11/30/2018 | Hotel Mortgages

Traditional village inn purchased by experienced business operators

The Bankfoot Inn situated in the village of Bankfoot, Perthshire has recently been sold to experienced operators Ross Paton and Fraser MacDonald with competitive funding secured by specialist commercial finance broker, Christie Finance.

Situated in the heart of the Perthshire, the Bankfoot Inn is a well-established business comprising of a bar, lounge, restaurant, six letting rooms and owner’s accommodation. The premises have recently undergone significant refurbishments which has contributed to the ongoing success of the business.

Fraser will take a very ‘hands on’ approach in the day-to-day operation of the business utilising his previous experience working in the hospitality sector. From 2002 to 2009 he worked at a four star hotel, the Dunkeld House Hotel and Country Club in Perthshire. Here he assisted in the running of the hotel working in several different functions of the business. Ross currently owns and operates a profitable emergency plumbing and drainage business based in Perthshire which he will continue to run.

Having grown up in Bankfoot, Fraser is familiar with the local area with his family currently living in the village. The couple have chosen to purchase the business due to its desirable location and the growth potential that exists. The Inn currently closes one or two days per week depending on the season. Fraser and Ross intend on opening the Bankfoot Inn seven days a week, serving food and drink throughout the day. The menu will be expanded to offer high tea and a takeaway service. The hotel currently works on a set pricing rate per room however, there are plans in place to implement a demand-based pricing structure to increase overall occupancy rates.

Stephen McConalogue, Finance Consultant at Christie Finance comments “I am delighted to have assisted another first time buyer entering the hospitality sector. I have no doubt Ross and Fraser will make the Bankfoot Inn a real success. The funding secured for this hotel is a great example of how Christie Finance can support first time buyers in accessing a bespoke loan offering with market leading terms”.