Grant Thornton advised on cross-border purchase of Scottish Links course
Grant Thornton UK LLP’s Corporate Finance team in Scotland has advised on the acquisition of Castle Stuart Golf Links by leading international golf resort developer Cabot.
Canada-based Cabot has committed to significantly invest in the Castle Stuart course, which is located near Inverness in the Scottish Highlands and is regarded as one of the best golf courses in Scotland having hosted the Scottish Open four times.
Cabot’s plans for the resort, which will be renamed Cabot Highlands, include adding a second 18-hole course and building luxury homes, dining and retail facilities.
The new course will be developed around Castle Stuart’s 400-year-old castle and will incorporate natural contours, meandering through hillsides and expansive open land with several holes along the water. Planning for the course will begin in fall 2022 and construction will begin in 2023 with a planned opening in 2024.
Ben Cowan-Dewar, CEO and co-founder of Cabot, said: “Castle Stuart has been considered a benchmark of exceptional Scottish golf since it first opened thirteen years ago.
“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.”
Stuart McColm, General Manager of Castle Stuart and the forthcoming Cabot Highlands, said: “I couldn’t think of a better partner than Cabot to lead our next chapter.
“Not only is this significant golf news, it is also a major boost for the regional economy of the Highlands.”
Advising on the acquisition of Castle Stuart Golf Links is the latest deal in the buoyant leisure sector, marking a strong end to the first half of the year for Grant Thornton’s Scottish Corporate Finance team.
Neil McInnes, Corporate Finance Partner at Grant Thornton said: “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.”
The Grant Thornton team included David Andrew, Colin Park and Chris Ferguson.
This was posted in Bdaily's Members' News section by John Robson .