L'Eree Bay Hotel closed for good
L'EREE BAY Hotel has closed its doors permanently after an upgrade was found to be economically unviable.
The west coast landmark hotel, which has more than 30 rooms, used to be owned by Randalls and was bought last year by property developers, the RED fund.
The hotel was closed during the coronavirus lockdown, future visitor bookings have been cancelled and the lease with the tenant has come to an end.
Andrew Haining, the chair of RED fund, said the hotel could not reopen in its current condition, and they were now working out what to do with the site.
'As was acknowledged by Randalls, the previous owners, the L’Eree Bay Hotel’s required upgrade was not economically viable and that was the principal reason they had decided to sell it.
'Our subsequent inspections have identified further issues and so the site will now be locked and secured while we continue to discuss our future plans.'
The lease with the tenant, Quinn Hamon, was ended early by mutual agreement, and Mr Hamon said he was looking forward to concentrating on his other work.
'I’ve thoroughly enjoyed my time at L’Eree Bay Hotel and am grateful to the RED fund team for allowing me to continue trading.
'The time is right for me to focus on my tenancy at The Venture Inn as a stand-alone bar and restaurant and I hope to see lots of L’Eree locals there now that we are allowed to open again.'
The RED fund was established in 2018 and it comes under the Ravenscroft umbrella of specialist funds.
It focuses on commercial and residential development opportunities across a range of sectors, including office, retail, industrial, storage and distribution, leisure, hotels and car showrooms.
Last year the RED fund emerged as the preferred bidder to develop a boutique hotel on the site of the Tourist Information Centre at North Esplanade.
It also bought the land off Route Militaire which had been earmarked to become a data park.
