Best Western Buchanan Arms Hotel has been sold to Glasgow-headquartered Nordfield Properties Limited on behalf of Wayne Gardner-Young - the sale which will now allow him to concentrate on his leisure park developments. The company has already committed £100,000 of capital expenditure, as it sets out to raise the hotel’s quality to four stars, as part of the strategy to develop a wellness centre, and secure its position as a premier wedding venue.
The purchase price has not been disclosed but selling agent Colliers International confirmed that it was close to the asking price of offers around £3,000,000.
Alistair Letham, a director with Colliers International, commented: “The Best Western Buchanan Arms Hotel & Spa is one of those well-known landmark destination hotels, popular across the Central Belt. The new owners will be able to capitalise on the hotel’s already significant popularity and any development, whether through marketing or expansion, will be widely welcomed.”
Central to the village, with its proximity to Glasgow – only 20 miles to the north – and Glasgow Airport, The Buchanan Arms Hotel draws custom from a significant population in the private and corporate sectors. It currently features 52 bedrooms, alongside a full range of conference, banqueting, restaurant and bar facilities, as well as the Relax Club & Haven Spa leisure facility.
Nordfields Properties Limited was advised by Ian Buick, senior partner of international hotel management consultants the Buick Partnership, who is also a director of Nordfields Properties.