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Flodrive puts £30m portfolio of Scottish hotels up for sale
18/01/2007
Flodrive, the UK-based property business of private investor Tony Khalastchi, has put a portfolio of 11 Scottish hotels up for sale with a combined asking price of over £30m.
The hotels, which will be sold as a package, were acquired as part of 250 hotels and pubs bought out of administration by Flodrive following the collapse of the Swallow hotel group last year. Included in the package is the 56-bed Newton hotel in Nairn (pictured).
The hotels to be sold range from £1.4m to £5.5m in asking price, and will be marketed by hotel and licensed property specialists Colliers Robert Barry. Flodrive will also sell an unspecified number of properties in England and Wales.
Speaking to the Glasgow Herald, a representative from Flodrive said that a sale would only take place “if we get the right price and if staff are protected."
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