John Magnier picks up English estate for reported €52m
Bloodstock billionaire will control more than 4,000 acres in Hampshire
John Magnier: best known for his Tipperary bloodstock business, Coolmore. Photograph: Dara Mac Donaill
The majority of the land is leased to farmers. It is believed the family does not intend to change how the estate is run in the near-term.
The estate, about 60 miles southwest of central London, was offered through Savills for about £45 million (€52 million). It includes 24 homes and more than 4,000 acres (1,619 hectares) of land, according to the broker’s website.
A spokeswoman for Mr Magnier declined to comment. Zurich did not immediately reply to requests for comment.
Mr Magnier, a former shareholder in Manchester United, is best known as a breeder of thoroughbred horses through the Coolmore Stud operation in Co Tipperary. He also owns a property portfolio and is said to be a billionaire.
June’s Brexit vote is likely to have a muted impact on the market for agricultural land, as weak sterling creates a favourable buying environment for overseas investors, Savills said in December.
Zurich Insurance took control of Sutton Scotney as part of a takeover of Eagle Star Insurance. The UK firm had proposed building as many as 12,500 homes on the land, but Winchester City Council opposed the development as unsustainable.