| scotland


AWARD-WINNING HIGHLAND INN OFFERS CHANCE FOR EXPANSION


THE MARKET IN THE HIGHLANDS AND


ISLANDS AND MORAY T


he past 4 months has been a busy period for the commercial property department within the northern offices of Allied Surveyors Scotland. During a period which is renowned for being a quieter period of the year, with the festive period dominating the agenda, there has continued to be a significant level of activity within the commercial market in the Highlands and Islands and Moray.


Our research shows that since A


multiple award winning traditional Highland Inn has been placed on the


market offering opportunity for further expansion both in the core business as well as providing a base for outdoor activities. Selling agent Colliers International say the Glenuig Inn, situated amid spectacular coastal scenery near the spot where Bonnie Prince Charlie sailed for Skye, is Scotland’s exemplar green tourism business. Originally believed to have been a drovers’ inn from the 18th Century, the current business is the culmination of ten years’ work by Steve Macfarlane, whose vision was that environmental sustainability should be at the forefront.


different from other businesses, and saving us money while reducing our environmental footprint.”


Its sustainability credentials, focus on the outdoor communities and a great reputation for locally sourced food has helped make Glenuig Inn a year-round destination. Situated in a stunning West Highland coastal location, it has a bar, restaurant and lounge with sea views, plus six recently upgraded letting bedrooms and a bunk- house. There are two staff flats and a new in-house laundry. There is planning permission for a further building to join two existing sections of the property. Alistair Letham, a director in the UK


It operates with minimum waste having recently removed all single use plastic from the business, has zero food waste leaving the premises which instead contributes to the 100% renewable energy which provides all heating, power and hot water, and clearly demonstrates that it is possible to run a year-round leisure and tourism business efficiently and profitably with minimal environmental footprint. It is a Gold member of the Green


Tourism Business Scheme, and a holder of Scottish Environment Awards and Highland Business Awards.


Seller Steve Macfarlane said: “We’ve demonstrated that incorporating sustainability is sound business sense - sustainability and profitability are parts of the same approach. Doing so has turned this into a more profitable, efficient and sustainable business, making us very


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hotels agency team at Colliers International, said: “Glenuig Inn is ideally situated, as it enjoys a beautiful, tranquil location without actually being too remote: it is on the route north from Oban via Mull to Skye, and just off the Road to the Isles. It attracts visitors from all over the world and is the great base for doing things on the West Coast of Scotland, as well as having impressive sustainability credentials”. “Following the current owner’s successful efforts to establish Glenuig Inn as a renowned green destination, it will certainly appeal to other hoteliers and entrepreneurs interested in continuing this legacy, which makes sound business as well as environmental sense.”


Colliers International is inviting offers of around £895,000 for the Glenuig Inn, Lochailort, Inverness-shire.


November 1st 2017 there has been 36 commercial sales and 27 concluded lettings recorded in the area, somewhat surprisingly the bulk of this activity has been in the retail market, with 23 transactions concluding, although what is noticeable in this figure is that the bulk of transactions are for smaller shops in smaller towns and villages throughout the area.


Industrial property is the second most


active market with 17 transactions closely followed by offices with 13 transactions.


Not included in the above figures are


deals involving operational entities such as hotels and guest houses, and as a result of a strong year for tourism in the Highlands, driven by the popularity of places such as the Isle of Skye and the increasingly popular North Coast 500 tourist route, we have noted a high volume of sales concluding in this sector, this has resulted in a large number of commercial valuation instructions and we fully expect this sector to be an active one throughout 2018. This volume of transactional activity across the region has resulted in increased activity for the commercial valuation and commercial energy assesment team, with a variety of instructions coming in from all areas. The agency department has also been kept busy during the winter months, with 13 new properties being brought to market stretching from Inverness up to Orkney, and more encouragingly 8 properties have been placed under offer in that time period.


With increasing volumes of


commercial valuation instructions from both private and institutional clients, more properties to come to the market in the coming months, and negotiations at an advanced stage on a number of deals, the signs all indicate that 2018 is certainly not going to be quiet for Allied Surveyors Scotland in the Highlands and Islands.


COMMERCIAL PROPERTY MONTHLY 2018


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