George hotel in Inveraray put on the market by administrators

Administrators have put the George hotel in Inveraray up for sale for offers over £2.85m.

The 24-room boutique hotel in Scotland had been owned by the Clark family for seven generations but fell into administration last month due to cash flow issues, leaving 60 jobs at risk.

Administrators Begbies Traynor appointed specialist hotel agent Colliers to market the property, which continues to trade as usual under the supervision of Thomas McKay, partner at Begbies Traynor.

The George hotel, bar and one-AA-rosette restaurant resides on a one-acre site on the western shore of Loch Fyne. There are also five residential properties adjacent to the hotel being marketed at a total asking price of roughly £750,000.

Robert Smithson, Colliers director, said: “This is an outstanding hotel asset in a beautiful visitor destination. Despite the administration, the George has a strong trading history and continues to operate well. The hotel hasn’t changed hands in over 165 years of family ownership and is one of the region’s longest-established independent hotel venues, as well as being very popular with local residents.

“It does present opportunities for growth, however at the moment it’s an ideal turnkey asset of the sort that rarely comes to the market and we expect a lot of interest from investors.”

McKay added: “The hotel is being put on the market imminently and we will work with our agents Colliers to secure a buyer, but we have already had interest in the business. The hotel remains open as normal and we continue to honour all future bookings to protect the business as a going concern.  

“We want to thank the public and local community for their fantastic support and response and for continuing to enjoy the amazing food, drink and accommodation on offer at the George hotel, and also the staff for their ongoing hard work during the process of administration.”