This will allow South Cowal Community Development Company to put the funding towards purchasing the 143-acre estate which will preserve the buildings and create new jobs for local people.
Plans for the Castle Toward Estate include a national outdoor education company leasing and developing the Grade B Listed Baronial Mansion House, while the Gate House buildings would be transformed for a range of activities to be held, including a tea-room, bunk-house, self-catering units and retail workshops.
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John Watt, Scottish land Fund Committee Chair, commented: "Since opening to applications in June 2012, the Scottish Land Fund has helped to renew momentum to community ownership across rural Scotland. Today, a further six Scottish communities are being supported to take control of their own futures.
"In Argyll, plans to purchase and preserve a historically significant estate will lead to a substantial number of new jobs being created which will help to build a more sustainable future for those living there now and in the future."
Alan Stewart, South Cowal Community Development Company Chairman, added: "This kind of news doesn't happen very often and it will certainly lift spirits here in South Cowal. The local community have been behind the community buyout 100% over the past six months, attending open days, local meetings, fundraising events and even a record turnout for community ballot on the estate's future.
"This level of funding now means we can proceed in our continuing negotiations to purchase this estate for the community. It does feel as if the whole community has been rewarded."
(JP/IT)
