Islay House is on the market for almost one year and still not sold. Wether there will be a community buyout is uncertain. There hasn't been much news about this in the Ileach and when I contacted brian from the Ileach he wasn't sure either. What is sure though is that the price has dropped considerably due to the credit crunch as was reported by the Scotsman:
Islay House For Sale - Offers over Â£1.75 million
It was built in 1677 for the first Thane of Cawdor and a whole village was cleared so the laird could enjoy uninterrupted views of Loch Indaal. Margaret Thatcher reportedly held her war cabinet there and now it is owned by a man who helped to train pilots for Ugandan dictator Idi Amin. But today, Islay House, near Bridgend on the Inner Hebridean island of Islay, is worth Â£500,000 less than it was a year ago because of the credit crunch. Despite its 28 acres, five reception rooms, a ballroom, 24 bedrooms and nine bathrooms, the owner, Tom Friedrich, has cut the asking price from offers over Â£2.25 million to Â£1.75 million.
Perhaps lowering the price will speed up the sale of this magnificent house. If you're in for a bargain, now's the time!!