Rescue deal agreed for hotel housed in first new castle built in Scotland in 21st century

Designed in the style of a 16th century Scottish castle and located in Banknock near Bonnybridge, Glenskirlie Castle opened in 2007.

A rescue deal has been struck for a hotel and events venue housed in the first new castle built in Scotland in the 21st century, saving 32 jobs

The business and assets of Skirlie Castle Limited, the company that owns and operates Glenskirlie Castle in Stirlingshire, have been acquired by Khungha Investments following a period of marketing by property specialist Christie & Co. The deal, for an undisclosed sum, includes the acquisition of all assets including the castle, restaurant, facilities and grounds. All 32 staff will transfer over, and it will remain “business as usual” for all existing wedding and events bookings.

Michelle Elliot and Stuart Robb of FRP Advisory had been appointed joint administrators of Skirlie Castle as a result of “unsustainable cash flow and financial problems” stemming from the legacy of the pandemic and soaring operational costs. Designed in the style of a 16th century Scottish castle and located in Banknock near Bonnybridge, Glenskirlie Castle opened in 2007 and is said to be the first new castle built in Scotland in the 21st century. The adjoining restaurant, which opened in 1982, has 70 covers and provides fine dining for weddings and private events.

Glasgow-based Khungha Investments, which was founded in 2017, also owns and operates Castlecary Hotel in Cumbernauld. Managing director Ranjit Singh said: “Glenskirlie Castle has an outstanding reputation for weddings and events and for the quality of the dining and hospitality experience. We are delighted to have acquired the assets and business of Skirlie Castle Limited and very much look forward to ‘business as usual’.”

Elliot, who facilitated the deal, said: “Glenskirlie Castle is one of the best wedding and events venues in Scotland, attracting clients and guests from across the UK and overseas. We are particularly pleased to have secured the transfer of all 32 staff and would like to thank all involved with the business for their support.”

Brian Sheldon, regional director, hospitality Scotland at Christie & Co, added: “The sale of Glenskirlie Castle demonstrates the current demand for hospitality businesses across Scotland. The market remains buoyant and we expect this to be the case for the foreseeable future. We would like to wish Khunga Investments all the very best with the business going forward.”