Shetland castle on sale for £30,000 but needs £12m upgrade

A castle in Shetland is on the market for just £30,000 – but any potential buyer will also need a spare £12m.

House-hunters could snap up Brough Lodge on the island of Fetlar for less than the price of a flat.

The 200-year-old property is set in 40 acres of land, with folly towers, a courtyard and walled gardens.

But investors have been warned they will need deep pockets to cover the cost of the renovations to the building, which dates back to 1820.

The Brough Lodge Trust – which was formed in 1998 to preserve the building – has appealed for a “philanthropic entrepreneur” to take on its plans to transform the site into a world-class retreat.

Their proposals would retain the existing building, as well as creating 24 bedrooms and a restaurant.

Brough Lodge is category A listed building of national significance and is situated on the north-west end of Fetlar.

It was built by a merchant called Arthur Nicolson and it was based on architecture he had seen while travelling in France, Switzerland and Italy.

A unique structure on the island of just 61 people, it has lain empty since the 1980s when the last Lady Nicolson moved out.

The last heir of the Nicolson family, Olive Borland, transferred ownership of the estate in 2007 to the Brough Lodge Trust and is one of the trustees.

Since taking over the estate, the volunteer-run trust has spent more than £500,000 of donations to make the property watertight and add a new roof.

Its sale price of £30,000 is substantially less than the average price of a house in Scotland – in August last year that was calculated at £195,391 by HM Land Registry.

But the trust estimate that it will cost the buyer £12m to complete the development.

“The vision is simple but effective,” the trust explains on its website.

“Under the plans we have developed, the building’s historic character would be fully respected.”

As well as enjoying sweeping views of the North Sea, guests at Brough Lodge would have the opportunity to do yoga and textile classes, and experience Shetland traditions of knitting and weaving.

The proceeds of the sale of the lodge would go towards tuition in hand knitting for children, keeping alive a key element of the islands’ artistic heritage, Brough Lodge Trust says.

As well as bringing tourism to the island, the trust said the proposed works would bring economic benefits to the island with the creation of 14 jobs.