Administrators in charge of selling a historic hotel on the Isle of Bute have reported “strong interest” in the property, which is set to be sold at offers over £1.1 million.
Described as Scotland’s first grand hydropathic hotel, The Glenburn in Rothesay went into administration in August following a collapse in revenues from its enforced closure during lockdown. Glasgow-based chartered surveyors CDLH have now been appointed to manage the marketing and sales process.
Stuart Robb of joint administrator FRP Advisory said enquiries have already been received from across the UK and internationally. Any other interested parties are being asked to register with CDLH.
“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,” said Stuart Robb, partner at FRP. “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.”
READ MORE: Buyers sought for Scotland's original grand 'hydropathic' hotel
With 121 guest rooms, a ballroom, restaurants, bars, terrace, conference facilities and large terraced gardens, the property was extensively refurbished in 2016 when it was acquired by Malaysian investors. It was popular with package holiday businesses and independent travellers, but only traded briefly following the first Covid lockdown early last year before closing its doors in November.
Originally built in 1843, the Glenburn opened as Scotland’s first hydropathic hotel in 1892 after being rebuilt on a grander scale in the wake of a fire. Guests from the era travelled to Rothesay for health spas and to enjoy the therapeutic benefits of the peaceful surroundings.
The owners of the landmark property were said to be unable to survive the fall in revenue while also continuing to meet “significant” maintenance and running costs. Staff were initially placed on furlough in November, but it is thought that about 30 remaining jobs were lost in August.
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