Tuesday, August 11, 2026
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Billionaire bought a dying Scottish island for $2.2m and spent $135m reviving it

A billio ai e bought a dyi g Scottish isla d fo  $2.2 millio  a d spe t $135 millio  b i gi g it back to life with 100,000 t ees,  esto ed homes a d  ew commu ity spaces

Whe
billio ai e
hedge
fu d
ma age
Ia
Wace
bought
Ta e a

i
Scotla d’s
emote
Summe
Isles
i
2017,
the
800-ac e
isla d
had
little
esembla ce
to
the
th ivi g
commu ity
it
had
o ce
bee .
Its
histo ic
buildi gs
had
falle
i to
dis epai ,
its
populatio
had
dwi dled
a d
much
of
the
la d
had
become
ove g ow .
Wace
paid
about
£1.7
millio
fo
the
isla d,
equivale t
to
oughly
$2.2
millio
at
the
time,
but
i stead
of
tu i g
it
i to
a
p ivate
luxu y
et eat,
he
bega
a
vast
ege e atio
p oject.
The
i itiative
has
si ce
i volved
a ou d
£100
millio ,
o
about
$135
millio ,
a d
i cludes
esto i g
buildi gs,
pla ti g
mo e
tha
100,000
t ees,
evivi g
t aditio al
c afts,
ebuildi g
fa mla d
a d
c eati g
ew
commu al
spaces.
The
p oject
is
also
desig ed
to
suppo t
the
wide
Scottish
Highla ds
commu ity.

How
a
billio ai e
bought
a
$2.2
millio
isla d
a d
tu ed
it
i to
a
$135
millio
evival
p oject

Ta e a

is
the
la gest
of
Scotla d’s
Summe
Isles,
located
off
the
cou t y’s
o th-west
coast
ea
the
Coigach
pe i sula.
Wace
fi st
saw
the
isla d
adve tised
fo
sale
i
2013
but
did
ot
pu chase
it
immediately,
a d
it
emai ed
o
the
ma ket
fo
seve al
yea s
befo e
he
eve tually
bought
it
i
2017.
Acco di g
to
the
Fi a cial
Times,
Wace
etu ed
to
the
isla d
a d
felt
it
was
“dyi g”,
but
i stead
of
viewi g
its
decli e
as
i eve sible,
he
saw
a
oppo tu ity
to
ebuild
it
while
p ese vi g
its
histo y
a d
atu al
la dscape.

The
p oject
has
si ce
g ow
i to
a
oughly
£100
millio
ege e atio
effo t
cove i g
buildi gs,
i f ast uctu e,
e vi o me tal
esto atio ,
employme t
a d
commu ity
i itiatives.Ta e a
has
a
histo y
st etchi g
back
ce tu ies
a d
was
o ce
a
impo ta t
ce t e
of
Scotla d’s
he i g
i dust y.
Its
he i g
statio
dates
to
1784,
whe
the
isla d
became
a
base
fo
p ocessi g
a d
expo ti g
fish,
a d
at
the
height
of
its
activity
a ou d
120
people
wo ked
the e.
Howeve ,
the
fishi g
i dust y
eve tually
decli ed,
while
mig atio ,
eco omic
cha ges
a d
wide
histo ical
eve ts
fu the
educed
the
isla d’s
populatio .
Ove
time,
ma y
buildi gs
we e
aba do ed
a d
the
commu ity
that
had
o ce
suppo ted
the
isla d
disappea ed,
leavi g
Ta e a
with
a
sh i ki g
populatio
a d
a
la dscape
that
i c easi gly
equi ed
i vestme t
a d
esto atio .

Mo e
tha
50
buildi gs
have
bee
esto ed

A
majo
pa t
of
the
ege e atio
has
i volved
b i gi g
Ta e a’s
eglected
buildi gs
back
i to
use.
Acco di g
to
the
isla d’s
ow
eco ds,
mo e
tha
50
buildi gs
have
bee
esto ed,
i cludi g
histo ic
cottages
a d
othe
st uctu es
that
had
falle
i to
dis epai .
Rathe
tha
eplaci g
the
isla d’s
cha acte
with
la ge
mode
developme ts,
the
p oject
has
attempted
to
etai
a d
esto e
existi g
st uctu es
while
adapti g
them
fo
mode
use.
The
ege e atio
has
also
c eated
oughly
4.5
miles
of
oads,
alo g
with
paths
a d
othe
i f ast uctu e
eeded
to
eco ect
diffe e t
pa ts
of
the
isla d
a d
suppo t
the
g owi g
umbe
of
people
wo ki g
a d
stayi g
the e.

