THE Loch Earn Brewery & Hotel in the village of St Fillans has been sold within four months of being put on the market.
The Perthshire hotel has been sold by Arran Brewery to a private investor for an undisclosed sum.
It had been on the market with an asking price of more than £775,000.
Selling agent Christie & Co noted Arran Brewery had made the decision to bring the hotel to market “following a small fire within the property”.
Christie & Co said: “The main building, a detached C-Listed Victorian style property comprises 38 guest rooms, along with three separate bar and restaurant areas, including a lochside beer garden. The grounds also feature two breweries run by the previous owners, award-winning Scottish brewing company Arran Brewery, who purchased the hotel in 2013.
“Unfortunately following a small fire within the property, the company made the decision to bring the hotel to market. The business has been purchased by a private investor at an undisclosed price.”
At the time it was announced the hotel was being put up for sale in early May, Arran Brewery managing director Gerald Michaluk said the decision had been made with a “heavy heart”.
While Arran Brewery was seeking offers over £775,000 for the property, it also highlighted its view that a buyer would “need to have around” £1.5 million, given the amount which would have to be spent on the property.
Mr Michaluk said then: “It is with a heavy heart we are having to put the property on the market. We have not recovered from a small fire, following which the insurance company has still not settled our claim in full. This has led to a lack of funds while the property needs around £600,000 spent on it to bring it up to spec.
“Unfortunately we simply don’t have that kind of money, given the current downturn in the brewing industry, to put into the building. As such we have put the site on the market for offers over £775,000 but a new owner would need to have around £1,500,000 to acquire the site and to realise its full potential.”
Arran Brewery noted then that it had acquired the site in 2013 and purchased and installed a secondary brewery in the outbuildings “which is currently in need of commissioning”.