Billionaire revives dying Scottish island with 100,000 trees and restored homes

In 2017, billionaire hedge fund manager Ian Wace purchased the 800-acre Tanera Mòr island in Scotland's remote Summer Isles for approximately £1.7 million ($2.2 million). Rather than transforming it into a luxury retreat, Wace initiated a substantial regeneration project that has since cost around £100 million ($135 million). The initiative encompasses restoring buildings, planting over 100,000 trees, reviving traditional crafts, revitalizing farmland, and constructing communal spaces.

The project also aims to bolster the broader Scottish Highlands community by generating employment and business opportunities for local workers, businesses, and craftspeople.

Situated off Scotland's northwest coast near the Coigach peninsula, Tanera Mòr was once a thriving center of Scotland's herring industry and the largest of the country's Summer Isles. In 2013, Wace initially observed the island for sale but did not acquire it immediately. He eventually bought the island in 2017, viewing its decline not as irreversible but as a chance to revive it while preserving its historical character and natural landscape.

The restoration effort has encompassed various aspects, including the renovation of more than 50 buildings, including historic cottages, to retain their original charm and adapt them for modern use. The project has also expanded the island's infrastructure, with over 4.5 miles of roads, paths, and other facilities to enhance accessibility and support the growing community.

Additionally, more than 100,000 trees have been planted to restore woodland, expand habitats, and create freshwater ponds and wetlands, contributing to around 1.5 million liters of water storage.

Traditional Scottish crafts have also been revived through the project, with restored herring luggers and a loom used to create Tanera tweed. Workshops have introduced activities such as sailmaking, breadmaking, art, writing, flower arranging, and land management, aimed at preserving cultural knowledge and providing skills training for island residents.

Shared community spaces, including a pub, chapel, art studio, cinema, gym, sauna, and communal cookhouse, have emerged to foster a functioning community atmosphere. By restoring both Tanera Mòr's buildings and its social life, the project seeks to create a thriving, self-sustaining island that honors its rich history and natural heritage for future generations.