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Built around Keilarsbrae Mill and the adjoining Keilarsbrae House. The Mill was built in the early 1700s by a Mr. Keillar and was driven by water power via a lade from Gartmorn Dam. In 1819 the mill specialised in carpet and stocking yarns. A new steam powered mill was founded in 1834 specialising in blankets and worsteds. Patons (the wool manufacturers from Alloa) owned the property from the late 1800s until the 1980s. The mill was closed down well before 1980 however, the house used for a residence for Patons managers.
Keilarsbrae is now part of New Sauchie.