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Fife hotel sold to experienced local operators

The Elgin Hotel, a 15-bed hotel located in Charlestown, a picturesque village in Fife, Scotland, has been sold via Christie & Co from an asking price £650k.

Situated on the north shore of the Firth of Forth, the Elgin Hotel overlooks the estuary and enjoys panoramic views of the Pentland Hills, making it a popular spot for getaways and weddings. The hotel is located just five minutes from the motorway and Dunfermline, and less than 25 minutes from Edinburgh city centre and the airport.

Having owned the Elgin Hotel for several years, the previous owner is now looking forward to a well-deserved retirement.

The new owners are experienced local operators with a portfolio of hotels and self-catering lodges. They plan to develop the hotel’s dining and wedding offering which comprises two restaurants: The Tavern and Pentland, as well as a secluded function suite for up to 160 people. In addition, the hotel has its own chapel.

Tony Spence, Business Agent in Christie & Co’s licensed sector handled the sale and said, “We are very pleased to have completed on the sale of the Elgin Hotel. The hospitality sector within Scotland continues to attract potential buyers from all backgrounds who are either looking for a new opportunity or keen to grow an existing portfolio.

'Rural businesses with parking for the time being are of particular interest due to new social distancing guidelines.”