The only hotel on the remote Hebridean isle of Jura where George Orwell wrote 1984 has been purchased by the City’s biggest hedge fund trader, nicknamed ‘The Wizard of Oz’ for more than £1.2 million.
Locals as well as tourists love the Jura Hotel, which has 17 bedrooms. It boasts “a fantastic prominent location with open views overlooking Small Isles Bay”.
It is home to an ‘exceptional and internationally renowned whisky’, which is loved by David Cameron, and was where George Orwell lived when he wrote his famous novel.
But, after eleven years, its owners realized it was time for a change and put the hotel on the marketplace.
It was purchased by Ardfin Estate, a local hedge fund company owned by Greg Coffey.
Mr Coffey was nicknamed ‘The Wizard of Oz’ after making a reputed £430m as a young City trader.
He was obsessed with his obsessional way of trading. His terminals were flown to the hotel where he was holidaying, and then assembled to enable him to trade throughout the night as his children and wife slept.
The Australian first rose to fame when he walked away from a $250million (£156million) golden handcuffs deal in 2008 before building up a cult following in the financial markets because of the extraordinary success of the £3.5billion ’emerging market’ funds he ran.
His retirement announcement was made in 2012 so he can spend more time with his loved ones. He also has an extensive portfolio of properties around the world.
A short drive away is the Jura Hotel, and Isle of Jura Distillery. These are where their ‘distinctiveness and international fame’ can be found.
Jura, an isolated island located off the Scottish mainland’s west coast, is home to a small population of approximately 230 people.
Greg Coffey (left) purchased bought Ardfin Estate for £3.5 million in 2010 and has spent around £20m creating an 18-hole golf course on the island’s rugged terrain
The hotel is viewed from the air.
Jura Hotel is situated on an island that has a population of only 230. The terrain of Jura makes it uninhabitable.
Pictured (left) is the Jura Hotel alongside its adjacent distillery, where it produces its famous whiskey.
Three months after it was listed, Ardfin Estate bought the hotel.
Ardfin Estate owner Willie McDonald stated that they were delighted to acquire Jura Hotel. They plan to carry on with the operation as before the former owners.
Mr Coffey bought Ardfin Estate for £3.5m in 2010 and has spent around £20m creating an 18-hole golf course on the island’s rugged terrain.
Graham and Sibbald, estate agents, described Jura Hotel in a positive light as an opportunity for the right individual.
The Jura Hotel was renovated by the previous owners over the past decade. It is now ‘green-powered’ through solar panels and biomass.
Two bars, a lounge, and a restaurant are available at the hotel. The property also has a 5-bedroom home for staff and their owners.
At the front of the site is an alfresco terrace and bar and café overlooking the hotel’s camping and event field.
Alistair Letham is a leisure and hotel consultant for Graham and Sibbald. He said that the Jura Hotel was almost unheard of in such a idyllic location and attracted attention from many potential buyers and hoteliers.
‘The purchase by the local Ardfin Estate not only secures the future of the Jura Hotel – an essential element of this island’s community – but also offers excellent business growth opportunities when “marrying” it with hotel and leisure/sporting facilities at Ardfin.’
The business is understood to have a turnover of around £880,000 net.
Graham and Sibbald added to their description: “The Jura Hotel is in a prominent spot with views of Small Isles Bay. Many visitors, whether they are tourists or business people, enjoy the warm island hospitality and the mix of custom that the hotel offers.
The hotel was extensively renovated and remodeled to offer excellent facilities. This included the installation of biomass and solar panels and the creation of a 5-bedroom home for its owners.
This hotel was where George Orwell, the famous author of 1984, lived.
For its staff, the hotel has two bars and a lounge. It also boasts a house with five bedrooms for owners.
The Jura Hotel was renovated by the previous owners over the past decade. It is now ‘green-powered’ through solar panels and biomass.
The Jura Hotel front view, which shows its proximity to Jura Distillery.
One of two bars within the hotel, which also contains a restaurant, an alfresco terrace and bar and café overlooking the its camping and event field
There is a restaurant on the property that’s popular with visitors and locals alike.
The hotel is not the only accommodation available on the property. It also houses a 5-bedroom home for the owners.
At the front of the site is an alfresco terrace and bar and café overlooking the hotel’s camping and event field (pictured above)
Jura Island is a hilly island that boasts Paps and large deer forests. It’s most well-known for its world-famous whisky. The Jura Hotel has a distillery nearby.
“The Isle of Jura is a great place to escape the world and it has an incredible sense of remoteness and wilderness. It also offers a lot of historical information. George Orwell was there when 1984 was written.
The Jura’s west coast is difficult to reach, making it uninhabited. However, there are some beautiful beaches here.
Cameron also loves the whisky and has strong connections to the island.
His wife Samantha’s stepfather, Viscount Astor, owns a six-bedroom cottage on the island as well as the 20,000-acre Tarbert estate.
Mr Cameron previously revealed his love for the island and its famous whisky on Radio 4’s Desert Island Discs. The luxury item he chose was Jura malt whisky.