One year since Stewart Milne collapse, a makeover for Marcliffe Hotel and Anders Povlsen loses millions
Welcome to The Business Beat, The P&J’s weekly business newsletter. Here you’ll find all the latest local business news and insights from Aberdeen, Aberdeenshire, Moray, Inverness and the Highlands & Islands.
This week we discuss what’s happened since Aberdeen housebuilder Stewart Milne went bust, why Marcliffe Hotel will close temporarily and Scotland’s richest man losing millions in the Highlands.
Stewart Milne Group: What’s happened in year since housebuilder went bust?
It’s a year since the collapse of Aberdeen-headquartered Stewart Milne Group .
A total of 217 jobs were lost as debts and developments were left unsettled.
So, what has happened since? Deals for sites and a lengthy administration process are explained.
Scotland’s richest man’s Highland hospitality and estates business loses ￡8.1 million
A Highland hospitality and estates firm owned by Scotland’s richest man has posted another multi-million-pound loss.
Anders Holch Polvsen owns Highland hospitality and estates firm WildLand Limited , which operates Lundies House hotel in Tongue and luxury self-catering properties.
With a net worth estimated at ￡9.9 billion on Forbes’ list of billionaires, the latest loss shouldn’t make much of a dent.
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Aberdeen’s Marcliffe Hotel to temporarily close
Marcliffe Hotel and Spa in Aberdeen will close temporarily as it undergoes a multi-million-pound upgrade.
After being acquired by Sir Jim Milne’s Balmoral Group last year, the hotel will close its doors on Sunday and reopen on January 17.
It comes on the back of a #MyMarcliffe survey done by the owners to ensure the best experience for their guests.
Three Aberdeen buildings acquired for ￡45 million
Three Aberdeen oil company headquarters have been sold in a deal worth ￡45 million.
The CNOOC International , Apache Corporation and TAQA Group buildings at the Prime Four business park in Kingswells have been acquired by EEH Ventures.
The deal was the largest to take place throughout Scotland during the last quarter of 2024.
Troubled Aberdeen energy firm Wood makes ￡110 million with joint venture sale
Last but not least, Aberdeen energy firm Wood has made ￡110 million after completing the sale of its stake in Ethos Energy Group.
Wood owned 51% of the Ethos Energy joint venture which focused on rotating equipment, with Siemens Energy AG holding the minority stake.
Wood suffered a series of setbacks in 2024, including a number of collapses in its share price with a failed takeover deal and poor financial accounts playing their part.
Social Media Strategist at DC Thomson
2 个月Great updates from the business team ??