20 September 1996

£3.5m guide is set for big Isle of Man estate

By Louise Rose

WITH about half of the £3.5m guide price tied up in the main house – the land values on a 950-acre estate on the Isle of Man reflect a discount to those in the UK.

To the north of the island the Ballamanaugh Estate, Sulby, near Douglas, includes 912 farmed acres currently managed in-hand with arable and livestock enterprises – around 195 acres are eligible for cereal area aid payments.

And Tony Morris-Eyton, of agent Knight Frank, who is handling the sale jointly with island-based firm Chrystals says: "The better quality arable land at Ballacally is worth around £2000/acre and the in-bye grassland at about £900/acre."

Also, although the island is not part of the EU, the Manx government supports the islands agriculture mainly in line with the CAP says Mr Morris-Eyton.

The stock enterprises include a pedigree cattle herd at the 449-acre Ballamanaugh Home Farm, where much of the land has been reclaimed, and a sheep flock at Staward Farm (207 acres).

With three main steadings, the farm buildings total 65,000sq ft including a new sheep shed built in 1992 costing around £250,000 and grain storage for 170t at the home farm.

The main residence was rebuilt during the 1980s by the late owner Dr Daniel McDonald to include five principal bedrooms and staff accommodation, and within the 38 acres of grounds is a lodge and gardeners cottage.

Also the estate is lotted into 10, with each of the three farms available separately, and there are two plots adjacent to the villages of Sulby (2 acres) and Ballaugh (17.88 acres) with development potential.

&#8226 The Isle of Man benefits from a range of tax advantages and unlike the Channel Islands has no residency rules. The maximum income tax rate is 20% for individuals and companies with good personal and capital allowances – there are no death duties, inheritance or capital gains tax. However VAT rates are almost equivalent to the UK.


ISLE OF MAN FACTS


&#8226 The island is 33 miles longand 13 miles wide with the highest point at 2036ft.

&#8226 The main settlements are at Douglas, Onchan, Ramsey, Peel, Castletown, Port Erinand Port St Mary, and the 1991 census recorded a population of 69,788.

&#8226 Influenced by the Irish sea the islands climate is temperate, although there is often a strong south-westerly prevailing wind.

&#8226 Average daily temperatures range from 4.8C in February to 17.5C during July and August.

&#8226 At Ronaldsway on the south-east coast average rainfall is 34in.

&#8226 Main sources of employment include agriculture, fishing, tourism, financial servicesand manufacturing.

On the Isle of Man, The Ballamanaugh Estate, Sulby, includes 950 acres, a principal house and seven further dwellings – it is guided at in excess of £3.5m for the whole.