Five Scottish hotels sold to Singapore group MGM

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.


Share this article



Latest Businesses for Sale

Elderly Care Home
Essex, South East, UK

Old Age and Dementia Care Home, Essex – Registered for 27. Care home registered for 27 service users within the categories of old age and dementia care. The home has benefited from an extensive refurbishment programme, since then the home is rapidly...

Asking Price: £895,000
Turnover: £389,821

Care Home
West Midlands, UK

Care home in convenient West Midlands location, registered for 38 residents specialising in dementia care. This attractive and highly reputable home features all single bedrooms. Our client has owned the business since the early 1990's and has chosen...

Asking Price: £2,200,000
Turnover: £1,018,560

Fish & Chips Takeaway
Cornwall, UK Wide

A very successful fish and chip takeaway enjoying a prominent and highly visual trading location in the south Cornwall town of Helston. Well-appointed takeaway area with 7-pan gas range, adjoining retail area, storage and preparation rooms. Spacious...

Asking Price: £675,000
Turnover: £365,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
28
 
Jan
 

Fairstone completes double acquisition | BUSINESS SALE

Tyne and Wear-based consolidator Fairstone Financial Managem...

 
27
 
Jan
 

Amigo founder puts company up for sale | BUSINESS SALE

Amigo founder James Benamor has put the subprime lender up f...

 
24
 
Jan
 

Hawkin’s Bazaar enters administration | ADMINISTRATION

Norwich-based novelty toy retailer Hawkin’s Bazaar has...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
02
 
Dec
 

Administrators put cut price Bicester boutique hotel up for sale | BUSINESS SALE

The Manor, a 32-bedroom hotel near Bicester, Oxfordshire, ha...

 
26
 
Nov
 

Monmouthshire country hotel changes hands | BUSINESS SALE

A popular country hotel at the gateway to the Brecon Beacons...

 
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...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources