Confidence continues to build in Scottish estates market

Confidence in the Scottish estate market is continuing to build in 2017 following the most active market in a decade last year, according to the latest research from Savills.

The market for estates in 2016 saw a total of 26 estate sales at a combined total asking price of £90 million: this included some significant and notable deals.

Savills rural agency director, Evelyn Channing said: “We believe terms have been agreed on seven estates so far this year, amounting to 37,000 acres with an accumulated asking price of around £45 million, including three sporting estates”.

Savills research indicates that 10 estates have so far been launched on the open market this year, amounting to more than 40,000 acres with a combined asking price of £40 million.

Ms Channing added: “There has been a notable uplift in the number of buyers making enquiries and viewing properties, in addition to an increase in the number of deals being struck on a private basis.

“We are seeing foreign interest being spurred on by favourable interest rates, following the Brexit vote, making Scottish estates stand out as exceptionally good value. We are continuing to see an upturn in interest from English buyers (in 2016 62 per cent of buyers were from the UK), most likely due to the fact that talk of a second Scottish independence referendum has been put on the back burner for the time being.

“Compared to other opportunities across the globe, a Scottish estate is considered to be a secure investment and represent outstanding value for money. Buyers continue to be attracted by Scotland’s scenic landscape and the excellent sport on offer.”