Brough Lodge in Shetland is on the market for a very reasonable £30,000 – but needs £12 million in upgrades.
Cheaper than the price of most flats, property hunters can buy their very own castle on the Island of Fetlar.
Boasting two folly towers and 40 acres of land, the 200-year-old A-listed building is up for grabs for just £30,000.
However, the cost of renovating to the building means potential buyers may need a few spare million spare to cover the repairs.
The Brough Lodge Trust – who is in charge of restoring the building and selling the property – said there has already been an “encouraging response” to the listing.
‘A unique and very special opportunity’
The gothic crumbling castle was built by Lerwick merchant, Arthur Nicolson of Lochend in 1825.
A building of unique architecture, it is said the design was inspired by Mr Nicolson’s many tours around Europe.
The property itself is made up of a two-storey house, courtyard, walled gardens and folly towers. At one time, the 40 acre grounds even included a nine-hole golf course.
It has lain empty since the 1970s, until the Brough Lodge Trust worked to restore the building.
Following extensive repairs costing £500,000, the trust is now appealing for a “philanthropic entrepreneur” to take on £12 million plans to transform the site.
The “world-class retreat” proposals would help keep the existing building while creating 24 “stunning” bedrooms and an elevated restaurant.
In their pitch video, it is described as a “unique and very special opportunity”.
Speaking in the clip, a spokeswoman for the trust said: “The buildings and land are now offered for sale to someone with the passion and ability to transform the site.
“In this beautiful setting there is an opportunity to create an exceptional world-class retreat, offering an outstanding experience for guests.
“It would also make a contribution to the preservation of a priceless heritage and strengthen the economy of this island community.”
Potential buyers have already been in touch
The proposed plans would include offering guests the opportunity to learn and practice textile design and classes in other areas of Shetland’s heritage. Wellness-centred activities such as yoga might also be included in the programme.
Brough Lodge Trust director for the project, Drew Ratter, said a few potential buyers have already shown interest in purchasing the historic building.
He said: “Since the property was advertised towards the end of last year, we’ve had an encouraging response.
“Several potential investors have been in touch with our selling agents, Harper Macleod, some of them travelling to Fetlar to view the lodge and talk over the possibilities with trustees.
“One potential buyer has put forward a detailed proposal and we are exploring it with them, but we would nevertheless still be interested to hear from other philanthropic entrepreneurs, as we would wish to achieve the best possible outcome for both the building and the community in Fetlar.”
Fetlar is the smallest of Shetland’s three North Isles and is a 25 minute ferry journey away from the neighbouring islands of Yell and Unst.
The island of 61 inhabitants is well known for its variety of bird life, green landscape and rich fertile soil.
Brough Lodge Trust said all proceeds from the sale would go towards tuition in hand knitting for children, keeping the island’s heritage alive.
Conversation