Scottish sporting estates a safe haven for wealth in 2017

first_img Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily  Front Page newsletter and new  audio briefings. Evelyn Channing, rural director of estate agents Savills, said the estate sector was “inherently discreet” and purchasers and sellers often preferred to agree deals off-market where possible.The firm currently has over 100 registered buyers looking for a Scottish estate, with a total budget of £756 million, or around £7 million each to invest.Research by Savills showed that 65 per of estate purchasers in 2017 were from overseas, with viewers from areas including the Far East, Russia, Scandinavia, Australia and the US as well as Europe.The firm has also detected a significant increase in the number of enquiries since the general election in May, which it said was most likely due to the devaluation of sterling since the Brexit vote.Ms Channing said that against a background of political and economic uncertainty, the market was still seen as a “relatively safe haven for wealth”.She added there was now a far wider appreciation of what £5 million could buy north of the border, compared to London and the home counties, but it was the opportunity to fish for salmon, stalk red deer and shoot grouse in “wonderful surroundings” that was the main motivating factor behind estate sales. tulchan Tulchan in the Spey valley, with grouse moors above A total of 20 Scottish country estates were sold this year, despite the uncertainty created by Brexit and a lack of properties on the open market.Real estate experts said the perception of a quieter market for some of the country’s most expensive properties may be due to the fact that more than half the estates were sold privately, without being publicly advertised.Eleven were Highland sporting estates, or mixed estates, offering the full range of sporting pursuits, including stalking, shooting and fishing.The sales included Scotland’s most expensive sporting estate, Tulchan on Speyside, which boasts eight miles of salmon fishing on the River Spey as well as stalking and grouse shooting.The 21,000 acre property, advertised for more than £25 million, was bought by Yuri Schefler, a Russian vodka billionaire.Overall, activity was not far behind 2016, which saw 24 sales in the most active market for over a decade.last_img read more

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