Community Buy-out
The challenges created by private landlords came to an end in March 2002 when the islanders managed, with help from grants and loans from the National Lottery and Highlands and Islands Enterprise, to purchase the island for £4 million. They now own it through a development trust called the Isle of Gigha Heritage Trust. As a result 15 March, the day when the purchase went through, is celebrated as the island's "independence day". £1 million of the financial support was in the form of a short-term loan. The money to pay this loan back was largely raised by selling Achamore House (but not the gardens) to Don Dennis, a businessman from California. Dennis now operates a flower essences importing business and a boat tours company from the house, which is also rented out as a Bed and Breakfast business. An additional £200,000 was raised by the islanders through various fundraising ventures, allowing the loan to be paid back to the Scottish Land Fund on 15 March 2004. Since the community buy out several other private businesses have sprung up on Gigha providing a boost to the local economy, including the multi-award winning Boathouse Café Bar. The island's population and economy has begun to recover as a result of these activities.
In 2010 the historian James Hunter stated that the transfer of ownership had brought about "a spectacular reversal of Gigha's slide towards complete population collapse" and suggested that the UK Government should learn lessons from Gigha and other community buy-outs to inform their "Big Society" plans.
Read more about this topic: Gigha
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