The property, which includes a clubhouse, former driving range building and caravan park, was brought to market in February. Joint agents Shepherd Chartered Surveyors and Strutt & Parker oversaw the sale.

The Scottish golf course, designed by Ben Sayers, has been operational since 1907. The sale to Links Golf Club, also known as LinksDAO, was agreed in March. The organisation, funded through cryptocurrency, was established in 2022 with an ambitious goal of acquiring and managing golf courses.

LinksDAO is planning a significant revamp for Spey Bay, with ambitions of transforming it from a local holiday course into an international golfing destination. The group is currently consulting architects on the remodelling project.

Neil Calder, partner in the Inverness office of Shepherd Chartered Surveyors, said: “We are delighted to have secured a sale. There was an extremely competitive closing date and offers well over asking price were received. It is a rare opportunity to own a true links course in Scotland, the home of golf and we wish the new owners well in their venture.”

Euan MacCrimmon, director at Strutt & Parker, added: “The volume of enquiries for Spey Bay golf course was incredible, and we received enquiries and offers from a wide range of UK and international interests. We are delighted to secure this deal with LinksDAO and wish them all the best with their exciting plans for the course.

Property owner Colin Murray of Colin Murray Development stated: “We were delighted to appoint both Strutt & Parker and Shepherd Chartered Surveyors to be the joint selling agents on our behalf.

“The professional approach by both Euan and Neil gave us complete confidence from the outset. Their marketing approach to the proposed sale was excellent, which captured a huge interest from far and wide.”

The buyer organisation, funded through cryptocurrency, was established in 2022 with an ambitious goal of acquiring and managing golf courses. They reportedly raised $10.5 million (£8.54m) through a non-fungible token (NFT) fundraiser at the start of 2022.