The firm, which also operates the Kingmills Hotel in Inverness, intends to redevelop the 23,000 sq ft building, formerly known as Bridge House, into a 4-star hotel.

The four-storey and basement end terrace building is located on the west side of Church Street on a prominent corner position with Bank Lane close to High Street/Bridge Street within Inverness city centre.

Shepherd Chartered Surveyors sold the property on behalf of Threadneedle Pensions.

Sandy Rennie, partner in the Inverness office of Shepherd Chartered Surveyors, said: “This sale represents a very large disposal in the Inverness market and confirms the city’s growing reputation as a desirable location for hotel operators.

“The conclusion of this sale follows our recent sale of the adjacent building to Bridge House to Bar Revolution, formerly home to McEwen’s of Perth, and provides further evidence of a buoyant market for investment in Inverness’s buoyant hospitality sector.”