Colliers International has finished the year on a high, with the sale of two public houses on behalf of Star Pubs & Bars, part of Heineken UK.
Dumfries’ The Pleuchie's Howff, a ten-bedroom hotel and popular live music venue, has been sold to its existing tenant, the Coulter family. The hotel and bar, which takes its name from Doric dialect, meaning ploughman’s meeting place, is located in the town's Annan Road. While the selling price has not been disclosed, Colliers International had invited offers over £250,000 + VAT.
In the Stirlingshire village of Buchlyvie, local property developer Ross Aitken has acquired Rob Roy Inn, with a view to converting the property to residential use. Prominently located on the main road to Loch Lomond National Park and en-route to the Trossachs, offers in excess of £225,000 plus VAT were sought for the 1880s village pub and restaurant.
Paul Shiells, a director with selling agent Colliers International, said: “These two sales conclude a successful year, where we have seen a rise in the number of high-profile licensed premises change hands, with values and demand also starting to rise.
"The Pleuchie's Howff is one example of a highly regarded hostelry where the existing management team, in this case the Coulter family, has taken the opportunity to acquire the business and build on its earlier success.
"The Rob Roy Inn is a reflection of some of the challenges facing parts of Scotland's rural licensed trade. Changes in lifestyles and attitudes towards drink driving have created a perfect storm, which could see further properties facing a change in use."