A Scottish castle can be yours, but you’ll never stop paying for it

Anyone longing to become the Queen or King of their very own castle need look no further than Scotland. Here, the fairytale is very much a reality, with about 10 properties offered every year.

For starters, 16th century Myres Castle, outside Fife, is on the market for £3.5m. There are no cauldrons of boiling oil, but you do get 10 bedrooms, five reception rooms, and 45 acres of grounds complete with a hedge maze, a walled garden and a tennis court. History lovers can shade under a tree that purportedly was planted by Mary Queen of Scots herself. Best of all, for some, Myres Castle is not far from renowned golfing club St Andrews and less than an hour’s drive from the capital Edinburgh. 

When such properties come on the market, they get loads of attention, according to Savills.

The four most-viewed properties in 2022 on the London-based agency’s website were Scottish castles. The House of Vaila, on the Shetland Islands, was top, generating 113,543 views. Around 46% of those came from the UK, with the US at 36%. And they are not just setting records for views, they are also setting records for sales.  Last year, Seton Castle in East Lothian sold for more than £8m,  the most expensive property sale ever in Scotland.

“Interest in Scottish castles remains strong, and increasingly coming from overseas,” says Jamie Macnab, the Savills agent representing Myres Castle. A buyer would be looking for a showy property to impress friends or clients, he says.

But living in a castle is not easy. The original purpose, after all, was to create a fortified residence. It was not built for comfort or modern living. Rooms are often cold and drafty and the opposite of sustainable, with many having coal- or wood-burning facilities for heat. (Myres Castle and its biomass heating system are an exception). Upkeep costs can be massive, running into the hundreds of thousands of pounds per year.

“There are absolutely considerable costs,” says Giles Hannah, who has advised on prime properties and was formerly at Christie’s. “The highest cost being staff obviously, but all the upkeep. Trying to maintain a moat … you can’t just call a normal contractor. You have to get specialist castle and building-certified individuals who have to work around strict planning laws.”

Hannah says the upkeep costs are similar to maintaining a superyacht — around 10% of the purchase price per annum. He warns buyers to be prepared to keep shelling out to keep their palace up to snuff, though he adds that is not why people buy them.

“They’re the ultimate status symbol in the UK,” he says. “People buying castles are not necessarily making a financial decision. They’re making simply a lifestyle choice … and just wanting to essentially have fun.”

Bloomberg