A flurry of recent major licensed deals in Scotland has demonstrated the buoyancy of the Scottish Licensed Trade market. Many of these deals are being struck by new or relatively new Scottish companies, which are beginning to build up impressive portfolios of properties enabling them to compete head on with established corporates and English-based chains.

Typical of this trend were the sale of three Stakis Hotels through Christie & Co to three fast emerging hotel companies. The Stakis Glasgow Airport, which was marketed at an asking price of #8m, was quickly acquired by Cosmopolitan Hotels.

Edinburgh firm Queensferry Hotels successfully purchased the Stakis Falkirk Hotel of an asking price of #3.25m, while another Edinburgh company, In Leisure Scotland, bought the Stakis Watermill Hotel in Paisley of an asking price of #1.25m.

Out of a portfolio of eight properties which Stakis was selling, the company decided to withdraw five and rebrand them in the upper four-star category.

''We believe the fact that these three Scottish hotels were successfully sold is another indication that there are quality buyers in the Scottish market,'' said Christie's Glasgow manager David Reid.

He said: ''Another sign of the buoyancy of the Scottish market is the response we have received to the news that the 70 en suite bedroom Seaforth Hotel in the remote location of Stornoway is on the market. Within a week of announcing the sale we have already arranged a handful of viewings, which shows that if properties are well priced, we can still attract buyers even in what appear to be remote locations.

''In the 10 years that I have been involved in the market, there have been a number of notable changes, the most important of which is that we are now seeing experienced buyers coming into the market, who are able to convince banks they have the skill and flair to justify investment.

''As a result, we are also seeing far fewer receiverships or sequestrations in contrast to the early nineties when many businesses were hit hard by the recession.

''Potential buyers are still coming north of the border to find Scottish property to buy. however, they are much more discerning.

Previously, they used to view six or seven properties, but now they will drive past up to 10 properties and only view one or two. As a result, we know that if they view a property, there is a 30% chance they will make an offer.''

Current properties on offer from Christie & Co include the Springfield Hotel in Largs. Enjoying a highly sought after promenade position, the detached stone built property comprises a reception and offices, lounge bar/function room, restaurant, residents' lounge, laundry and 58 en suite letting rooms. Freehold offers in the region of #750,000 are sought.

In Glasgow, property consultants Chesterton have been instructed to market an old bank unit within Charing Cross Mansions. Senior surveyor of licensed leisure and hotels, Martin Sutherland, said: ''The property is located in one of the most prominent positions in Glasgow and potentially would make an ideal public house or restaurant.

''The area is a hub of activity both during the day with business people and students, and in the evening, drawing vast numbers to the surrounding night life.''

Rental offers in the region of #40,000 per annum are being sought for the ground floor and basement. Sutherland said: ''It is not often that the opportunity of such a noticeably positioned premises comes to the market and this has been emphasised with the initial interest.''

Edinburgh based business agents Bruce & Co also report a brisk outlook. Gordon Mair said: ''This year has started off well and seems to be continuing. Both small and large hotels are selling well.

''The restaurant market is slightly slower but this has generally been the case as it is more specialised and has a smaller market sector. But there are still a number of excellent properties on the market.''

Offers over #350,000 will secure the Blaeberryhill Hotel in Glenalmond, Whitburn. The property comprises a large lounge bar, kitchen, bistro restaurant with almost 50 covers and an owner's farmhouse with four bedrooms. The property is available without the owner's house at offers over #275,000.

At Tarbert, in Argyll, Bruce & Co. are looking for offers over #120,000 for the Anchorage Seafood Restaurant.

The stone fronted restaurant, with views over Tarbert harbour, is situated in a prime trading location and comprises a restaurant for 28 covers, service areas, owner's flat and courtyard.

Robert Barry & Co anticipates a good market for the rest of this year, with values consolidating after two years of significant recovery.

A spokesman said: ''The prudent operator plans on the basis that today's opportunity may disappear tomorrow and, for those who wish to retire in the short/medium term, or to relocate their resources into a new venture, 1998 may well be a good year in which to go liquid.

''For those taking a longer term view, we believe the current values are well supported and after a pause for breath, the market's next move is more likely to be up than down.''

Properties currently on offer from Robert Barry & Co include the Culag Hotel in the North-west highland fishing port of Lochinver in Sutherland. Offers around #450,000 will secure this highly profitable 28 bedroom hotel with a turnover in excess of #435,000.

The harbourside property comprises letting accommodation, office, residents lounge, lounge bar, dining room, function room and public bar.

In Boat of Garten, Inverness-shire, the company is looking for offers over #330,000 for Craigard House Hotel. Built as a shooting lodge at the beginning of the century, the property comprises drawing room, library, restaurant, lounge bar and 20 letting rooms.

There is a cottage in the grounds which could be converted into three bedroom accommodation.

There is little doubt that improvements in trading, a more stable economy and a more active domestic housing market have all helped to revitalise the Scottish licensed trade market.

In such a climate, it is certain that more new players will enter the market in addition to the experienced operators who are already carving a niche for themselves in our cities and in the surrounding countryside.