Property slump sees Cupar country house price drop

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ONE of Cupar’s most striking country houses has gone on the market for a knock-down price of £695,000.

The Rathcluan Hotel in Carslogie Road was on the market for £800,000, but current economic conditions have forced the price of the 11 bedroom hotel to be slashed.

Formerly Bonvil House, home to Duffus Park benefactor JC Duffus, it has been owned by the same family for the last six years.

Originally it was a 17 bedroom hotel, though the current owner recently converted it to 11 bedrooms with an adjacent six-bedroom owner house.

Gordon Mair of Cornerstone Business Agents said there had been quite a few people viewing the hotel, with people interested in it as a hotel and for development purposes.

He said the Rathcluan has great potential to flourish if it was under the ownership of someone with experience.

“Its location in the heart of Fife and close to St Andrews is excellent and, if done properly, it could have a really good restaurant for both local people and guests.”

Mr Mair added: “Prior to 2008 this place would’ve been snapped up; it’s a terrific opportunity for someone.”

Cupar’s other former showpiece hotel also remains on the market after failing to reach its reserve price at auction some months ago.

The Eden House Hotel, on the corner of East Road and Pitscottie Road, failed to reach its reserve price at auction.

The sale is now in the hands of Christies with offers over £450,000.

The Victorian building and adjoining conservatory is owned by Neil and Mary Blackburn of Braveheart Hotels, who also have the 14th century Fernie Castle near Letham.

Mr Blackburn said he had some interest in the hotel and was hopeful it would sell soon.

He said the hotel was closed due to a downturn in business and a lack of ‘assistance’.

Commenting that their focus was on Fernie Castle, Mr Blackburn said: “I think local people would prefer an in-house manager, someone they could get to know.”