• Sale price marks a several million euro investment
• Historic properties: demand from China is on the rise
Hamburg. The fairytale-like Renaissance Castle Ramholz now has a new owner. An overseas entrepreneur acquired the aristocratic residence near Frankfurt for a sales price of several million euros. “The parties involved have agreed not to disclose the precise transaction amount,” said Christoph von Schenck, Head of the business segment Castles and Manor Houses at Engel & Völkers. Castle Ramholz is situated in the historic grounds of Ramholz Park, in the Vollmerz quarter of the town of Schlüchtern, around 40 kilometres southwest of Fulda. The city of Frankfurt and Frankfurt Airport are just one hour’s drive away. The estate comprises an ensemble of buildings that includes old and new castle wings, an orangery, a former garden nursery, a farm and 15 hectares of landed property. The interior living space amounts to more than 5,500 square metres, with a total of 115 rooms. Both the castle and its park estate are classified as a landmark of important cultural heritage by the heritage protection laws in the German state of Hesse. According to Christoph von Schenck the change of ownership will bring positive changes to the estate: “The buyer emphasized his concern to protect the historical heritage of Castle Ramholz and to preserve the value of the property.”
An exquisite interior sourced from throughout Europe
The stately residence is rich in authentic tradition: Castle Ramholz was built between 1893 and 1895 by the industrialist Hugo Freiherr von Stumm as an extension to the castle erected by the Hutten family in 1501. Stumm commissioned the famous brothers Gabriel and Emmanuel Seidl as architects for the project. They designed the castle in a historicist style, incorporating period features from the Renaissance, Baroque and Tudor periods. To this day, the castle forms an amalgamation of diverse architectural styles and design epochs. Amongst the furnishings and decorations are many personal mementoes of previous castle owners – testimonies to the eventful lives that played out behind these ancient walls. The interior features memorabilia from throughout the whole of Europe. On practically every wall in the property hangs the painting of a more or less famous painter. Historic fireplaces originating from Italian Renaissance palaces, wooden wall panelling, tapestries, door carvings, valuable antiquities, and marble and parquet floors are just some of the exquisite rarities that have just changed hands together with ownership of this estate.
Interest from overseas in German castle properties is increasing significantly
The sale of historic estates is very complex and there are enormous differences amongst the clientele. “The target group for castles and other historic properties is rarely contained simply to the local region,” said Mr. von Schenck, who enjoys access to the international Engel & Völkers network and a global client base for his brokerage activities. “This is a particularly important aspect for such exceptional properties, which we are able to offer for sale across markets,” stressed the heritage expert. The market has developed positively over recent years, as exclusive properties are extremely popular as special-class assets in any case. Historic properties also offer the potential for a wide variety of different usages, which is one key reason why they are attracting the interest of foreign investors too. As well as buyers from the former CIS states and the Arab world, Mr. von Schenk is registering a growing level of interest from buyers based in China.
Like the interested clients themselves, the motivations for buying an estate are very different. Investors and project developers look for historic properties with a view to commercial usage as a company headquarters, a restaurant, hotel, conference and seminar centre, as holiday apartments or an events venue. Private individuals are motivated by very different reasons to buy. In many cases, they are people who have an entrepreneurial background and wish to fulfil are lifelong dream with the purchase of such a home. “In the case of clients from China, they are often driven by a very pronounced awareness of traditions, and the desire to acquire a part of history in the form of a castle or palace, and to live out the myth of the lord of the castle,” Mr. von Schenck added.
(Source: Engel & Völkers/Andreas von Einsiedel)
1. Towers, bay windows and an ivy-covered façade – Ramholz is reminiscent of the archetypal fairytale castle.
2. The spacious interiors reflect a multitude of eras and styles from the Renaissance to the Baroque and Neo-Rococo.
For further information please contact:
ENGEL & VÖLKERS AG Princess Wittgenstein Head of Global Corporate Communication Stadthausbrücke 5 20355 Hamburg Germany Phone: +49 40-36 13 11 20 Fax: +49 40-36 13 12 35 Bettina.Wittgenstein@engelvoelkers.com
About Engel & Völkers:
Engel & Völkers is one of the world’s leading service companies specialised in the sale and leasehold of premium residential property, commercial real estate and yachts. With its licence system, Engel & Völkers is the only Germany-based firm to rank amongst the top 100 franchise companies in the world.* Around 530 residential property shops specialised in high-class real estate and 59 commercial offices brokering office, retail and industrial space, investment properties, multi-purpose apartment and office blocks and property portfolios offer both private and institutional clients a professionally tailored range of services. Leasing, sales, consultancy and valuations form the core competences of the staff of around 5,000 employees. The Company is currently operating in 38 countries on five continents. Intensive training schemes in its in-house real estate Academy and the high level of quality assurance governing its systematically structured service provision are key factors that account for the Company’s success. In 2012, Engel & Völkers was named the most valuable property brand in Germany in the category “Property broker” by the European Society for Real Estate Brand Observation (EUGIMB).
* Source: Franchise Direct “Top 100 Global Franchises Ranking” https://www.dropbox.com/sh/zn2z5h627c4acy8/AABa1YqhsXW0N-BAyHSG5-9Ga?dl=0