The Roxburghe Hotel, near Kelso, has gone sale on the open market for offers over £3.25m.
That move comes after a planned sale of the 22-bedroom hotel and golf course at Heiton fell through in July.
A takeover deal with Bespoke hotels had been struck, and all 47 staff were due to retain their jobs, but negotiations collapsed after a major investor in the sale pulled out.
This week, however, the B-listed mansion and its 292 acres of grounds went on the open market.
Its owner, the 10th Duke of Roxburghe, Guy Innes-Ker, said: “The business has been a particular interest and focus of mine since it first opened as a country house hotel in 1982, which subsequently expanded with the development of the first championship golf course in 1995.
“It has given me enormous pride and satisfaction to see it develop successfully over the years, but it became clear that a new investor needed to come aboard for the Roxburghe to move to the next level and become a world-class destination.
“We look forward to seeing the Roxburghe continue to grow successfully in future in new hands.”
International real estate adviser Savills is marketing the property, built around 1810 as Sunlaws House and largely rebuilt after a fire in 1885. Prior to opening as a hotel in 1982, it was used as an estate office.
The 7,111-yard golf course has hosted the Scottish seniors’ open and various pro-celebrity charity matches, attracting players of the calibre of Nick Faldo, Colin Montgomerie and Sergio Garcia. Garcia holds the course record of 66.
Jamie Macnab, director of the country house team at Savills, added: “Golf, history and scenic beauty are three Scottish attributes which appeal to international visitors and buyers alike.
“The Roxburghe Hotel and golf course is set in a beautiful rural location which is rich in history.
“The golf course is highly rated and attracts players both locally and from all over the world.
“These attributes, combined with the opportunity for expansion with holiday lodges, provide potential for the Roxburghe to become a world-class destination resort.”
Planning consent has been granted for 60 self-catering holiday lodges, a new clubhouse and the conversion of the existing clubhouse into a 10-bedroom dormy house.
The hotel is currently managed by Inverlochy Castle Management International and Albert Roux.