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Bell Ingram Concludes Sale of Lochside Hotel, Bowmore, Isle of Islay
9Aug2011
The sale of The Lochside Hotel, located in Bowmore on the Island of Islay, was concluded in July for an undisclosed sum from an asking price of £750,000 by Bell Ingram’s Oban office.
The hotel’s impressive collection of more than 270 rare whiskies earned it a gold award from the Whisky Magazine as a Scotch Whisky Bar of the World®. The sellers of the hotel, Mr & Mrs MacNeil, developed the business into an extremely popular and profitable business popular with visitors and locals alike.The new owner is Mr Angus Mackinnon who already has business/property interests and family connections on the island and who is looking forward to carrying on and developing the hospitality service at the Hotel.
Bell Ingram, although well known in the residential and rural sales sector, is relatively new to the licensed and leisure property sector. The department is headed by Euan MacCrimmon, a Chartered Surveyor with a large amount of sales and valuation experience in the licensed sector.
Euan MacCrimmon stated that “Bell Ingram has an impressive reputation in the high quality rural and residential markets and it’s important for us as a company to widen our expertise by expanding into new sectors, such as licensed & leisure.
The sale of the Lochside Hotel is an example that deals can still be achieved in current difficult market conditions with targeted marketing and appropriately priced properties.”