2 weeks ago

Billionaire Turns Dying Scottish Island Into $135 Million Revival

Billionaire Turns Dying Scottish Island Into $135 Million Revival
From a dying island to 100,000 trees: How a billionaire turned his $2.2 million Scottish buy into a $135 million revival · businesstoday.in

A very rich man named Wace bought a small island in Scotland called Tanera.

The island was not doing well, so he decided to fix it instead of keeping it as a fancy private vacation spot.

Workers repaired over 50 old houses and other buildings that had fallen apart.

They planted more than 100,000 trees and restored eight ponds full of native plants and clean water.

They also brought back old skills like weaving special cloth called Tanera tweed and fixing historic fishing boats.

The island now has a pub, a cinema, a gym, a sauna and a cookhouse for people to share.

More than 1,300 nurses, police officers and soldiers have come to stay there to rest.

The project gave almost 8,000 acres of land on the mainland to a local community group to look after.

The whole project has cost about £100 million, which is around $135 million.

Wace wanted to help the island and its community come back to life.

Key facts

Island involved
Tanera (Tanera Mòr), Scottish Highlands, Scotland
Purchase price
£1.7 million (reported as $2.2 million)
Total project investment
Roughly £100 million (reported as $135 million)
Buildings restored
More than 50
Trees planted
More than 100,000
Roads and paths created
About 4.5 miles
Freshwater pond habitat
About 1.5 million litres across 8 restored ponds
Mainland land gifted (2024)
Nearly 8,000 acres to the Coigach Community Development Company

Sources

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