Historic Fife coaching inn sold to returning ex pat entrepreneurs

The Edinburgh office of the hotel and licensed property specialists Colliers International, acting jointly with Cornerstone Business Agents, have the sold the Lomond Hills Hotel, in Freuchie, on behalf of Fife licensees Ronnie and Faye Dick, who are retiring from the licensed trade in order to focus on other business interests.

The new owners are Alex and Jan Wallace, who are ex-pats returning from Abu Dhabi. Their family has been involved in hotels and pubs in the Stirling area for many years.

They take on a hotel which already boasts a full range of accommodation, including 24 letting bedrooms, bar, restaurants, lounges and a function room. The hotel also features a leisure facility with swimming pool, Jacuzzi, sauna and gymnasium.

Alistair Letham, a director in the UK hotels agency team at Colliers International, said: “The Lomond Hills Hotel is a well-known village hotel in a good location in Fife. The full range of facilities, and the good number of bedrooms, are all complemented by the addition of the leisure facility. This ensures the hotel is an attraction to a range of tourists and visitors, locals and commercial custom. Alex and Jan Wallace have the comfort of knowing that they are taking over a well-established and popular business that undoubtedly will bring them success.”

The Lomond Hills Hotel has its origins in the mid-18th century when it was established as a coaching inn,

The purchase price was not disclosed but selling agents Colliers International, acting jointly with Cornerstone Business Agents, confirmed it was close to the asking price of offers around £845,000.