Its historic buildings had fallen into disrepair, its population had dwindled and much of the land had become overgrown. Wace paid about £1.7 million for the island, equivalent to roughly $2.2 million at the time, but instead of turning it into a private luxury retreat, he began a vast regeneration project. The initiative has since involved around £100 million, or about $135 million, and includes restoring buildings, planting more than 100,000 trees, reviving traditional crafts, rebuilding farmland and creating new communal spaces. The wider objective is to rebuild habitats while making the island's land more productive and resilient.The regeneration project has also attempted to bring back traditional skills associated with the region. In 2024, almost 8,000 acres of mainland land were gifted to the Coigach Community Development Company, according to the Financial Times.