A Royal Deeside hotel which has been run by the same family for more than half a century is back on the market at a greatly reduced price from when it went up for sale more than four years ago.
Selling agent Ryden is currently seeking offers in the region of £795,000 for Burnett Arms Hotel in Banchory.
In August 2012, well before the oil price crash wreaked havoc on the north-east economy, the owners were hoping for £1million.
The 18th-century hotel, which was once a popular inn for coaches travelling between Aberdeen and Braemar, has undergone substantial refurbishment in recent years.
Its 18 en-suite letting bedrooms were all upgraded, while work to convert the former public bar into an American-style diner, Bus Stop, was completed within the past year.
The premises also feature a lounge bar which can accommodate 50 customers, a similar-sized dining room, lounge/reception area, residents’ lounge, conference room, staff or owner’s accommodation and a function room for up to 150 people.
Owned by the Melvin family since 1965, the hotel has been run by Robert Melvin and his wife, Jacqui, for more than 25 years.
Mr Melvin is now ready to retire from the hotel business and concentrate on other interests, as well as enjoying more time with his family.
Douglas Lambie, licensed trade associate at Ryden, said: “Burnett Arms Hotel is something of an institution within Banchory and we are delighted to be appointed to find new owners to help write the next chapter in the property’s story.
“Very healthy turnover reflects the substantial investment in the property over the last few years.
“The letting rooms especially have been refurbished to a very high standard throughout the hotel.
“This is an excellent opportunity for new owners to maximise profitability, whilst requiring minimal capital expenditure.”