Ben Wyvis Hotel in Strathpeffer acquired by Strathmore Hotels from Crerar
11 July 2019With a guide price of £2.5 million for the freehold property and business, the Ben Wyvis Hotel has been acquired by the family-run Strathmore Hotel Group.
The deal was brokered by Colliers International, who acted on behalf of the Crerar Hotel Group.
The 92-bedroom hotel, which also offers a large bar and restaurant and cinema room, is situated at the heart of the Highlands.
The hotel has been acquired by Strathmore Hotels, owned and run by the Rickard family. The Ben Wyvis adds to Strathmore’s seven other assets in an impressive growing collection.
Julian Troup, Head of UK Hotels Agency at Colliers International, commented: “We have found that the whole of Scotland has increased in popularity in the last three or four years; the main drivers have come from both overseas buyers and the national growing confidence in resident buyer’s belief in the security of the hospitality industry.
“Crerar Hotels have continued to retain Colliers International to assist in disposing of further potential hotels within their portfolio”
He added: “This continues our success in 2019 for the hotels team at Colliers and follows another strong performance during 2018 when we sold or acquired 97 hotels throughout the UK.”
Chris Rickard of Strathmore Hotels said: “I have been a long-time admirer of Crerar Hotels and I am delighted that we are able to add the Ben Wyvis to our portfolio. A special thanks to Mr Crerar and Colliers for their professionalism throughout the process – and my gratitude also to Euan Tripp at Brodies LLP and Craig Smith at Handelsbanken for their support as always.’’
Paddy Crerar CBE, chief executive of Crerar Hotel Group, commented: “Colliers brought a number of no-nonsense professional parties to the table, all with the ability to transact and deliver at the level we required; allowing a very straight forward and practical process that fulfilled our expectations to every degree.”
Mr Crerar added: “The sale of the Ben Wyvis is another key milestone in our right-sizing strategy - the capital released by the sale will be fully reinvested in our core properties taking us even closer to achieving our aim of being Scotland’s highest quality family of hotels and inns.”