in the famous golfing town of Carnoustie.
The Station Hotel has been owned and managed by the same family for more than 50 years, and is situated five minutes’ from the world-famous Carnoustie golf course.
The hotel comprises 12 bedrooms, a lounge bar, coffee lounge, public bar and restaurant, plus a 120-cover function room and has been sold by Ivor and Kathryn Farmer and Evelyn Christieson, who have decided to retire from the business.
The new owners are two local businessmen who have been looking to expand and diversify their existing business and purchased the property off an asking price of £925,000.
Ken Sims, director at Christie & Co’s Edinburgh office brokered the sale and comments: “The Station Hotel has delivered strong and consistent growth over many years, and represented a highly attractive opportunity for a buyer seeking a solid business producing a good return.
“There is a strong regular local business from all surrounding areas with a high level of repeat trade. In addition to the local trade, there are also golfers staying in nearby guest house who frequently eat in the hotel restaurant, causing a steady dining trade.”