Whyte’s Highland hideaway goes on the market with price tag of £1.1m
IT has witnessed more turbulent times of late than at any other period in its long history.
But the historic Scottish castle that until recently belonged to former Rangers owner Craig Whyte has now been put on the market.
The decision to sell Castle Grant, near Grantown-on-Spey, Moray, comes only days after the keys to the property were returned to the bank, amid moves to repossess it.
Yesterday selling agent Strutt & Parker confirmed t he Highland hideaway was for sale with a price tag of offers over £1.1million.
Describing it as a ‘wonderful property’, spokesman Kevin Maley said: ‘Castle Grant is absolutely ripe for development, which could lead to it being one of the premier private houses in the UK.’
Designed by John Adam, the castle – ancestral home to the Grant family – boasts mature gardens, a landscaped loch with views to the hills of Cromdale and sits in 35 acres of land, well away from prying eyes.
It underwent a extensive refurbishment, which was largely completed in the early 1990s. The castle was then sold to
‘Remains undeveloped’
Monaco-based Mr Whyte for around £800,000.
Considerable development opportunities were highlighted at the time, although it is unclear whether all of the further work was actually undertaken.
Mr Maley added: ‘It is clear that a number of improvements have been made, however a large part of the property remains undeveloped and a significant amount of investment will be required to finish this.’
Some repairs have been carried out – mainly on the ground and first floors – to include a cinema room, ballroom, four bedrooms, bill i ard r oom, l i brary and kitchen. Most of the bedrooms have modern en suite facilities and part of the second floor incorporates a two-bedroomed self-contained guest wing.
Last week, Mr Whyte handed back the keys to the castle in order to stave off legal action by Bank of Scotland. It had been involved in a lengthy court dispute with him over mortgage arrears totalling nearly £50,000.
But as the locks were changed and security guards patrolled the grounds with dogs, Inverness Sheriff Court was told the matter had been resolved.
Whyte and estranged wife Kim bought Castle Grant with a 110 per cent mortgage and promised to spend millions restoring it and transforming the property.
However when their marriage fell apart, she moved out and he had been refusing to pay the mortgage instalments.
Even as the court settlement was being reached, Mr Whyte was removing items from inside the castle – including chandeliers and other expensive fittings – and loading them on to to a trailer to be towed away.
A f ormer employee l ater c l ai med: ‘ I f Whyte c ould dismantle the castle, he’d have that away as well.’
Mr Whyte is believed to be facing the prospect of being forced into bankruptcy over a deal during his time at Rangers.
His controversial takeover of the club – which later went into liquidation – has involved a police investigation, including a raid on Castle Grant.