Achiltibuie group gifted £1.7m donation from millionaire
AN Achiltibuie community development company has accepted a £1.7m donation from a financier to buy the majority of the 8887-acre Badentarbat Estate in Coigach.
Coigach Community Development Company (CCDC) was considering a community buyout of the estate earlier this year, but with none of the last four previous community buyout bids in the last five years successful, it was deemed to be a “longshot”.
But not long after, CCDC received a proposal from hedge fund manager Ian Wace, who offered to provide CCDC with the funds to buy the estate.
Ian Wace rose to local prominence following his purchase of Tanera Mòr in 2017 — the largest of Achiltibuie’s Summer Isles. His ownership of the Wester Ross island has secured over 150 local jobs.
Following a vote in which around 90 per cent of the community voted in favour of the proposal, Mr Wace’s offer was accepted — with the board officially approving the donation documents on October 21.
The organisation has repeatedly stated that its top priority is to secure affordable housing for the area.
As well as the deal with Mr Wace, the group has also been involved in a proposal currently being considered by Highland Council, to build ten new affordable homes in Achiltibuie.
CCDC said in community update: “Yesterday evening the Board of Coigach Community Development Company met and approved the documents which will allow it to accept the donation of £1.75m from Ian Wace (under the Donation Agreement negotiated between us) and to use those funds to buy the majority of the crofted lands in the Badentarbet Estate.
“Adam Blaker of Summer Isles Enterprises explained that Ian Wace was offering to donate money to enable the community to purchase the non-crofted parts of the estate, through CCDC as the appropriate registered body to hold land on the community’s behalf.
“CCDC is organizing an initial meeting for Badentarbet estate residents to discuss what they wish to happen next and explore opportunities together on November 27.
“Representatives from HIE and Community Land Scotland will be present and we are open to suggestions for other invited speakers/advisors. This will not be the only opportunity to engage. Crofters and other residents are welcomed and encouraged to continue to work with CCDC on future plans on an ongoing basis.”
The community update statement went on to note that if the group had refused the donation, Mr Wace would have bought the whole estate.
