17 Scots estates sold for £75m so far this year

Anna Henderson

At least 17 estates have been sold in Scotland so far this year for a combined value of £75 million — with one estate selling for 92% over the asking price — according to property agents CKD Galbraith.

The consultants said the political uncertainty caused by Brexit “appears not to have taken its toll on the volume of sales, nor on the total sales value, unlike during the Scottish Independence Referendum of 2014 when only seven estates changed hands.”

CKD Galbraith said it has been involved with more than 65% of all Scottish estate sales this year, assisting clients with either selling, buying or valuing both on and off-market.

It said more than a third of the estates sold so far this year were off-market and had a total price of £36 million.

Anna Henderson of CKD Galbraith’s premium property department, said: “At the start of the year we forecast that if the European Referendum was to have an effect, it would be to reduce the number of estates offered on the open market, and this has indeed proved to be the case.

“Generally this is due to nervousness in sellers that buyers won’t surface on the open market.

“Premiums over the asking price have remained at an average 13% — close to last year’s average — but the range has in fact been from 21% less than the asking price to a staggering 92% over.

“We continue to work with a number of buyers from England, Europe and worldwide who have an appetite for Scottish property.

“We have also witnessed high demand from those who already own land in Scotland, testament to the fact that they too remain optimistic about the future of landownership here.

“Scotland remains a mecca for those looking for natural beauty, affordability and privacy.

“The country is arguably the last true wilderness in Europe and its land represents extremely good value for money.

“With limited new stock coming to the market, buyers can greatly enhance their chances of success if they use an agent to help them, a fact that frustrated under-bidders and those who missed out entirely on private sales, are starting to recognise.”