A mystery Russian tycoon is being named as the new owner of a Speyside castle that has played a part in the downfall of former Rangers owner Craig Whyte.
Castle Grant on the outskirts of Grantown was owned by the former Rangers owner but as his empire crumbled around the collapse of the Glasgow club the 16th-century castle was repossessed and placed back on the market.
Originally offered at £1.1million by estate agents Strutt and Parker, the asking price was later amended to offers over £1million – and according to property records the castle was snapped up by the Moscow-based businessman Sergey Fedotov.
A partner at Strutt and Parker, Kevin Maley, said that the castle had generated a “significant amount of interest” from prospective buyers in the USA, Australia and Singapore as well as Russia.
He said: “The new owner is already planning on spending a significant amount on refurbishing the castle and grounds, and it is reassuring to know that the ancient seat of the chiefs of the Grant Clan is in safe hands.”
Craig Whyte bought the castle for £720,000 in 2006 on a 110% mortgage, however the mortgage provider launched a civil action to recover its money at the start of last year.
Whyte, 43, was last week banned from being a company director for the maximum possible 15 years. A court heard that his conduct at Rangers had been “shocking and reprehensible”.
Dating from the 15th century, Castle Grant was originally known as Freuchie Castle when James Grant of Freuchie supported James V of Scotland. The castle was renamed in 1694 when the lands around it were made the regality of Grant.
Robert Burns is said to have visited Castle Grant in 1787.