Humewood Castle in Co Wicklow has been sold to an overseas buyer for a sum in the region of €8 million.
The identity of the purchaser of Ireland's most expensive country property remains shrouded in mystery but it is understood they are American.
The €8 million price tag, while considerable, is still some way off the €25 million paid for the Kiltegan House and Estate in 2006 during the height of the boom. Developer John Lally's Lalco Holdings purchased Humewood and planned a €250 million tourism development which received planning permission in 2008 for a five star hotel, leisure centre, tourist lodges and a 17 hole golf-course.
It had been estimated that the development would create 400 jobs during construction and a further 200 jobs when completed, however, the collapse of Mr Lally's business meant plans for the luxury golf resort also collapsed.
The National Asset Management Agency instructed the sale of the estate, which was carried out by Sherry FitzGerald and Christie's International Real Estate. The new owner of Humewood Castle intends to undertake a conservation-restoration of the estate.
The estate is based on 427 acres and includes a large mansion with 3,530sq m (38,000sq ft) of accommodation. It is surrounded by private woods and lakes.
