Fife hotel and restaurant that closed last year now up for sale

A former Fife restaurant and hotel that closed last year has been put up for sale.

The former Fife Arms Hotel in Milton of Balgonie, which more recently operated as a restaurant and bar called ‘Thistle Dae Nicely’ is being sold.

It is being marketed by Scottish Business Agency for £240,000.

The property closed last year due to “unfortunate health circumstances”, the agents said.

It added the property was now being sold due to a change in the circumstances of the current owner, who has moved to a new line of work.

‘Great reputation’

The Main Street hotel has a 50-cover restaurant bar, three en suite rooms and a car park, plus a two-bed flat for the owners.

Its sales brochure states: “It had a great reputation locally with visitors from across Scotland.

“The restaurant served a traditional menu alongside a cocktail offering which quickly became popular with the village and further afield.

While it is the only food and drink offering in the village, there is potential to develop the offering, according to the agents.

The schedule adds: “The property could also lend itself to alternative use subject to planning. A committed operator would do well in this premises.

“The combination of accommodation, food and drink would be popular for tourists, contractors and locals.”

Refurbishments needed at Fife property

The agents said the property would require some refurbishment for it to reopen as a hotel.

SBA added: “The property requires modernisation in order to be successfully operated as a small hotel once again.

“With the right input, it could certainly become a thriving hub for the village once again as there is potential for a food and drink offering alongside the accommodation.”