Looking for Something Stately? There’s Nowhere Better than Wales!
As the prime property market in London and the southeast continues to grow, prices are seeing a steady recovery with both domestic and international investors pumping capital into bricks and mortar.
However, head west into Wales and the situation is not at all the same, with a number of stunning stately homes languishing unsold despite bold price reductions from sellers and strong efforts from property marketing firms.
Welsh Stately Homes Seeing Prices Slashed
Walesonline this week reported that a number of significant stately homes in the country were facing an uncertain future as huge prices cuts failed to bring in the buyers – with some of them having seen a succession of owners failing to turn around their fortunes.
Among those currently struggling in the property marketing stakes are Kimmel Hall, labelled “Discount Downton” by the Daily Mail, which has seen its price tag slashed from £13.5m in the height of the boom to just £1.5m currently. The 122 room mansion, which sits in 5,000 acres is known as the ‘Welsh Versailles’ and comes complete with servants quarters and Venetian gardens.
Cut-Price Turrets and Towers
Other prime Welsh property currently on the market at bargain prices includes Llanerchydol, a grade II listed Gothic revival style home in Welshpool, which boasts castle turrets Bryngwenallt in Flinshire which has its own 60ft tower. The two homes have price tags of £1,999,000 and £1,250,000 respectively.
Property marketing pundits commented that the homes, many of which have served a number of purposes beyond the residential during their lifetimes, are most likely to be taken on for commercial purposes, meaning that prices must reflect the investment needed to turn them into viable concerns.