Buyer finally found for Scottish hotel?

A Scottish hotel with a storied, celebrity-filled past is on the verge of being sold, more than half a year after it first went into administration.

A representative for administrators, KPMG, said that the four-star Auchen Castle Hotel - which frequently hosted the Beatles during their heyday - is finally nearing a deal, after a new prospective buyer emerged on Monday.

The potential new owner is likely to take the picturesque hotel for a steal, at the reduced price of £1 million. The price is a staggering fall from the £3 million paid for it by Pierre-Alban Guy, the founder of PAG Hotels, just over two years ago in 2008.

The remote hotel, which is situated near Moffat in Annandale, first fell into administration seven months ago, after the recession badly hit the local tourist trade. Prior to its closure it had successfully traded as a hotel for more than 60 years.

No buyer emerged for the 28-bedroom property in more than half a year, but Blair Nimmo, of KPMG remained confident that there remained a future for the distinctive property, declaring, "We are optimistic that a buyer can be found."

The latest bid was announced by commercial property firm, Colliers International, earlier this week.