The 13-bedroom White Horse farm hotel, near Pickering in North Yorkshire, has been sold at auction for £1.15m.
Sold to a Harrow-based buyer, the freehold property has been let to London & Edinburgh Inns at a current rent of £88,850 a year, exclusive of rates.
The lease provides for rent reviews every fifth year and contains fixed increases for the first 15 years, moving to open market rental value after that.
The rent for the first three reviews will be:
- From January 2008 – £100,500 a year
- From January 2013 – £113,700 a year
- From January 2018 – £128,600 a year
The auctioneers were Allsop & Co.