Point Hotel finds the right bidder
June 14 2005Atholl Estates have found a buyer for the Point Hotel and Conference Centre. The company that owns the prestige property has been privately approaching selected buyers, since June 2004 but have only just found a buyer that they deem suitable. “The purchaser of the hotel has been chosen because it will respect the unique vision of its developer, architect and former owner, Andrew Doolan,” said Leon Kiteley, General Manager of the Hotel.
The hotel has not been for sale on the open market. “It won’t be become part of a chain, although we have approached a number of chains, as well as individuals we thought were suitable. The buyer is one of those approached. We hope to have the deal completed before the tenth anniversary of the opening of the hotel in September,” said Kiteley. Atholl Estates were unable to name the buyer, having entered into an exclusivity agreement.
Doolan, who died unexpectedly a year ago, first studied architecture at night school before entering property development. His conversion of the former Old St Cuthbert\'s Co-operative Association showroom into the Point Hotel was his finest achievement. “We are hoping that it will be taken on with its current staff structure in place, but we have no guarantees this will happen,” said Kiteley.
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