The Wallace family, who owns Pettycur Bay Holiday Park and the four-star Bay Hotel in Fife, bought the Old Manor at Lundin Links, which was on the market for an indicative price of £1.2 million.
They plan to put a “new feel” on the 19th-century property, which overlooks Lundin Links Golf Course and became a hotel in 1994.
Alistair Saddler has owned The Old Manor for 11 years, which has built its business up to be one of the leading hotels in the area, and has been highly rated on various rating websites.
The 4-star, 23-bedroom property, which overlooks the Firth of Forth and Largo Bay, features a Sea View restaurant, cocktail bar and lounge.
The new owner has indicated that the former restaurant inn building in the Old Manor’s car park can be used as a fine dining restaurant, bistro or for weddings and events, with a final decision yet to be made.
It has a self-contained meeting and conference area, which can accommodate up to 120 guests, and is located next to the main hotel.
The hotel is located near the World Heritage-listed villages of East New York and St Andrews, which will host next year’s Open.
Stephen Wallace, Principal of Pettycur Bay Holiday Park and Bay Hotel, said: “We are delighted and delighted to announce that we are the new owners of The Old Manor Hotel, with significant plans in place to modernize and modernize the property with a full renovation program beginning immediately.”
“We want to reopen in the new year, ready to make the most of the spring-summer residence season, which is particularly relevant this year as the World Open kicks off in St Andrews later in the summer,” he added.
Stephen Wallace is the grandson of Thomas Wallace, who jointly purchased Pettycur Bay Holiday Park with his two sons, Alan and Tommy, more than 30 years ago.
Referring to the hiring plans, Stephen Wallace said, “We are looking for new employees immediately and hopefully will be hiring locally, as with our other companies.
“We have always been a great local business owner, and plan to build a strong, cohesive team here at Old Manor, covering reception even in front of the house, to housekeeping, chefs and kitchen staff. We hope locals in the area who are keen on a career in hospitality will want to join us at Breathe new life into the Old Manor, a beautiful building with tremendous potential. We aim to make it the go-to venue at Lundin Links for weddings, events, golf breaks and dining out.”
He added: “We believe this is the best and most positive news we can give to our sector – and the local economy here at Lundin Links, which relies heavily on tourism – as the country continues to grapple with the pandemic. The hospitality sector is extremely important, and doing hospitality well is a resource A lot of pride for many family businesses like us.”
Colliers, a commercial real estate company, has concluded the sale of the hotel.
Robert Smithson, Associate Director of the Colliers Hotels team, said: “I am delighted to be selling the hotel on behalf of Sadlers to a local buyer who will continue to invest in the business as part of its growing leisure portfolio in the region.”