A PRIVATE island just a few miles from Sir Paul McCartney’s Scottish estate has had £100,000 slashed from its price.
19-acre Gigalum Island – off the west coast of Scotland – boasts a modern house, private beaches and its own jetty with breathtaking views of the surrounding islands.
It was put on the market last summer at the price of £550,000 – a bargain considering the privacy, stunning surroundings and Sir Paul’s Mull of Kintyre home 15 miles away.
But after six months with no takers the sellers have knocked a staggering £100,000 off the asking price.
The new £450,000 price tag would get you a three bedroom ground floor flat in Edinburgh’s upmarket Merchiston area. In London, the “slimmest house” in the city – just 99 inches wide – was recent put on the market for £450,000.
The island sits just a stone’s throw away from the Isle of Gigha – the most southerly Hebridean Island, with a population of just 110.
The only way to reach the mainland from the island is via a private boat to Gigha, before taking the ferry to the mainland in a trip that can take up to two hours.
The only address on the island is Gigalum House – a striking modernist octagonal building with four separate “wings” put up in 1980.
But the main attraction of the property is undoubtedly its surrounding land.
Along its sprawling coastline sit a number of white sand beaches, woods, rock outcrops and wildflower patches.
Seals live on the rocks to the south of the islands, whilst dolphins and otters can often be seen playing in the surrounding waters.
A scenic walk from the main beach at the lagoon takes you around the whole perimeter of the island – with views out to Jura, and even Northern Ireland.
No-one from sellers Rettie were available to talk about why the property had failed to sell at its original price.
But the firm’s Nick Ainscough insisted the island and its house were an excellent buy.
He said the eventual buyer would enjoy “rustic and charming accommodation on a spectacularly sited island with wonderful surrounding seascape and far reaching scenic views”.
Mr Ainscough added that there was the opportunity, subject to planning consent, to extend the house, develop renewable energy sources and even build additional dwellings.”
The nearby Kintyre Peninsula found fame when Paul McCartney – who has owned High Park Farm since 1966 – wrote the song Mull of Kintyre.
When Gigalum Island originally hit the market, it was described it as “the perfect solution for island hunters on a more modest budget”, well within reach of “everyday island dreamers”.
They went on: “Gigalum Island is available to purchase now for offers over £550,000 – meaning that for less than the average cost of a one-bedroom flat in London, you could be the proud owner of fully-developed 19.3 acre private island.”