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Castle Mona auctioned off for £1.2m

15 May 2018 by
Castle Mona auctioned off for £1.2m

Castle Mona on the Isle of Man has been auctioned off after its sale last year fell through.

The 98-bedroom hotel was sold to an Isle of Man-based property company yesterday for £1.2m.

In October 2017, The Caterer reported that a buyer had agreed to pay considerably more than the £1m the 98-bedroom hotel was expected to raise at auction.

However, last month owner the Sefton Group announced the sale had fallen through and the hotel was brought to auction "to secure the long-term future of the building".

The property has stood empty for more than a decade and has been on the market since 2011. Originally built for the 4th Duke of Atholl, John Murray, in 1804, the iconic property became a hotel in 1835.

It boasts leisure facilities including two nightclubs, a bowling alley and a ballroom, food, beverage and banqueting operations plus parking for 70 vehicles.

The Sefton Group bought Castle Mona for some £4m in 2007 with plans to turn it into a luxury boutique hotel, plans which were scuppered by the global banking crisis of 2008.

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