Private investor snaps up Stirling’s Colessio Hotel for around £6m

Colessio (exterior)

A private investor group has taken over the award-winning Colessio Hotel in Stirling, for a sum close to £6m.

The Georgian building on the road to Stirling Castle, which first opened its doors as a hotel in 2014, has been acquired by Hotel Colessio (Holdings) Limited, to be operated by Focus Hotels Management.

The 37-bedroom boutique was sold by a company headed up by Steven McLeod, who previously ran the Hotel Colessio as the founder and chief executive of the Aurora Hotel Collection.

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Now plans are afoot to invest in the hotel, with 20 bedrooms in the expansion pipeline.

Focus Hotels Management will manage the property, which already operates two hotels for the new owner.

Alongside the boutique bedrooms, The Colessio comprises a bar and restaurant grill, ballroom and conference and meeting rooms.

Alistair Letham, a director in the UK hotels agency team at Colliers International, said: “The Colessio Hotel was offered for sale on a confidential basis but attracted interest from both local (UK) buyers and a range of overseas operators and investors. The hotel’s location means it has offers great ease of access to Scotland’s main population centres and the many visitor attractions in the cities and the Highlands. Plus of course, with the hotel being located so close to the iconic Stirling Castle, makes it an automatic attractive proposition. The new owners are planning on expanding the hotel to provide additional bedroom accommodation.”

This Georgian building on the road to Stirling Castle dates from 1825 when it was originally built as a bank. In the late 19th century, it was converted to a hospital infirmary and remained in that use for 50 years, before being used as a library and offices.

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Zoe Monk

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