British businessman Jeremy Hosking is behind the charitable trust which could buy historic Kinloch Castle from NatureScot – the first new owner in 65 years if the deal goes through – but just who is he?
Mr Hosking has an extensive background in investment and private equity and is believed to be worth around £375m – being ranked number 351 in the Sunday Times Rich List in 2019.
NatureScot has maintained Kinloch castle on the Isle of Rum since 1957 but is now in advanced discussions for a new owner to take over.
If approved, the castle will be put into a charitable trust where it will be maintained and upgraded into a future tourist attraction.
Passion for old steam trains
As part of discussions, NatureScot is seeking an “irrevocable pledge” from the trust “when and if” established by Mr Hosking.
But just why is Mr Hosking so interested in a Scottish Castle on an island seven miles south of Skye?
The key may lie in a combination of the 62-year-old English businessman’s passion for restoring old steam locomotives – and what are thought to be childhood memories of holidays in the area.
Mr Hosking is a railway buff and owner of several steam and diesel locomotives.
He operates Locomotive Services and also founded the Royal Scot Locomotive and General Trust to purchase 6100 Royal Scot.
The Trust owns steam locomotives and manages workshops at Crewe in north-west England.
In 2016, Hosking also bought a stake in the Dartmouth Steam Railway which runs the Paignton to Dartmouth heritage service in Devon.
Business background
Mr Hosking accumulated his wealth through investment and private equity, including as a co-founder and investment portfolio manager for private investment fund Marathon Asset Management.
The businessman is also a shareholder of Crystal Palace football club in south London.
Mr Hosking split from Marathon in 2012 and later that year established Dublin-listed asset manager Hosking & Co.
Backed Vote Leave
In March 2010, Mr Hosking acquired the Gravetye Manor country hotel in Sussex. He became part of a consortium which bought Selhurst Park and Crystal Palace out of administration in the same year.
The businessman was a former donor to the Conservative Party and backed Vote Leave in the Brexit referendum in 2016.