Entrepreneur Peter de Savary has sold the Carnegie Club at Skibo Castle in the Scottish Highlands for a reported å£30.5m and is preparing to develop a new retreat in Devon.
According to recent industry reports, de Savary has purchased Bovey Castle in Dartmoor National Park for an undisclosed sum and is set to spend $12m on refurbishing the Great House and its grounds to encompass extensive leisure facilities, including a health spa, swimming pool and equestrian centre.
Together with 11 miles of salmon and trout fishing, the estate also comprises an historic championship golf course, which will be restored by golf course and landscape architects Donald Steele and Tom Mackenzie, as part of the new venture, which is expected to open in the spring of 2004.
De Savary, chair and founder of Skibo, ended his 13-year association with Skibo Castle by selling the Scottish estate to a small group of Carnegie Club members for a reported £30.5 million.
The sale of Skibo Castle was prompted by US pension fund Westbrook Global Partners` decision in January to sell its majority holding.