Commercial Property News

Our magazines are published bi-monthly with in-depth features and news for the commercial property industry. On this page we have the latest news to keep you constantly updated on the market. On the left hand side of the page you can search our archived news which is stored monthly.



Wednesday, May 31, 2023

Beancross Hotel, Bar, Restaurant & Function Rooms sold to London & Edinburgh Inns

Creevy LLH, acting on behalf of Finn Inns Ltd, has sold the Beancross Hotel, a popular bar, restaurant, hotel and function room at Falkirk / Grangemouth to London & Edinburgh Inns.

Alan Creevy says that the sale was "a full circle instruction for his company".

"I originally met with the Directors of Finn Inns at Beancross when it was nothing more than a farm house and barn in the 1990s," says Mr. Creevy.

"I acted on their behalf and acquired the site and watched the original development of a fantastic family restaurant and bar facility and, thereafter, a subsequent extension of a hotel and function room. I have worked with Finn Inns throughout the entire project and was delighted to finish this off in a disposal of the business to London & Edinburgh Inns."

Beancross, which comprises a large bar and restaurant facility with three distinct dining areas, including the feature "Horse Engine Restaurant" and indoor and outdoor children's play area, a separate function room with a capacity for up to 375 persons, 14 top quality bedrooms and 130 car parking spaces.

The sale was conducted on a totally confidential basis off an asking price of 3.5 million. Alan Creevy comments: "This was a multi-million pound transaction with both sides delighted with the outcome."

"The licensed, leisure and hotel property market remains very active, with many corporate buyers around, as well as individuals keen to assemble groups.

"The hotel market in particular remains buoyant and, whilst it is early days, the smoking ban, introduced in March 2006, seems to have had little impact operationally and, therefore, there are many buyers returning to the bar and restaurant market. The risk associated with the post smoking ban in England means that funds are now flowing into Scotland for corporate acquisitions," adds Mr. Creevy