Barholm Castle has changed hands three times since the 1960's, most recently in July 1999. This came at the end of two years and two abandoned attempts by the present owners to conclude the purchase. The acquisition comprised approximately 1.25 acres of surrounding ground to the west of the access road and looking towards Wigtown Bay, including the remains of the former walled garden. In late 2005, 1.5 acres of woodland to the rear of the castle and east of the access road were also acquired.

The castle was purchased with the objective of restoring it to its original role as a family residence. Because of its status as a Scheduled Ancient Monument and a Grade A listed building, any such restoration required the consent and involvement of Historic Scotland (H.S.), to ensure quality and authenticity; however, the relatively complete nature of the ruin meant that a restoration plan for the building would require little conjecture.

Following a request for H.S. to carry out a Merit Assessment, a first site meeting took place on the 20th October 1999. A positive opinion resulted from this visit, and application forms for an Historic Buildings Repair Grant were received in the early summer of 2000, and the application was filed in August of that year.