ESP Income Portfolio Service completes acquisition of Troon Hotel
Stellar Asset Management is pleased to announce that it has, on behalf of investors in the Stellar ESP Income Portfolio Service, completed the acquisition of the Marine Hotel in Troon, South Scotland.
The hotel which has 89 bedrooms, a health club, spa, conference and restaurant facilities overlooks the world famous Royal Troon golf course (the home of the 2016 British Open Golf Championship).
Jonathan Gain CEO of Stellar commented that this was the second hotel acquisition for our ESP Income Portfolio Service and will provide a good income stream which will be boosted significantly when the golf championship is held in July 2016. The hotel will be managed day to day by Interstate and Hetherley, which manage our existing hotels, and will look to make improvements to the hotel’s offering. In late Autumn 2016 the hotel will undergo a refurbishment program to improve the exterior and upgrade the rooms to bring the hotel back to its former glory. The hotel has a rich heritage, spectacular views across this Firth of Clyde and significant potential to develop attractive returns for investors.
Stellar was advised by Nabarro and CMS Cameron McKenna.