Thu, 04 May 2017 | COMMERCIAL PROPERTY
Singapore hotel group MGM Muthu Hotels has gained a foothold in the Scottish hotel market with the purchase of five hotels.
MGM is the new owner of Ian Cleaver’s Highland Heritage four-hotel portfolio and fleet of 16 shuttle coaches, bought for £4.5 million via hotel firm Colliers International.
The fifth hotel, a 63-bedroom site in Nairn, was purchased from a separate London-based owner. The Nairn hotel was frequented by Charlie Chaplin, who holidayed there with his family. It had been on the market since November 2015, with the sellers taking £500,000 off the asking price in a bid to tempt buyers.
Mr Cleaver, who is retiring, also owns the 15th century Kilchurn Castle, which was available separately but has not been sold. It is being run by Historic Scotland at present.
The set of four hotels includes the 96-room Royal hotel and 132-room Ben Doran hotel, both of which are in Tyndrum, the 99-bedroom Dalmally hotel in Strathorchy and the 66-bedroom Alexandra hotel in Oban.
Julian Troup of Colliers International, told The Caterer: “We are seeing an emerging trend of increased demand for quality provincial hotel opportunities from a diverse buyer set, including international investors, who have been attracted by weaker sterling and improving trading prospects.”
MHM now has 27 hotels in its wide-reaching portfolio, which includes England, Portugal, France, India, Singapore and Cuba. It also owns restaurants and theme parks.
Find a commercial property to buy.
You can subscribe here.
This company specialises in supplying the highest quality natural stone products, offering a complete turnkey solution to its customers from sourcing, through to processing, design and final distribution and delivery. Offers invited.
RELOCATABLE
Precision Engineering Business for sale operating with a modern, well equipped machine shop, offering Engineering Development Modelling (EDM), CNC turning & milling, grinding, boring and fitting. Offers invited.
LEASEHOLD
High quality practice with strong middle management on the market for the first time. Established: 25 to 30 years. Strong middle-tier management to support acquirer throughout the transition period and on an ongoing basis. Locations: Cheshire, Mersey...
|
20
|
|
Sep
|
Thomas Cook seeking 'last-ditch' fire sale | BUSINESS SALE
Thomas Cook Group is reportedly trying to piece together a l...
|
19
|
|
Sep
|
Smith & Williamson and Tilney to merge | MERGER
After revealing in August this year that talks were in place...
|
18
|
|
Sep
|
Infrastructure investment manager takes stake in LJLA | BUSINESS SALE
Infrastructure investment management group, Ancala Partners,...
Sign up to receive our acquisition alert emails to get your FREE guide
|
15
|
|
Apr
|
Huge demand for provincial UK hotels from overseas buyers | BUSINESS SALE
Overseas buyers are swooping in to buy UK hotels, as they se...
|
30
|
|
Jan
|
Famous Lake District hotel for sale at £2m | COMMERCIAL PROPERTY
A famous hotel in the North of England which welcomed guests...
|
25
|
|
May
|
Famous Lake District estate hotel put on the market for £3m | COMMERCIAL PROPERTY
Miller Howe house, one of the Lake District's most famo...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources