CBRE Hotels Sell Prestigious Fairmont St Andrews Golf Resort

at Scotland’s “Home of Golf”

​London, 19 August 2014 – CBRE Hotels is pleased to confirm that the Fairmont St Andrews Hotel and Golf Resort, Scotland, has been sold for approximately £32.4m to Kennedy Wilson Europe Real Estate Plc.

The stunning upscale Fairmont St Andrews, Scotland is located in St Andrews – the “home of golf”. Located on the coastline of the breathtakingly beautiful St Andrews Bay, this purpose built resort with two golf courses on 520 acres was developed in 2001, with the feature golf course designed by the legendary Ryder Cup hero, Sam Torrance.

St Andrews, venue for the 2015 British Open, is a golfing Mecca for the most accomplished golfer and the enthusiastic amateur alike.

Fairmont St Andrews offers 209 luxury guestrooms, including 17 spacious and well-appointed suites. The guestroom stock includes Fairmont Rooms, Studio Suites, Junior Suites, Deluxe Suites, Executive Suites and two 4-bedroom Manor Homes.

The Business and Conference Centre comprises 12 meeting rooms, including the Robert Burns Ballroom which has the ability to split into four separate rooms and holds up to 1,000 delegates. In addition is the Atrium which a reception capacity of 1,500 and can cater for 700 theatre style. There is also the purpose built John Barbour auditorium which holds 106 guests.

The state-of-the-art Signature Spa at Fairmont St Andrews comprises 12 luxurious treatment rooms together with a Health Club offering a fitness area and contemporary-designed gym. In addition there is a swimming pool and relaxation areas including a sauna and steam room all finished to a high specification.

Fairmont St Andrews boasts two 18-hole, championship golf courses. The Torrance and the Kittocks are spread across the 520 acre estate and encircle the hotel. The golf offering includes an impressive cliff-edge Clubhouse which enjoys stunning views over the championship courses and St Andrews Bay.

The Torrance Course re-opened in July 2009 following an extensive refurbishment and upgrade program which included the re-design of 8 holes. It offers a challenge to both amateurs and professionals alike. It hosted the 2010 final Open qualifying rounds, the Scottish Senior Open in 2010 and 2011 and will host this event again later in 2014. The Kittocks Course originally opened in 2001 and was designed by Bruce Devlin. The course has recently been upgraded and comprises 18 challenging holes with spectacular panoramic views of the Eden Estuary and North Sea.

Paul Collins, CBRE Hotels, commented:

“The Fairmont St Andrews is a profitable business and attracted a wide range of international investors keen to own a piece of golfing history. The resort offers the opportunity to grow the business with a globally recognised operator in situ”.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue).  The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.

About CBRE Hotels
CBRE Hotels is the world’s leading, full-service, real estate advisory group focused exclusively on the hospitality industry. CBRE Hotels EMEA provides consultancy services for the sale, valuation, financing, development and asset management of hotels. Headquartered in London, the EMEA group has offices in Munich covering Germany and CEE (Central and Eastern Europe), Ireland, France, Spain and Italy with dedicated offices across the United States and Asia-Pacific regions. During 2012, the combined value of assets successfully sold, valued and advised on by CBRE Hotels EMEA was £22.9 billion. Please visit our website at www.cbrehotels.com.