Small businesses left out of pocket for completed work on Taymouth Castle, one of Scotland's most important heritage properties, will have to wait for the developer to sell luxury apartments in Surrey, a spokesman for the troubled project has said.
Small businesses left out of pocket for completed work on Taymouth Castle, one of Scotland's most important heritage properties, will have to wait for the developer to sell luxury apartments in Surrey, a spokesman for the troubled project has said.
Despite multiple attempts to turn Taymouth Castle into a luxury escape, the project has never come to fruition
Custom byline text:
by Colin Donald
Meteor Property Fund, the City investment company which owns the Grade A-listed 1840s castle in Kenmore in Perthshire, said that Farnham Developments Ltd (FDL), the company converting the castle and estate into a luxury Highland resort, had been forced into a CVA due to "cash flow problems" as well as unforeseen extra costs to shore up estate roads and bridges. A CVA, or company voluntary arrangement, is an agreement with creditors to stave off liquidation.
We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis. If you're a relatively new user then your comments will be reviewed before publication and if we know you well then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules, which are available here.
Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.
