Abergeldie Estate spending plan revealed

Key elements of millionaire Alastair Storey’s Abergeldie Estate spending plan have been revealed as we count the costs of the project – including his own lavish mansion.

The magnate is the chairman and chief executive of Westbury Street Holdings, the largest independent hospitality business in the UK.

Mr Storey became the next door neighbour to the Royals when he bought the estate along from Balmoral for £23 million in 2022.

The sale was the first time it changed hands in 500 years, and it brought an end to the Royal Family’s exclusive hunting rights over the land.

A view of the stunning Abergeldie Estate. Image: Fraser and Mulligan

Since then, he has been preparing plans to bring the “declining” expanse back to life as an “adventure tourism” mecca – boosting local jobs and welcoming hordes of wealthy visitors.

The tycoon is now on a mission to transform various crumbling buildings across the 11,500 acres.

We have looked through the latest building plans to tally the massive cost of the first stages of his plans…

Where will mansion be built?

When the businessman bought the land it did not come with its historic principle house – Abergeldie Castle.

It remains in the hands of The Baroness of Abergeldie, meaning it’s still in the possession of the same family it has been since the 15th century.

Abergeldie Castle near Ballater, Aberdeenshire. Image: Kenny Elrick/DC Thomson

The historic “fermtoun” of Bovaglie will instead become Mr Storey’s base of operations.

Bovaglie is known as an “ancient site of human occupation” and was important during the 17th century.

At the time, a drove road through the community was used to move goods and cattle from land north of the Dee to central Scotland.

It’s likely these movements were monitored in the tiny fermtoun.

How the Bovaglie “fermtoun” will be reborn under the Abergeldie Estate spending plans. Image: Yiangou

With around 16 houses, it was a “small but thriving community”.

Farming there peaked in the 19th century but declined following the Second World War, which is when the remaining buildings were abandoned.

The dilapidated steading there is now being demolished to make way for Mr Storey’s mansion, while the adjacent farmhouse will be done up.

Musician Paul Anderson plays Bovaglie’s Plaid by James Scott Skinner at the farm of Bovaglie:

How much will mansion cost?

Securing permission to create his own mansion there was an effort in itself.

The proposal was first lodged in the summer of 2022, but was withdrawn after coming in for criticism.

When revised plans were put forward months later, they were met with complaints it could “spoil The Queen’s favourite view”.

The blueblood has described the vista of Lochnagar from Bovaglie as “truly the most wild and majestic of sights”.

The mansion plans at Bovglie were front page news last December. Image: Roddie Reid/DC Thomson

However, after Balmoral Estate raised no objections, the scheme was eventually rubber-stamped.

And now building papers filed with Aberdeenshire Council this month reveal that Mr Storey is planning to spend £3.5 million on his new mansion at Bovaglie.

Further documents indicate that the demolition of the steading already at the spot is priced at £20,000.

This steading will be knocked down to make way for the new mansion. Image: Savills

Meanwhile, another building a few yards away will be converted into extra accommodation for friends and relatives to stay in.

This part of the project has been priced at £400,000.

The Bovaglie farmhouse which will be done up.

What else is Mr Storey planning at the Abergeldie Estate?

Building his own dream home near Lochnagar is just one small part of the millionaire’s major plans for Abergeldie Estate.

Since he purchased the land in 2022, he has lodged various plans to breathe new life into battered rural buildings.

Lochnagar and Loch Muick. Photo by Lewis Murchie.

And the work could reach quite a combined price.

Transforming Crathie Cottage, at Balmoral, into six apartments for visitors would cost £350,000.

More than £500,000 to be spent on new hunting base

Meanwhile, Fyvie-born food industry tycoon Mr Storey is also renovating Clachnaturn Farm.

This would be the base for hunting expeditions to be enjoyed by tourists.

The Balnacroft site is being altered. Image: WCP Architects

Building papers estimate that the new larder and storage units will cost £100,000 to build.

Plans worth £550,000 to alter and extend the 19th century Balnacroft Farmhouse have been approved too.

It will become accommodation and the estate’s facilities building.

How will Kennels with links to Queen Victoria be transformed?

The crumbling Kennels Cottage, at Balnacroft, will become a “bothy type” one-bedroom short-term let.

There would also be decking outdoors “to catch morning and summer evening sunshine” while the structure would be done up to meet modern energy standards.

The work is priced at £230,000.

The house at Balnacroft once belonged to the head gamekeeper or “kennel master” of the estate, which the royals leased from the 1800s until the 1960s.