Is The Aristo News turning into a real estate blog? We hope not!
Well, Earl Compton, the heir to the 7th Marquess of Northampton, is selling the Tandridge and Chelsham Estate in Surrey. The estate, which is listed by Savills, has a sale price of ₤25 million.
The estate is only half an hour from London and fourteen miles from Gatwick Airport. Not bad. Rent from the various farming enterprises on the estate stood at ₤350,000 for last year. The income from residential, commercial and farming property stands at ₤450,000 per year. There are 9 farmhouses, 25 cottages, woodland and many more features on this vast ₤25 million estate.
This may be a nice payday for the Earl in this environment and you do get a lot for your money. However, we can't help but wonder if the aristo's are starting to feel the credit crunch. Let's not forget that the 2nd Baron Hesketh's trustees just sold a painting for ₤1,161,250, which was ₤38,750 under the ₤1.2 million guide price.
If our aristo's continue to sell their prized works of arts and homes, what will be next? Their titles? Only time will tell...
For more information on Earl Compton's ₤25 million estate, click here and here.
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