Wallace family purchases Old Manor hotel in Fife for £1.2m

The Wallace family has bought the Old Manor hotel in Lundin Links, Fife, from Alistair Saddler for £1.2m.

The family also runs the Leven Beach Holiday Park, the Pettycur Bay Holiday Park and the Bay hotel nearby.

For the past 11 years, the hotel had been owned by Saddler, who made the decision to sell the property to pursue other business interests in Loch Tay.

This 23-bedroom hotel has a restaurant, cocktail bar, and conference area that can hold up to 120 guests.

Steven Wallace, one of the directors of Pettycur Bay Holiday Park and the Bay hotel, said: "We're delighted to announce that we are the new owners of the Old Manor hotel, with big plans to update the property with a full refurbishment programme kicking off straight away.

"We want to reopen in the new year, ready to make the most of the spring/summer staycation season, which is particularly relevant this year with the Open Championship taking place in St Andrews later in the summer."

Robert Smithson, associate director in Colliers' hotels team, which marketed the property, said: "This sale, following our recent sale of the Airds hotel in Port Appin, again highlights that strong demand remains for high quality businesses in popular tourist locations, and in particular those assets close to the coast."