Alexander Gillespie, who had been running the Hofwyl School at 188 Barkly Street, purchased Dashwood House, 168-174 Barkly Street, near the corner of Carlisle Street. In July that year the school was advertised as St Kilda Scotch College. 1902 was the last year it was mentioned in directories. After the school's closure, Gillespie continued to live in the house with his family.
Gillespie died on Saturday 30 November, 1924. He was survived by his widow, four sons and four daughters. His widow Margaret died on 27 March 1936 in her 92nd year. The house was demolished later that year and sold as a development site on 9 December 1936.