The Glenburn Hotel in Rothesay on the Isle of Bute has now gone up for sale after being placed in administration in August.
The 121-bedroom hotel, owned by The Glenburn Hotel Limited, is calling for offers over £1.1m.
Originally built in 1843, the Glenburn Hotel opened in 1892 as Scotland’s first Hydropathic Hotel.
The hotel was extensively refurbished in 2016 and features a ballroom, restaurants, bars, terraced gardens and holiday cottages, as well as its 121 bedrooms.
Despite the refurbishment and trading briefly since the start of the first lockdown in early 2020, it has been closed since November 2020 and went out of business altogether in August this year, citing significant operating costs, coupled with the dramatic fall in revenue due to the Scottish government’s lockdown rules.
Stuart Robb partner with FRP Advisory and Joint Administrator of The Glenburn Hotel Limited said that there has already been strong interest in the hotel with enquiries being received from across the UK and internationally.
He says: “We have been very encouraged with the level of interest already received for the Glenburn Hotel with enquiries from a wide range of interested parties. The sale presents an excellent opportunity to acquire a prominent historic building in the heart of Rothesay with extensive potential to reopen as a hotel in due course, or for redevelopment.”
“We have now appointed CDLH to manage the marketing and sales process with the price set at offers over £1.1m and would encourage anyone interested in the business to register their interest with the agents as soon as possible via Alan Creevy (email@example.com).”