Property investor, Kennedy Wilson Europe Real Estate has agreed to buy the Fairmont hotel in St Andrews for £32.4m in cash.
The 209-room hotel and resort, set within 520 acres of land, is operated by Fairmont Hotels and Resorts under a management agreement running until 2031 and has been acquired from privately-owned SABD Holding.
The deal marks the second luxury hotel purchase for Kennedy Wilson Europe, following the €29.8m (£23.9m) acquisition of Dublin’s Portmarnock Hotel in June.