Swallow swoops on Highlands hotel

24 October 2005
Swallow swoops on Highlands hotel

The Craiglynne Hotel, Grantown-on-Spey, Highlands, has been sold at auction for £2.56m.

The 83-bedroom property was sold to a London-based buyer and let to Swallow Hotels, with a guarantee from London & Edinburgh Inns, on a new 25-year lease.

The current rent is £197,000 a year, exclusive of rates, subject to fixed increases at five-yearly intervals for the first 15 years and five-yearly to open market rental value thereafter.

The annual rent for the first three reviews will be:

  • From 2015 - £252,200

  • From 2020 - £285,300

The auction house was Allsop & Co.

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