A privately-owned Singapore-based investment group has acquired its second property in the UK to build on its plans to create a portfolio in this country.
The Buxani Group has snapped up The Craigmonie Hotel in Inverness, Scotland, a 40-bedroom hotel with two restaurants, a lounge and meeting room facilities.
The property, which was sold in a confidential, off-market transaction for an undisclosed sum, will be managed by Compass Hospitality.
Compasss also manages GoGlasgow for the Buxani Group, which marked the company’s first UK property when it was acquired earlier this year.
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.”
Led by founder Kishore KJ Buxani, the Singapore-based Buxani Group is a private investment group established in 2003.