Castle Stuart Golf Links near Inverness has been bought by Canadian resort developer Cabot.
Soon to be known as Cabot Highlands, property will be a key component of the club, with sales expected to begin in 2023.
The legacy property will feature houses and cottages, alongside new retail and restaurant areas. When owners are not in residence, their homes will be available as accommodation for visiting guests.
Cabot plans to build a second course designed by architect Tom Doak, playing around Castle Stuart’s 400-year-old castle - which was a stronghold of the Earls of Moray and was built on land granted to James Stuart, the half-brother of Mary Queen of Scots.
The course will have 'significant water frontage', but will sit lower than the first course, with less wind exposure. Planning for the course will begin in this autumn, before construction starts in 2023, with an estimated completion date in 2024.
Ben Cowan-Dewar, co-founder and chief executive of Cabot, said: “We are honoured to be a steward of the land and carry the original vision for the property forward - our goal is to create unforgettable memories in magical places, and there are few places in the world more awe-inspiring than the Scottish Highlands.”
Retiring managing partner Grant Sword said: “Cabot is a perfect fit for Castle Stuart and I’m certain the future is rosy - I will be able to enjoy my retirement and playing golf at Cabot Highlands, knowing that Mark Parsinen’s vision will be taken forward and enhanced by a wonderful team.”
The original course was designed by Gil Hanse and the late Mark Parsinen.
General manager Stuart McColm and the existing team at Castle Stuart will continue as part of Cabot.
Stuart McColm said: “I’ve been involved with this special property since 2006 and I too can’t think of a better partner than Cabot to lead our next chapter.
“The future is hugely exciting and we can’t wait to deliver on the many great plans for Cabot Highlands that will bring a significant boost to the region’s economy while at the same time delivering a very special, world class golfing experience.”
Castle Stuart has hosted four Scottish Opens. Located minutes from Inverness Airport, it is routed along the shores of the Moray Firth, overlooking the Kessock Bridge and Chanonry Lighthouse.
The art-deco inspired clubhouse sits alongside a 350-yard practice range and a putting green. A new short course is open for preview play and set for opening during the 2023 season.
Cabot’s existing portfolio includes Cabot Cape Breton in Nova Scotia, the Cabot Saint Lucia resort - set to open in early 2023 - and the Cabot Revelstoke in development in British Columbia.
The company recently announced the acquisition of its first US property, in Central West Florida, soon to be known as Cabot Citrus Farms.
Grant Thornton advised on the sale from buyside. Scottish corporate partner Neil McInnes commented: “The acquisition of Castle Stuart by Cabot will bring significant investment and jobs to the local area, further boosting the North of Scotland's visitor economy.
“Cabot is a world-class operator of high-quality resorts and we are delighted to have supported them on this transaction through our international network.”
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