A Game of Thrones castle can be yours for less than $1 million USD. The Gosford Castle, better known for its role in the hit series Game of Thrones, has been put on the market for much less than a king’s ransom.
Game of Thrones‘ Riverrun Castle
Known as the Riverrun Castle from epic scenes in Game of Thrones such as the season 1 execution of Richard Karstark for treason by Rob Stark, the Gosford Castle has hit the market for a low $656,452 USD. The site of the Red Wedding in season 3, the castle is getting a lot of attention from fans and those who wish to live like a king. The castle is located in Mullaghbrack Road, Markethill in Northern Ireland.
The 15 bedroom, 10 bathroom portion of the castle for sale may lack heating but has a surplus of beauty. The weather in Northern Ireland is heavily affected by the Atlantic Ocean meaning it changes often. The temperature in the area can range anywhere from 2.2 to 19.2 degrees Celsius. Peaking in July and August, reaching its coolest point in January and December. The castle was originally built for the 2nd Earl of Gosford and designed by Thomas Hopper in the Normal Revival Style. A style that started in the 18th century but gained popularity in the 19th century. However, the style was used more for public buildings rather than residences like this one.
Gosford Castle was actually the first attempt of Thomas Hopper at recreating this style. The interesting thing about this is it is one of the archaeologically correct examples of the design. The 27-acre property was sold by the Acheson to the Ministry of Agriculture after the World War II, making it and 590 acres of surrounding forest Northern Ireland’s first conservation forest.
Redevelopment and Sale
At one point in its history, the castle was in such a state of disrepair that it was put up for sale at £1 for those interested in renovating it. It was bought in 2006 for as little as £1,000 by Gosford Castle Development Ltd. The castle was converted into 23 residences but redevelopment was slowed in 2010 due to financial issues. However, residents moved in as early as 2008. The redevelopment process conserved as much of the original castle as possible. Using existing walls and stairways in most cases.
The parts of the castle being sold are six luxurious apartments each with an average of 3,500 square feet. The 15 bedrooms and 10 baths between them are separated as follows:
- Unit 4D The Inner Bailey with 5 bedrooms
- Unit 4E The Great Hall with 3 bedrooms
- Unit 5C The Old Keep with 5 bedrooms
- Unit 6A The Library Wing 3 bedrooms
- Unit 6B The Round Tower 5 bedrooms
Investing in Irish Real Estate
Investing in Irish real estate is advisable as the economy remains strong and the housing market is seeing a rise in housing prices. The current belief is that the prices of homes are rising due not to scarcity but capital flow into the country.
Renting out properties currently is very lucrative as there are a large number of migrants in Ireland. However, laws favor tenants and rental prices have decreased. As is standard across the board, renting out smaller units tends to be more profitable in the area. Transaction costs range from 4.94% to 13.20%. The capital gains tax in Ireland is 33%
The Irish real estate market appears to be stable, the only fear is if global capital ceases to flow into the country then housing prices may take a hit. Whether you’re a fan of Game of Thrones, you want to rent out to fans or you want to be able to say you own a castle, the Gosford Castle is a sound investment. Please avoid reenacting any of the bloodier scenes from the show.