One of Ayrshire’s most iconic hotels has been sold as part of a restructuring strategy by business supremo Bill Costley.
Ayrshire Live can exclusively reveal that the Brig o’ Doon House Hotel, in Alloway, has been sold to the Cumnock-based RAD Group.
It’s not been disclosed how much the hotel, wedding venue and restaurant has fetched, but it's expected the deal will be “significant.”
Mr Costley, the former Kilmarnock FC chairman, said: “We have had the Brig for 25 years and it’s been a terrific business for us; 25 years of exceptional business in it.
“It’s big step for me to do this, [sell] but there comes a time when you have to take stock of everything.”
The Brig is widely regarded as Ayrshire’s ‘Jewel in the Crown’ wedding venue.
It will change ownership on Monday, October 3 and continue to operate as normal.
News of the sale has raised eyebrows in the business community, as the Costley & Costley owned Ellisland, in Ayr, also changed hands earlier in the summer to a private buyer.
And although the Cochrane Inn, in Kilmarnock, is also on the market, the family is "considering" the possibility of reopening it.
In another move, the 19th Century Doonbrae, also owned by Mr Costley, has been sold, again to a private buyer.
Ayrshire Live understands that the scaling down of the firm's property portfolio is designed to steam line the business model going forward.
Lochgreen House Hotel and Highgrove House Hotel, both in Troon, will remain firm fixtures of the Costley empire.
Ayrshire Live can also exclusively reveal that Mr Costley plans to refurbish Lochgreen in the new year — with expansion plans on the way.
“As a family we’re keen to reduce the portfolio to maybe two or three businesses,” admitted Mr Costley.
“And the hope is that we’ll make the two or three that are left, better.
“We have a planning application going in for Lochgreen, we are going to expand it. We’ll have it refurbished after the new year, hopefully it’ll look fabulous.
“I want to try to make Lochgreen one of the best hotels in Scotland.
“So the Brig has been sold. The RAD Group gave us an offer.
“We sold the Ellisland in June. We're trying to reconfigure the business. Doonbrae we have sold as well, the Cochrane is still available.
“My son Andrew and the family will be taking over Lochgreen and Highgrove.”
Mr Costley admitted it was a wrench to let the Brig go.
He revealed: “Is it mixed emotions? Very much so. It was quite a difficult decision. It’s hard to let go; it’s been part of our lives for 25 years.
“But there comes a time when you need to take stock and decide what you are going to do in the future.
“Nobody is losing their job. I’ll look after any of the staff. A few of the staff are going with us to Lochgreen and Highgrove. A few of them will stay.
“All the staff have been terrific. I need to see them all right.”
Mr Costley remains tight-lipped over the financial details of the Brig o’ Doon sale.
He said: “It was a good figure. No doubt it’ll come out into the open.
“It’s a great buy for the RAD Group, they conducted themselves very well. They are an exceptional company.”
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