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Thai hotel group snaps up £2.75m Dundee hotel


Thai-based Compass Hospitality Group has acquired the Best Western Queens Hotel in Dundee through Christie & Co, off an asking price of £2.75m.

This is a joint purchase of the 53-bedroom hotel between Compass Hospitality and Seacare Hospitality.

Owned for the past twenty years by independent hotelier, Gordon Sneddon, the hotel is set over six floors and contains Q Bar; a bar and eatery on the ground floor, a separate breakfast room and a range of function suites. The venue currently caters for around 200 weddings and other functions each year.

Stuart Drysdale, Associate Director at Christie & Co comments, “The new owners are excited by the ongoing development in Dundee, including the forthcoming V&A museum on the waterfront. Hundreds of new hotel rooms are in the process of construction with many more in the pipeline for development. It is forecast the regeneration of the waterfront, including the museum, hotels, retail and hospitality businesses, will lead to an influx of visitors to Dundee in the coming years.

“We received numerous points of interest within a short time of taking the hotel to the open market, with an acceptable offer being tabled early on in the marketing process. The hotel market in Scotland is currently very buoyant, with investors benefiting from the current exchange rate and increased levels of return; regional hotel data throughout Scotland shows positive trends and outlook. The successful purchasers are very active at the moment and looking at numerous sites across the UK, and we wish them every success with their new venture.”


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