SCOTLAND'S most expensive modern mansion has gone on sale for £3.4 million after its owner - former Rangers shareholder Graham Gillespie - was declared bankrupt.

Luxurious Kirkton Park, which sits in seven acres of ground near the Gleneagles Hotel in Perthshire, is believed to have cost the ex-mining tycoon up to £10m to build.

Mr Gillespie, a friend of Graeme Souness and Sir David Murray, was declared bankrupt in 2012 with debts over £12m.

Reports last year suggested he owed £7m to the Bank of Scotland, who have put the eight bedroom villa up for sale after Mr Gillespie moved out 11 months ago.

Estate agents Rettie describe the property, with a four-car garage, billiards room, spa and swimming pool, as "one of Scotland's finest contemporary homes".

The 1.8 metre high stone wall built to house the property and land is believed to run to one kilometre.

Selling agent Chris Hall said: "Regardless of the circumstances of the sale, you have to take your hat off to Mr Gillespie and his architect.

"They created an exceptional property to a very high standard, with a great deal of consideration and care.

"No corners were cut, no expense was spared.

"At offers over £3.4 million, it will be the most expensive modern house on the market in Scotland.

"However, this is substantially less than the construction costs, which are estimated to be between £7.5 and £10 million."

Mr Gillespie, who represented Scotland at showjumping at one time, was declared bankrupt after his friend Gregg Ross moved to recover a £500,000 loan, including interest.

The action followed years of costly legal battles between the 55-year-old, who made his fortune through open-cast mining and property development, and his three brothers over the wealth generated by a number enterprises in their family business.

In 2011, Mr Gillespie was ordered to give £250,000 to his brother Steven for his stake in the £1m sale of a golf course and housing development to former Rangers boss Sir David Murray.

In the same year, he and his son Scott were forced to hand over more than £171,000 to the family business, Gillespie Investments Limited (GIL), following a bitter feud which was played out at the Court of Session.

During the court hearing it emerged that Mr Gillespie had made payments from company funds to a "professional gambler" that were for his "personal benefit" and to two aviation firms which were "not business expenses".

Judge Lord Hodge was also told of an allegation that he broke his brother's skull, as well as hearing claims of phone call in which Steven Gillespie threatened to pour petrol over a man to make him talk.

The property at Kirkton Park, completed as recently as 2008, features six bedroom suites, plus two more bedrooms in a staff wing.

The drawing room is decorated with elaborate cornicing and ceiling rose.

The kitchen comes with marble worktops, twin Sub Zero fridges, four freezer drawers, microwave and coffee machine. There is also a 'walk-in' wine cellar.

The spa features a pool with swim jet, overhead water deluge fountain and raised water jet seating areas.

The pool is complimented by a walk-in shower area, steam room, Rasul Mud room and a 'Salt Cave' with two heated benches.

Mr Hall added: "It is an expensive house in the Scottish context but if you wanted to build a house of this quality, it is going to cost you an awful lot of money."