Mo e
tha
100,000
t ees
have
bee
pla ted

The
t a sfo matio
has
also
exte ded
ac oss
Ta e a’s
atu al
la dscape,
with
the
p oject
epo ti g
that
mo e
tha
100,000
t ees
have
bee
pla ted
as
pa t
of
effo ts
to
esto e
woodla d
a d
expa d
habitats.
The
esto atio
p og amme
has
i cluded
eight
po ds
a d
the
pla ti g
of
hu d eds
of
ative
aquatic
pla ts,
c eati g
a ou d
1.5
millio
lit es
of
f eshwate
po d
habitat.
About
28
ac es
of
histo ic
ag icultu al
la d
have
also
bee
eclaimed,
while
old
o cha ds,
pastu es
a d
othe
a eas
of
the
isla d
a e
bei g
esto ed.
The
wide
objective
is
to
ebuild
habitats
while
maki g
the
isla d’s
la d
mo e
p oductive
a d
esilie t.

T aditio al
Scottish
c afts
a e
bei g
evived

The
ege e atio
p oject
has
also
attempted
to
b i g
back
t aditio al
skills
associated
with
the
egio .
Two
histo ic
he i g
lugge s,
the
Cla
Go do
a d
St
Vi ce t,
we e
acqui ed
a d
esto ed,
with
Ta e a
sayi g
local
boatya ds
co t ibuted
a ou d
16,000
hou s
of
skilled
wo k
to
the
vessels.
A
esto ed
loom
is
bei g
used
to
p oduce
Ta e a
tweed,
while
wo kshops
have
i t oduced
activities
i cludi g
sailmaki g,
b eadmaki g,
a t,
w iti g,
flowe
a a gi g
a d
la d
ma ageme t.
These
effo ts
a e
i te ded
to
p ese ve
t aditio al
k owledge
while
givi g
people
wo ki g
o
the
isla d
oppo tu ities
to
lea
a d
p actise
skills
that
we e
o ce
closely
co ected
to
life
i
the
Scottish
Highla ds.

New
commu ity
spaces
a e
cha gi g
the
isla d

I stead
of
c eati g
a
collectio
of
isolated
p ivate
eside ces,
the
p oject
has
developed
sha ed
spaces
i te ded
to
suppo t
a
fu ctio i g
commu ity.
A
fo me
qua y
has
bee
t a sfo med
i to
a
ope atio al
ce t e
co tai i g
offices,
accommodatio
a d
wo kshops,
while
othe
facilities
i clude
a
pub,
chapel,
a t
studio,
ci ema,
gym
a d
sau a.
A
commu al
cookhouse
also
p ovides
a
ce t al
gathe i g
poi t
fo
people
wo ki g
a d
stayi g
o
the
isla d.
The
app oach
eflects
Wace’s
wide
ambitio
to
esto e
ot
just
Ta e a’s
buildi gs
but
also
the
social
life
that
disappea ed
as
the
isla d’s
o igi al
populatio
decli ed.

The
isla d
ow
welcomes
public-se vice
wo ke s

O e
of
the
most
u usual
pa ts
of
Ta e a’s
t a sfo matio
is
its
p og amme
fo
people
wo ki g
i
dema di g
public-se vice
oles.
The
isla d
has
hosted
wo ke s
f om
p ofessio s
i cludi g
the
NHS,
police
a d
a med
fo ces,
givi g
them
a
oppo tu ity
to
spe d
time
away
f om
thei
o mal
wo ki g
e vi o me ts.
Ta e a
says
mo e
tha
1,300
public-se vice
wo ke s
have
take
pa t
i
esto ative
stays
si ce
the
p og amme
bega .
Guests
ca
also
pa ticipate
i
activities
co ected
with
the
isla d’s
ege e atio ,
i cludi g
ga de i g,
t ee
pla ti g,
path
buildi g
a d
othe
p actical
wo k,
combi i g
a
pe iod
of
est
with
i volveme t
i
the
esto atio
of
Ta e a
itself.

