Business Ceased Trading – In Liquidation
UK property firm Graham + Sibbald are instructed by Michael J M Reid, Meston Reid & Co, as Liquidator of S J Inns Ltd, to the market for sale the Douglas Arms Hotel, 22 High Street, Banchory, Aberdeenshire, AB31 5SR – a wonderful opportunity to acquire and re-establish this once busy hostelry in a very popular locality.
Following on from the problematic and difficult trading conditions, for two years, during the Covid pandemic, the significant increase in energy costs, pre-Christmas 2022, made the trading business unsustainable, which signalled the decision the place the business into a voluntary Liquidation process.
The Douglas Arms Hotel has a prominent main street location on Banchory’s High Street. The hotel can attract many passers-by on the main A93 Aberdeen to Balmoral and Braemar Road, and it has enjoyed the patronage from locals, visiting fishermen, tourists and golfers, as well as a range of commercial custom. New owners of the Douglas Arms Hotel have the opportunity to re-establish the hotel as a good owner-driven, local, hotel business.
The Douglas Arms Hotel has 8 Letting Bedrooms with quality Lounge Bar/Bistro and Café Bar. The hotel also has an attractive outdoor balcony Terrace and the former Lounge Bar/Restaurant, suitable for additional development. Included is a spacious 4-room private flat.
Alistair Letham, a Hotel + Leisure Consultant with Graham + Sibbald, commented, “The increase of the energy costs was the “final-straw” before deciding on the voluntary Liquidation but this offers new owners a fantastic opportunity to develop and re-establish the Douglas Arms Hotel as a thriving business, of appeal to locals and visitors, alike. The inclusion of a 4-room private flat is ideal for resident owners. Royal Deeside has perennially been a popular destination; maybe even more so now. The Douglas Arms Hotel with its prominent High Street position is well placed to reap the benefits of both its town centre and main Deeside Road location.”
Graham + Sibbald are inviting “Offers around £395,000” for the Douglas Arms Hotel, Banchory.
Graham + Sibbald has over 250 employees and 23 partners working across its 21 UK offices in Scotland and England.