Swallow swoops on Highlands hotel
24 October 2005
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.