The
evival
has
c eated
jobs
i
the
Highla ds

The
p oject
is
also
i te ded
to
p ovide
employme t
a d
eco omic
oppo tu ities
i
o e
of
Scotla d’s
mo e
emote
egio s.
Ta e a
says
mo e
tha
60%
of
its
full-time
wo kfo ce
comes
f om
the
Scottish
Highla ds,
while
a ou d
150
people
ca
be
wo ki g
a d
stayi g
o
the
isla d
at
a
give
time.
The
p oject
says
it
wa ts
to
c eate
lo ge -te m
oppo tu ities
athe
tha
ely
e ti ely
o
tempo a y
co st uctio
wo k,
with
the
b oade
ambitio
of
e cou agi g
people
to
emai
i
o
etu
to
the
Highla ds.
The
scale
of
the
ope atio
ep ese ts
a
majo
cha ge
f om
the
ha dful
of
people
associated
with
Ta e a
whe
Wace
pu chased
the
isla d.

The
p oject
has
expa ded
beyo d
the
isla d

Wace’s
pla s
eve tually
g ew
beyo d
Ta e a

itself
a d
i to
the
su ou di g
Coigach
egio .
I
2024,
almost
8,000
ac es
of
mai la d
la d
we e
gifted
to
the
Coigach
Commu ity
Developme t
Compa y,
acco di g
to
the
Fi a cial
Times.
The
wide
p og amme
has
also
i volved
esto atio
wo k
at
p ope ties
i cludi g
Ach ahai d
Fa m,
while
the
histo ic
Summe
Isles
Hotel
is
u de goi g
a
majo
efu bishme t
a d
is
expected
to
eope
i
2027.
The
expa sio
mea s
the
p oject
is
o
lo ge
focused
solely
o
esto i g
o e
isla d,
but
is
i c easi gly
co ected
to
the
eco omic,
cultu al
a d
e vi o me tal
futu e
of
the
su ou di g
Highla ds
commu ity.

Ta e a
is
ow
pa t
of
a
cha itable
t ust

I
2020,
Ta e a
was
t a sfe ed
i to
a
cha itable
t ust,
givi g
the
p oject
a
fo mal
st uctu e
a ou d
its
b oade
objectives.
The
isla d
ow
desc ibes
its
wo k
th ough
th ee
ce t al
themes:
ege e atio ,
esilie ce
a d
esto atio .
These
i clude
ebuildi g
i f ast uctu e,
esto i g
atu al
habitats,
c eati g
employme t,
p ese vi g
he itage
a d
p ovidi g
esto ative
expe ie ces
fo
public-se vice
wo ke s.
As
a
esult,
Ta e a
is
ot
simply
bei g
developed
as
a
billio ai e’s
p ivate
et eat.
I stead,
the
p oject
is
attempti g
to
combi e
p ivate
fu di g
with
cha itable
activity
a d
lo g-te m
e vi o me tal
a d
commu ity
goals.

F om
a
decli i g
isla d
to
a
livi g
commu ity

Ta e a
Mò ‘s
t a sfo matio
is
still
u de way,
but
the
scale
of
the
cha ge
si ce
2017
is
st iki g.
A
isla d
o ce
ma ked
by
aba do ed
buildi gs,
decli i g
populatio
a d
eglected
la d
ow
has
esto ed
homes
a d
commu al
spaces,
ew
i f ast uctu e,
evived
t aditio al
c afts,
ege e ated
fa mla d
a d
mo e
tha
100,000
ewly
pla ted
t ees.
What
bega
with
Wace’s
pu chase
of
the
isla d
fo
about
$2.2
millio
has
evolved
i to
a
ege e atio
p oject
i volvi g
a ou d
$135
millio ,
maki g
Ta e a
a
u usual
expe ime t
i
whethe
a
emote
isla d
ca
be
b ought
back
to
life
by
ebuildi g
its
e vi o me t,
eco omy
a d
commu ity
at
the
same
time.

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