Mystery buyer for Drummond Arms

Oct 10 2008 by Lynn Duke, Strathearn Herald

THE historic Drummond Arms Hotel in Crieff’s James Square has finally been sold.

It was due to go under the hammer at auction in Edinburgh last Wednesday, but was withdrawn at the last minute after a deal was struck between sellers Oxford Hotels and one of the parties originally interested in purchasing the local landmark when it first came to the market.

At that time the sale attracted 18 viewings and three official offers but following surveys, all three offers were withdrawn.

Speaking to the Herald on Monday, Alistair Letham of property agents Colliers Robert Barrie confirmed that the Drummond Arms has been bought as a hotel, although he could not disclose who the buyers are.

He said: “A deal has been reached. The missives on the sale have been concluded and the date of entry will be at the end of the month.”

SVA Property Auctions Ltd had given the hotel a guide price of £250k to £300k but it is estimated that the Category B listed building could require extensive refurbishment and renovation costing up to £500,000 before it can reopen its doors to guests.

Earlier this year, planning permission was granted for the building to be converted into 17 flats, despite a barrage of protest including a 121-signature petition urging its retention as a hotel.

Local MSP Roseanna Cunningham, who has been keen to see the Drummond Arms remain as a hotel, told the Herald she was looking forward to learning more details about the sale and the new owners’ plans. She said: “ If it is indeed the case that they intend to operate it as a hotel then I am absolutely delighted.

“The Drummond Arms has played a part in significant episodes of our nation’s history and has been at the heart of the community in Crieff.

“I hope that we can now look forward to this historic hotel once again providing the venue for important life events such as weddings and birthdays, as well as the likes of Rotary lunches and political meetings.”