‘Don’t get me wrong, I understand this is incredibly difficult for you. For all your family. But if Ellingham Investments takes the estate on, we need to fully understand the extent of the insolvency.’
‘Are you suggesting you would cover all the debts?’ Sebastian had assumed the investment package would come in the form of the purchase of the estate, leaving Sebastian to settle all outstanding debts out of his share of the sale price.
‘It’s a possibility. We look at all sorts of investment packages, depending what suits us and the prospective sellers. Obviously, everything is factored into and reflected by the final takeaway amount we would be able to offer you, but I’m sure you already appreciate the balancing act involved.’
Sebastian drew in a deep breath. ‘Yes. I understand.’
‘This is only a preliminary visit, Sebastian. A chance to dip a toe into the water, as it were. There’s a long way to go yet, a whole lot of valuations and accountancy work to be done before we’ll get close to a deal. We’ve got plenty of time to talk numbers. But what I want to say to you today is that Ellingham Investments is definitely interested.’
‘In the whole estate?’
‘Most probably, yes. The market is moving into destination holidays. Staycations are still a market leader, but we’re experiencing a real uptick in foreign visitors again, thank goodness. So, to have somewhere as spectacular as this, with enough room to create golf courses, spa buildings, maybe even continue with some of the traditional aspects of a stay in the Highlands – shooting grouse and holding ceilidh dances. Whisky-tasting. Tartan. It’s all very appealing. Timeless, you might say.’
Sebastian startled as there came a knock on the library door.
‘Come in.’
It was Jess. Her presence in the room seemed to allow all the static electricity he’d accumulated to seep out into the floorboards. She smiled, carrying a tray loaded with coffee pot, milk, sugar and delicate cups and saucers all taken from the plate room in the corner of the dining room. The monogrammed crockery oozed confidence and status, and although he was pleased Jess had thought to use it, he wasn’t sure he matched up to any of it.
Alongside the coffee pot was a small plate groaning with a pile of Kitty’s shortbread. Sebastian would recognise it anywhere.
As she offered to pour the coffee, Sebastian shook his head.
‘No need, I’ll do it. Thanks so much, Jess.’ For a moment he considered asking her to stay for the remainder of the meeting, then dismissed it. However much he could do with someone’s support – her support – there was no reason she would want to be involved in the estate’s money troubles. As the door closed softly behind her, and Sebastian dragged his gaze from her departing figure and onto the coffee tray, the shortbread caught his attention again.
‘I do have a question,’ he said, passing Ellingham a cup of coffee.
‘Fire away.’
‘The estate comes with a number of tenanted properties. Twenty or so cottages of various sizes, two farms and a handful of retail outlets. Pub, shop and so on. I would want to know that those people would remain safe in their properties. Some of them are very elderly and have lived on the estate all their lives.’
‘The farms would remain largely untouched, I would assume. I don’t always get involved in the minutiae, but in the short term I don’t think anything would change for them. Having people tending the land for us is beneficial. You mentioned the need for some urgent maintenance on almost all the properties, yes?’
‘The most urgent work is already scheduled to begin in the new year.’
Ellingham nodded. ‘As for the rest of the tenants? Well, let’s put it this way. Once the properties have been renovated to our exceptional standards, it’s a free market as to who wishes to rent them, isn’t it?’
‘But most of them have a lifetime tenancy agreement. You would honour those, wouldn’t you?’
‘What would you like me to say? I can assure you that everyone will be taken care of. But lifetime tenancy agreements are no more unbreakable than any other kind of a contract.’
‘That’s not the point though, is it? The Kirkshield Estate gave them its word. That they would have homes for life.’
‘No. The Barclay-Brown family made that promise. Things change, Sebastian. You want to sell those properties, and you must understand how unappealing it is for Ellingham Investments, or any investment company with the buying power you need, to invest money in property with sitting tenants, let alone lifetime ones? It’s like buying a building infested with rats, and not being allowed to bring in pest control.’ Ellingham frowned, looking down his aquiline nose at Sebastian. ‘I understand you don’t have a background in finance. I understand this is probably all very confusing for you. But it doesn’t need to be. Nothing is constant except for change, as my old granny used to say.’
Sebastian pushed his own coffee cup away, rubbing at his mouth with his fingers. He had assumed little, if anything, would change for the tenants – apart from having their properties brought up to required standards. This wasn’t part of his plan. And although many of the villagers had little time for the Barclay-Brown family, that didn’t mean Sebastian wanted to see them lose their homes. The sale of Kirkshield Estate was only supposed to affect him and his family. To get them out of the financial hole his father had landed them in.
‘Sooner or later, we have to do whatever is best for ourselves and our nearest and dearest, don’t we? If you were on theTitanic, and you spotted a free lifeboat, who are you going to get to climb aboard with you? Those are the people you need to protect now, too. Nobody in the village is going to be thrown onto the street. There are some very nice council flats in Inverness. And money-wise, there’s wiggle room in all our negotiations, Sebastian. But for now, I’ll thank you for the opportunity to look around your beautiful property and let you get on with your day. I think you’ve got plenty to think about and we’ll be in touch soon, yes?’
Once the meeting had reached its conclusion, and Sebastian had seen Edward Ellingham off his property, watching the helicopter lift, tilt and disappear into the gloom of more heavy snow clouds, he headed back inside. Shutting himself in the library, Sebastian stared at the plate of Kitty’s shortbread as he considered Ellingham’s words.
Jess heard the helicopter leave, deciding to give Sebastian some time to decompress after what would undoubtably have been a challenging meeting. She hoped he might bring the coffee tray back through to the kitchen himself, with everything settled satisfactorily. When there was no sign of him after a good thirty minutes, Jess told Digby to stay – a challenge the little dog was getting quite good at rising to – and she headed for the library.
Jess didn’t wait for a reply to her rap on the door, but pushed it open and peered round to see Sebastian at the desk, head in his hands.
‘What happened?’ she said. ‘Is everything OK?’
At the sound of her voice, he scrubbed at the sides of his face and attempted a thin smile. Then he shook his head. ‘I don’t know what to do.’
