With the Coronation of Their Majesties The King and The Queen Consort taking place on Saturday 6th May 2023, we spoke to Fine & Country Leamington Spa Director, Jon Handford, to find out the approximate value of some of the country’s landmark royal properties. Famously regal and fantastically large, Jon put together his best estimated appraisals along with a look at land, location and internal accommodation on offer per home…
Sandringham Estate – Offers in Excess of £300,000,000
Jon identified 24 properties in total on the Sandringham estate itself, including 29-bedroom Sandringham Hall and 23 smaller buildings, of which 21 seem to be residential. Four of those properties are then split into smaller apartments. The house stands in a 20,000-acre estate with the gardens and country park comprising 600 acres of the estate and the gardens extend to around 50 acres.
Jon comments: “Lets be conservative and say that land value without any marriage value to the properties is £10,000 per acre. That would equate to £200 million for the land alone! The land that is classified as gardens would increase significantly as the planning category is different to that of arable farm or pastureland.
“The main building is 30,000sq. ft. on a single storey, so lets assume it is somewhere in the region of 70,000 in total. There are 23 smaller buildings, lets guess that the average size of these buildings are 2,500sq. ft., so 80,500sq. ft. total. That would be a total of 150,500 - lets be conservative and say that it is £700 a square foot. Bricks and mortar value £105,350,000 but the total with land would easily take it in excess of £300 million!”
Norfolk Farmland – Guide Price £91,907,400
As well as many royal residences, the King and his family own a staggering amount of farmland, particularly in the county of Norfolk, in the East of England. Jon comments: “When I sum the hectares for the areas I have established are likely arable farmland we reach 14,210 acres. There are also 300 rental properties in 13 villages in Norfolk, both commercial and residential. Lets assume that the 300 rental properties are the same as the average property price in Norfolk which is £306,358, this would equate to £91,907,400.”
Balmoral Estate – Offers Over £550,000,000
Balmoral Castle has been the Scottish home of the Royal Family since 1852, and the grounds are generally open to the public in the summer season. Jon estimates that the Balmoral main state is around 18,600 acres, while Delnadamph encompasses 3,100. Jon comments: “Assuming that there is 53,693 acres of land within the Balmoral and Delnadamph estate, I would say that land value without any marriage value to the properties is £9,000 per acre. That would equate to £483,237,000 for the land alone. There are 79 buildings within the estate (excluding Balmoral), assuming some are bigger than others but they fall in-line with the average properties in the Scotland. The average price in Scotland is £221,832. 79 x £221,832 = £17,523,728.
“Balmoral Castle is 32,083 sq. ft. just for the ground floor of the building. Without the visitor centre and buildings that sit around the periphery, meanwhile Birkhall looks like it is somewhere between 10,000 and 20,000 sq ft. I would estimate, that with the land and the bricks and mortar, a value over £550 million!”
Bagshot Park – From £30,000,000
In 2003, Prince Andrew, Duke of York acquired Bagshot Park near Windsor. The property leased included Royal Lodge, a Gardener's Cottage, the Chapel Lodge, six Lodge Cottages, and police security accommodation in addition to 40 hectares of land. Jon comments: “Assuming 100 acres of land - prime real estate in Windsor - is the equivalent of £15,000 per acre, we are looking at at least £1.5 million for the land. There are also eight ancillary buildings. Lets assume that they are the equivalent of the average local house price of £642,672. This would give another £5,141,376. Overall the value of the estate could be anything from £30 - £50 million.”
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If you want to find out the value of your home, whether it be a 400-acre estate, or a modest three-bedroom family home, find your local fine & Country agent.