Once a private playground for royalty, there were fears the dilapidated island fortress would be left to crumble.

Kinloch Castle on the Isle of Rum is now up for sale, as part of an effort to save it from further decay. Interested buyers are presented with a “rare opportunity to restore one of Scotland’s most iconic island residences.”

This development follows two years after businessman Jeremy Hosking withdrew from a £10 million agreement to rescue the castle. This occurred after local leaders successfully persuaded Lorna Slater, the former Scottish minister for biodiversity and the circular economy, to intervene at the last moment.

The property, owned by the government agency NatureScot, previously faced the possibility of demolition unless a minimum of £10 million could be secured for necessary repairs.

Now, the castle—once visited by Edward VII—is listed for sale with offers starting above £750,000. This decision comes after research indicated that “most islanders agree the building should be sold for redevelopment and reuse.”

The study found that islanders ‘feel that the sale, redevelopment and operational use of the castle will have a positive impact on their community’.

Chris Donald, NatureScot’s Head of Operations for Central Highland, stated that for the islanders, the crucial aspect of any transaction is a buyer’s long-term commitment to benefiting the island’s community and environment.

He further explained, “We are therefore asking potential buyers to include in their offer plans for utilizing the castle and its grounds, as well as their strategies for supporting the nature, sustainability, culture, and economy of the Isle of Rum.”

Kinloch Castle, on the Isle of Rum, has been put up for sale

The Category A listed castle is on the market for offers over £750,000

Sir George Bullough with Lady Monica Bullough

In 2022 investment banker Mr Hosking – a former Tory Party donor whose net worth is estimated to be £380million – revealed his intention was to create a charitable trust to restore the castle so it could be operated as a hotel.

But Mr Hosking slammed the door on a deal, claiming he was ‘fed up being a pawn in a game’ between NatureScot’s ‘sensible head’ and ‘the anarchy head’ of Miss Slater’s department.

He told the Mail at the time that the Greens ‘have completely crushed a conservation project’.

Once a place where countless socialites, aristocrats and royalty went to enjoy lavish parties, the neo-Gothic pile built for playboy industrialist Sir George Bullough in 1900 has fallen into a state of disrepair since it was sold to the state in 1957.

But earlier this year the Scottish Government gave the greenlight for NatureScot to put the 20-bedroomed property on the market.

SNP minister Gillian Martin said in May: ‘All the views collected have helped me reach the decision that NatureScot can proceed to look for a buyer, with certain conditions of sale.’

The castle, which is being sold by Savills, was highlighted on the BBC2 Restoration series in 2003 but failed to win the £3million prize.

Government quango NatureScot, which owns the property, previously said it might have to be demolished

Potential buyers are being offered a ‘rare opportunity to restore one of Scotland’s most iconic island residences’

However, it caught the then Prince Charles’s interest who called a meeting to investigate a possible £12million restoration package. But his interventions failed to restore the castle.

Mr Donald said: ‘For the right buyer, this offers a rare opportunity to be part of Scotland’s heritage by restoring an iconic building and grounds which are of historical and cultural importance to the Isle of Rum and beyond. We look forward to hearing from prospective buyers and will of course be keeping island residents directly informed of progress.’