Mowi Scotland has confirmed its purchase of Sanda Island in Argyll and Bute off the southern tip of Scotland's Kintyre peninsula.
The company plans to establish a salmon farm off the east coast of the island as well as reinvigorate the island and develop its potential as a tourism destination.
The purchase of Sanda Island also includes the former hotel and houses, as well as Campbeltown shipyard and associated property, Sandbank House.
Mowi’s plans include refurbishing the hotel and housing, ultimately hiring caretakers to oversee the hospitality side of the business. As it has done in other island locations such as Colonsay, it will also establish yacht moorings to bolster tourism as well as seeking to improve accessibility between Sanda Island and the mainland.
"Our first priority now will be to consult with the communities of the area and develop a comprehensive biodiversity plan for the island," said Ben Hadfield, Mowi's Chief Operating Officer of Farming in Scotland, Ireland, the Faroes and Canada East.
"We will also undertake an environmental impact assessment for the proposed high energy salmon development."
Mowi said it is confident that Sanda Island offers an ideal location for salmon farming as it provides some protection from the island whilst harnessing the tidal currents and favourable environmental conditions to grow healthy salmon.
The company has begun the early-stage pre-application process with stakeholders and the local community.
Mowi has also purchased Fladda-chuain, an uninhabited island just off the northern tip of Skye. Further details of the company's plans for this island will be announced in due course.