The Failed $1 Deal: A millionaire businessman, Jeremy Hosking, originally agreed to buy the property for a nominal fee and invest millions into dry rot and restoration. However, the deal collapsed due to community concerns and disputes.
The New Price Tag: In August 2025, following a government study showing that local islanders support redevelopment, the castle went back on the market for over ÂŁ750,000.
Current Status (2026): The application deadline closed on April 9, 2026. NatureScot is currently vetting buyers based not just on money, but on their plans to protect the island's unique environment and community.