A 250-year-old Michelin-starred restaurant and hotel in Fife has been put up for sale.
The Peat Inn, near Largoward – about six miles south of St Andrews – has been owned by Geoffrey and Katherine Smeddle for 19 years.
The award-winning restaurant has a history as a coaching house, hotel, and pub.
The restaurant features three dining rooms and has held a Michelin star since 2010.
The Peat Inn owners explain decision to put business up for sale
Geoffrey, 53, told The Courier why he had decided to sell The Peat Inn.
He said: “I’ve been a chef since my mid-20s, and it was my dream to have a Michelin star – now that box is ticked.
“I’m young, in control, and business is good – it just felt like the right time to explore a new chapter.
“It’s an iconic institution, and it’s been a privilege to be the custodian of The Peat Inn and strengthen it before passing the baton on.”
The Peat Inn has had only two owners in the last 50 years, which Geoffrey believes reflects its strength and reputation.
Despite recent struggles in the hospitality sector, Geoffrey says the restaurant remains successful.
He said: “It’s important to add that many hospitality businesses have struggled financially in recent years, but not us – we’re choosing to sell The Peat Inn.
“It was my dream but now it is time to bow out.”
As well as the restaurant, the venue features eight en-suite guest bedrooms, four-bedroom owners’ accommodation and a spacious garden.
Geoffrey says he remains committed to the venue while the sale process is ongoing.
Christie & Co is marketing the freehold of The Peat Inn, with a price made available to prospective buyers on application.
Simon Watson, business agent, said: “The Peat Inn is one of the most established and celebrated venues in Scotland and can continue to be so in new hands.
“It has been a ‘go to’ restaurant for many from the area and internationally, be it for celebrations or business, and a buyer may well be a previous customer who will now be able to have the prestige of owning this iconic venue.”
Conversation