Scotland's National Heritage authority announced that a historic 120-year-old castle on the remote inner island of Hebrid is up for sale, for £1.

In a statement, the authority said: "The Kinloch Castle is for sale for only £1, but with certain conditions. Any owner has to prove the ability to maintain the castle because it needs repairs worth £20 million. Also, he has to plan to improve the future of the island.”

The dilapidated castle was once part of the 19th century Island and a favourite place for partying, deer hunting, and fishing.

It was built by Sir George Bullough between 1897 and 1900. The palace, with its red sandstone towers, still houses the last of the old musical instruments which need £50,000 to be restored.

The authority looks for a charitable organisation or private company to take over the castle, in case there is not a buyer.

A spokesperson said: “Our priority is to protect and conserve nature in Scotland, therefore, we work to find an owner who will maintain it.”

He added, "Any future owner needs to contribute to achieving three main goals: Securing the castle's preservation, contributing to the island's sustainability and enhancing nature, and reducing the castle's harmful impacts on the surrounding environment."

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The castle is said to have once housed hummingbirds, turtles and alligators – which were later shot while supposedly trying to escape – in its custom-built hothouses.

Referring to the search for a new owner, a spokesperson for NatureScot, said: "Our priority is to protect and conserve Scotland's nature, so that is where we have to focus our resources.

"But we feel the castle will support the community with the right owner, and we have been working towards that goal over the past number of years.

"Kinloch Castle is not currently on the open market for sale. We are working to identify a beneficial owner for the castle and grounds.

"Any future owner will need to contribute towards three key objectives: securing the conservation and preservation of the castle; contributing to the sustainability of the Rum community; and enhancing nature on Rum, including promoting its enjoyment, and minimising the castle's impact on the natural environment."

The sale comes after a ruined 15th century castle on 'Treasure Island' built for Robert the Bruce's brother went on the market for a bargain £130,000.

Muness Castle on the Isle of Unst, the most northerly of the Shetland Isles, was built in the 15th century for Laurence the Bruce, the half-brother of the King of Scots. 

Unst is believed to have inspired Robert Louis Stevenson's novel 'Treasure Island'.

The low price tag is less than the cost of a £140,000 studio apartment above a Chinese supermarket in King's Cross, North London - which has a double bed in the same room as the kitchenette.