Colliers International has sold the Red Lion Hotel in the centre of the Borders town of Earlston, off a quoting price of £110,000 plus VAT.
Acting on behalf of seller national operator Punch Taverns, the Red Lion occupies a prominent site in The Square at the heart of the village and comprises a two storey stone building incorporating a public bar, restaurant, function suite, five letting bedrooms and owner’s accommodation.
Paul Shiells, director, Licensed & Leisure with Colliers International, said: “The Red Lion is a lovely property in a perfect village setting. We are delighted to have secured a sale that has seen the premises re-open almost immediately and for the benefit of the local residents and tourists visiting Earlston.”
The property was sold to Red Lion Scotland Limited and will be operated by local businessman Ritchie Grierson.