In a blow to the property industry, the owners of the Pettycur Bay Holiday Park and the Bay hotel in Fife have also bought the Old Manor Hotel at Lundin Links, on the market for £1.2million.
Owned for 11 years by Alistair Saddler, the Old Manor Hotel, which has transformed him into the area's premier hotel that enjoys high valuation on several reviewing sites.
An extensive renovation programme started by the new owners, which will include multiple rooms within the hotel, will now continue under the new management. The Wallace family plan a restructuring of the 23-bed estate, which includes the sea view restaurant, a cocktail bar and a lounge overlooking the Firth of Forth and Largo Bay.
The hotel has a separate meeting and conference area that can accommodate up to 120 guests and located directly off the Old Manor Hotel. The new owners of The Old Manor Hotel intend to begin the work at the beginning of the new year.
Steven Wallace, Executive Vice President of Pettycur Bay, said: "We're pleased and delighted to announce that we are the new owners of the Old Manor Hotel, with big plans to modernise and update the property with a full refurbishment programme kicking off straight away."
Mr Wallace, who will executive produce the new vision for Old Manor, added: "Our offering is strong as we have bedrooms with sea views, private balconies and outdoor seating.
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