Land of plenty: how to buy an Irish estate

Ireland’s emerald landscape is dotted with historic rural estates, thriving farms and fine castles, many of which date back to the 13th century. These substantial properties are ideal for international buyers seeking peace and privacy – as well as an investment.

Often remaining in a single family for generations, the most substantial estates rarely come up for sale – last year there was nothing new launched onto the market in excess of 400 acres, according to James Butler, director, Savills Ireland. “But this year is a good time to be looking – we have four available of that size,” he says.

Such estates are popular with Irish investors who are based abroad, but looking to purchase a property in their homeland, Butler says. “Typically they will have Irish ancestry within two or three generations and, with a successful career overseas, are seeking to spend some of their accumulated cash on an Irish estate. Land has always been a popular investment here.”

Yet the diversity of prospective purchasers has increased dramatically in recent years, with current interest from mainland Europe, North America, the Middle East, South Africa and Australia.

There’s also a younger breed of buyer keen to move swiftly when they find a property, as well as companies looking for an estate where they can host staff events or entertain clients.

Helped by favourable corporation tax and Ireland’s status as an English-speaking country within the EU, the economy is buoyant: several global tech and pharma companies have their European HQs here. The outdoor lifestyle – including golf, equestrianism and boating – is equally attractive, and the mild climate seems ever more appealing in an age of rising temperatures.

There are three key elements to the appeal of a historic Irish estate. The first is the prestige of owning a fine country house with views of water, park or woodland, one that offers maximum privacy and sufficient space for relaxed remote working and large-scale entertaining.

The second is the land that makes up the estate. Conservation, biodiversity and sustainability issues are increasingly important to investors, says Butler. “But in addition there are tax advantages when succession is considered. There are favourable inheritance-tax rates applicable to working farms compared to other types of property.”

Estates can often attract considerable interest for their potential as dairy farms. As the best-performing type of farming in Ireland in terms of profitability, it’s a solid investment at a time of stubbornly high inflation. The Brownstown Estate in Co Meath, an elegant Regency house set in 564 acres of land, has an in-hand herd of 335 Holstein dairy cows. In Co Kilkenny, the Kilree Estate comprises a six-bedroom 19th-century house, 468 acres of farmland that is currently used as pasture, and 48 acres of woodland that provide opportunities for conservation projects as well as income generation.

Diversification is the third and final factor to consider when appraising rural property in Ireland. Many farming estates have been adapted to provide alternative income streams that help to cover the cost of their upkeep.

The Belle Isle Estate near Enniskillen, in Northern Ireland, is a fine example of a mixed-use property, with holiday lets, wedding venue hire, shooting and fishing on offer in its 448 acres. Centred on a listed 17th-century castle, the estate is spread over several picturesque private islands and has more than six miles of water frontage on Upper Lough Erne. As a bonus, it has undergone a full renovation in recent years. As Butler explains: “Business owners or entrepreneurs in a hurry for a new home now often prefer a turnkey property that is ready to go, so they don’t have to wait for renovation and planning consents.”

The magnificent 12-bedroom mansion on the Barne Estate in Co Tipperary is set in 751 acres, with a lake and tennis courts. What makes this estate exceptional, however, is the quality and vast acreage of the farm – 13 fields extend to more than 30 acres, and three to more than 75. The estate has been in one family for 350 years and is attracting strong interest from investors, farmers and stud breeders – it is unlikely to remain on sale for long.

JAMES BUTLER, SAVILLS IRELAND
​​james.butler@savills.ie +353 1 663 4357

Pictures from top: the Belle Isle Estate near Enniskillen; the Kilree Estate in Co Kilkenny; the drawing room of the Brownstown Estate in Co Meath; the Regency house on the Brownstown Estate; and the Barne Estate in Co Tipperary