A mystery buyer has taken ownership of the Isle of Man's landmark building, the Castle Mona hotel on Douglas Promenade, this week.
The buyer paid considerably more than the £1m the 98-bedroom property had been expected to raise at auction.
The historic property, which comes replete with towers and crenellations, has stood empty for over 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.
Previous owner the Sefton Group bought Castle Mona for some £4m in 2007 with plans to turn it into a luxury boutique hotel, which were scuppered by the global banking crisis of 2008.
The mystery buyer, a local developer according to regional media reports, is described by auctioneers Lambert Smith Hampton as a competent buyer who will deal with the property appropriately. Observers said a great deal of investment will be necessary to restore the hotel and adjoining leisure facilities to their former glory.
Completion of the sale is expected in the next few weeks.
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