Site on the shores of Gare Loch in Scotland ‘provides several opportunities’.
BDL Select Hotels has sold the Rosslea Hall Hotel for an undisclosed sum to Chinese investor Tom Xu, making his first foray in to the UK hospitality market.
The asset had an initial guide price of £2 million for the freehold interest, with JLL advising BDL throughout the sale process.
The hotel was sold free of management and branding and provides several opportunities for the incoming investor to tactically reposition the hotel and add value.
The 30-bedroom site comprises a prominent country house hotel located in the village of Rhu, with two function/conference rooms, on-site car parking for 80 vehicles, all set on the east shore of Gare Loch.
Xu said: “We are delighted to acquire Rosslea Hall as our first hotel asset in the UK. The hotel has an excellent reputation in the local area, given the service provided by the team. We will continue the business as usual and work alongside the team in delivering the next, and better, chapter of the Rosslea Hall Hotel.”
Neil Milligan, Associate Hotels & Hospitality at JLL, said: “This hotel offers a great mix of both corporate and leisure guests. The local naval base continues to expand, driving more employment to the local area, while the attractive gardens and waterside views make this a key Scottish wedding venue.”
UK law firm Shepherd and Wedderburn acted as legal advisers on the sale for BDL Select Hotels.