Instead of taking some seven hundred hectares of land at the north end of the island into community ownership, the Bute Community Land Company (BCLC) now has 161 hectares under its direct control, and has sold the rest of the land acquired from Lord and Lady Attenborough - most of it commercial forestry - to the Mount Stuart Trust.

However, BCLC's directors have negotiated amenity rights to use the land they have sold to the Trust for nature trails, cycle paths and the development of a hydro power scheme.

It is hoped that the buy-out - which was enabled by a grant of £356,520 from Highlands and Islands Enterprise - will create around 45 jobs and bring in some £8.4 million to the local economy over the next ten years.

The commercial forest area was in line to be sold to a private investment fund in order to make up the financial shortfall, but the land company's directors changed their course after the Trust expressed an interest and the Attenboroughs made clear their preference that the land be sold to a local buyer.

BCLC chairman John McGhee said: "The purchase of the forest has been a huge challenge for us, particularly given the lack of public funds, but what is fantastic is the way the community has pulled together and demonstrated its ingenuity and determination to have a say in the future prosperity of the Island.

"HIE has granted us 50 per cent of the funding required to employ a full-time project manager to drive the project and we have applied to LEADER for the remaining funding for the post.

"We have also identified a variety of sustainable, income generating, initiatives that will provide the necessary investment to achieve what we want, including a hydro scheme which we believe can generate £37,000 a year."

In a statement the Attenboroughs said: "We have owned our house on Bute since 1988 and are very happy to continue to live there.

"Shortly after purchasing the property we completed the planting of the forest, and are now delighted to have sold a proportion to the local community and another to the Bute Estate.

"Having grown to love the island, we are thrilled that the woodlands will remain in safe hands."

The forest was put up for sale last August, and BCLC was formed the following month to apply for permission to buy the land under the terms of the Land Reform Act.

A petition of 1,700 signatures in favour of the buyout was gathered in the space of a single week, and in a community ballot on the proposal in February, 93 per cent of those voting gave their support to the buy-out plan.

* More on this story in this week's edition of The Buteman, on sale on Thursday.