Earlier this summer Moffat House Hotel, was put on the market for £1 million but just months later the price has now been reduced by 25 per cent.
The hotel and licensed property team at real estate advisor Colliers International say the owner, due to ill health, now needs to relocate much sooner, so the price has been reduced significantly to facilitate a quick sale.
Occupying a prominent and valuable town centre site, the Grade A listed Moffat House Hotel is an elegant and classical Georgian mansion house, and is set within 1.4 acres of grounds.
The property’s origins date back to 1761 when John Adam completed the design and building of the property for the Earl of Hopetoun.
It has traded for many years as a hotel business and is well established as a popular destination.
The 21-bedroom site has a range of elegant public rooms, including a banqueting and function suite, and also includes a two-bedroom cottage.
A genuine retirement sale, the Moffat House Hotel has been in the same family ownership for 11 years, and in recent years has been operated under management.
Alistair Letham, a director at Colliers International, said: “The Moffat House Hotel is a classic Georgian mansion house, unusually in a town centre location which all adds to the attraction of the business. It is easily accessible in this corner of southern Scotland, making it an ideal investment for hoteliers – experienced or first-timers – seeking an established and profitable business in an attractive location.
“The significant price reduction makes what was already a very attractive proposition, even more so – offering a rare opportunity to acquire a successful hotel business in a popular town centre location, for a very favourable price.”