Drysdale & Company, commercial property specialist agency, have announced a prestigious new client and that they are on th hunt for a new tenant for the Lake of Menteith Hotel
The company, which deals exclusively with hospitality businesses, has announced that it is working with the current owner of the iconic Lake of Menteith Hotel, situated at the Port of Menteith, and within the Trossachs National Park.
The business, owned and operated by Ian Fleming and his family for the past sixteen years, is bidding to find a suitable operator to take on the remaining lease of the property.
The ten-year tenure offers plenty of potential for a new operator to put their stamp onto the eighteen bedroom hotel & waterfront restaurant which also includes two separate one-bedroomed apartments, restaurant, bar, and an impressive Malt Vault. Enjoying a tranquil setting, coupled with picturesque views across what is Scotland’s most famous manmade lake, the Hotel has built up an impressive reputation for its both the quality of its accommodation, and its food and drink offering. Once the Manse for the local Church, the building is now presented in the simple style of a New England Waterfront Inn, securing numerous top Hotel industry awards over the past decade along the way.
“We are delighted to bring what is a strong and unique opportunity to market,” said Stuart Drysdale. “The Lake of Menteith is very well known as a destination for visitors from all over the Central Belt who can easily escape to its peaceful shores, appreciating what is now something of an environmental oasis in Scotland, within a National Park. Any new operator of this multiple rated Hotel, which is already a well known brand in its own right, will hit the ground running, especially given the current popularity of staycations. They can also expect to can add further value to the food and drink offering of the business, with numerous excellent local suppliers in the area.”
Commenting on the sale, Ian Fleming, who has enjoyed a long career in the Scottish hospitality industry, and used to own the acclaimed Buttery in Glasgow, said: “For two generations our family have been the guardians of “the Lake.” We have enjoyed every moment there, and are proud of what we have nurtured. Now is the time for new operators with a similar, but fresh vision to build on the great reputation it has, and refresh the offer to the Hotel’s many loyal customers, as well as those yet to discover the environmental “oasis” that is The Lake of Menteith and Trossachs National Park.”
He also outlined the ethos behind the Hotel’s current look and feel, explaining that it had been inspired by “the environment, and its magical setting.”
“We wanted that to shine through, rather than the Hotel,” said Ian. “Hence the very subtle New England/Bostonian feel that our customers very much enjoy. Our dining chairs are the original Spalding Lloyd Loom, we serve food that is comparatively simple, locally sourced wherever possible, we hero the artwork of homegrown artists on the wall, the likes of Sam MacDonald, Nichol Wheatley, and Colin Bullock. It’s all to let the location and the amazing views sing. I am confident there is plenty to entice an experienced operator to a place like this, and very much hope to attract strong, early interest before the autumn, through choosing Drysdale & Company, as specialists in this field, to promote this sale for me whilst I remain in the States looking after my other business interests.”
It is these other business interests that have led Ian to conclude that the time is right to sell. “When you have a boutique hotel like “the Lake” the operator has to be close to the “coal face”, he said. “COVID has brought it home to me that, with two historic Inns to run in the States, this is no longer possible for me, and my vision of what “The Lake” should be becomes too diluted. I now have the oldest Inn in the USA – the 1710 Robert Morris Inn, together with the 2nd oldest in Maryland, the 1744 Washington Inn – and I am looking to continue growing that historic Inn estate. I also have three Grandchildren here in the States which is deservedly diluting my time at the helm these days.”
Stuart Drysdale commented “We wish Ian well with his other business interests. He has done a truly sterling job with the Lake of Menteith Hotel, and we thank him for choosing Drysdale and Company to handle the sale. This is the latest in a steady line of prestigious deals we have handled, covering B&Bs, self catering parks, Serviced apartments, Guest Houses, Public Houses, and several Hotels of this calibre. Our specialism is needed at this time of opportunity in our sector.”
Stuart finished by saying that he hoped to secure a swift and timely sale: “We can provide plenty of additional information and advice, via Ian, to any interested parties,” he said.
Drysdale & Company is headed up by experienced chartered surveyor, Stuart Drysdale (MRICS), who has been involved in the sale of over £50m worth of hospitality assets throughout his career. Working with businesses of all sizes, Drysdale & Company offers successful asset disposal, or a range of lucrative restructuring programmes if an operator feels it’s not yet the time to sell.
Stuart’s career has seen him complete over 1000 commercial property valuations across Scotland and the UK, before heading up the Scottish Hotel Agency Team of an International property firm, specialising in the marketing and disposal of independently owned and national chain hotels & hospitality businesses.
Stuart@drysdaleandcompany.co.uk
https://www.drysdaleandcompany.com/property-search/lake-menteith.
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