THE family who own an eyesore York hotel now occupied by dozens of squatters are sitting on a £9 million fortune, according to documents obtained by the Evening Press.

Company directors Reginald Graham, 86, and his daughter, Melanie Boyd, 48, list the dilapidated White Swan Hotel, Piccadilly, among their extensive property portfolio.

Records for Graham Family Settled Estates Ltd reveal the London-based firm owns property in London, Bradford and Berkshire worth £9,010,000, as well as £20,000-worth of Old Master paintings.

But the documents hold no good news for York residents who hope to see the White Swan Hotel, voted the city's worst eyesore in a poll five years ago, sold on or brought back into use.

They state: "The principal activity of the company is the acquisition and holding of properties for investment and property management.

"There have been no significant developments during the year and none are anticipated in the forthcoming year."

When contacted by the Evening Press, Mr Graham, of Thurloe Place, South Kensington, said he was aware of the White Swan Hotel, but said he had no comment to make on its future. Last week more than two dozen activists entered the city centre property, which has been closed since the early 1980s, and declared it open as a "Rainbow Peace Hotel".

Their action follows years of uncertainty over the 1920s building and an investigation by City of York Council officers into its ownership.

The Companies House documents include an annual report that shows Mr Graham, who is the majority shareholder, awarded himself an interim dividend of £181,720 in 2002.

He and Mrs Boyd also paid themselves a salary of £50,000 each in that year, but their company, established in 1947, only recorded a profit of £58,000.

The records also reveal that the company's solicitors, Bircham Dyson Bell, who are taking action to evict the squatters, were paid £60,202 in fees.

Two partners in that firm, Michael Wood and George Josselyn, hold 175 shares in the company on behalf of two anonymous people.

Mr Wood also acts as the company secretary.

Updated: 10:22 Thursday, April 24, 2003