The west coast highland estate of Achnacroish on the Isle of Mull, is “a practical sporting man’s paradise” that can be enjoyed “with a modest budget”, according to Ran Morgan, the head of Scotland Residential for Knight Frank. At £1.95 million, it is hardly cheap, but like many historic rural properties on offer in Scotland, this is an impressive home with swathes of land that would not be considered a taxable mansion under a Labour government. Buyers will acquire 7,035 acres, rising from sea level at Loch Spelve to the 2,513ft summit of Dun Da Ghaoithe; opportunities for deer stalking (with an average of 28 stags); salmon and sea trout fishing on the River Lussa; brown trout fishing on two hill lochs; plus a sea frontage and moorings for water sports. Morgan says he has seen a strong interest in Scottish estates, which he reckons still look very good value for money this year; in particular, those that have low running costs could generate income “and are free from any cumbersome issues, such as secure tenancies that are likely to be affected by land reform”. These include agricultural crofts or common grazings. Buyers, says Morgan, want a modest house with little need for staff — but plenty of opportunity for outdoor sport, such as deer stalking and salmon fishing — and good infrastructure. The opportunity to earn a return from, for example, renewable energy, agriculture and forestry, field sports or holiday cottages, adds to the appeal for potential purchasers. The best investment opportunities are in isolated locations. Estates that encompass or are adjacent to communities may find that their property rights, as they stand now, will change in future if the land is deemed to be required by others. The Scottish government has put land reform at the heart of its legislative programme ahead of the 2016 Scottish parliamentary election, with a promise to ensure that Scotland’s land is “an asset that benefits the many, not the few”. This has instilled a sense of caution, if not terror, in some who may be considering buying in Scotland, says Evelyn Channing, of the Savills farms and estates team. “It would be fair to say that buyers sat on the sidelines during the referendum and are waiting for further clarity on land reform. Some proposals, if implemented, could have the potential to change the way the Scottish rural sector operates for ever, but buyers should not be frightened,” she says. “Some shrewd buyers may secure their properties ahead of the stronger competition that will arise when the remaining dust settles.” Channing believes that the Scottish market offers terrific value for money; you can get 10,000 acres, encompassing a deer forest and a grouse moor, a castle, nine estate dwellings and a farm, for the same price as a three-bedroom penthouse flat in Knightsbridge in London, with running costs that are less than some London service charges. “We have a very exciting bag of properties coming to the market over the next 24 months — some top-class farms, a number of low-ground estates, and some exciting sporting estates too,” says Channing. “Thankfully for us, the scenic beauty and privacy that Scotland can offer is unsurpassed.” Andrew Rettie, a partner at Strutt & Parker in Scotland, agrees. “We are witnessing international buyers being more robust than those from the UK in the acquisition of Scottish estates, but in the first four months of this year I have received more inquiries for an estate in Scotland from British buyers than in the entirety of 2014.” Concerns about the influence the Scottish National Party might have in government are making some potential buyers hold back until after May 7, but international buyers, less concerned about UK politics, are keeping values buoyant and are “content to proceed with buying in Scotland, attracted not only by the scale, activities, lochs and history, but the fact they are investing a very small portion of their net wealth,” says Rettie. ON THE MARKET FOR LESS THAN£2 MILLION On the Isle of Skye, you can buy into a slice of Scottish history for £1.3 million with Monkstadt House, the former home of the Macdonalds of Sleat, due to be auctioned by Auction House Scotland on May 15. Built as a laird’s house, it is recorded as having sheltered Bonnie Prince Charlie during the failed Jacobite Uprising of 1745. It has six bedrooms, and comes with seven holiday homes that take regular bookings throughout the year. More recently the area has become known for the cemetery where there is a memorial to the fashion designer Alexander McQueen, who loved Skye. Ross Harper, the managing director of Auction House Scotland, says Monkstadt appeals to Scottish and international buyers, with three parties from the US already having expressed interest. Savills is marketing Gagie House, a small estate “with a little bit of everything” four miles north of Broughty Ferry in Dundee, for £1.5 million. Based on a fortified laird’s house that dates from 1614, the eight-bedroom house with turrets and a coat of arms over the front door looks over grounds that include five cottages producing rental income, farm buildings, more than 90 acres of farmland, woods and marshland. Fans of Georgian architecture may prefer Boquhan House on the Boquhan estate, in Balfron, near Glasgow. This grand seven-bedroom country home with a perfectly symmetrical façade, comes with two three-bedroom cottages in the grounds and a stable block, and is for sale with Savills for £1.175 million. The property may also be sold in two lots. Near Dumfries, Savills has Arbigland House at Kirkbean, an Adam-style Georgian country home, with seven bedrooms, for £1.65 million. Built for the agriculturalist William Craik in 1755, it has 24 acres of land, including wooded coastal gardens laid out in 1680 and a cobbled courtyard with three cottages. If a castle is more your thing, Strutt & Parker is selling one for just £995,000. Kames Castle, in Port Bannatyne on the Isle of Bute, is situated in 19.5 acres of woods and parkland, with “the potential to run a lifestyle business with significant potential,” says Fiona Duff, of Strutt & Parker’s Edinburgh office. There are eight residential properties in addition to the keep, some of which were used as hunting lodges by the Marquess of Bute. For £1.6 million, you can buy Kinpurnie Castle, in Newtyle, Blairgowrie, Perthshire, with a lodge and 133 acres of grounds. If you can stretch to £2.1 million, you can buy the castle plus 609 acres of hills and woodland. CKD Galbraith has just returned the castle and the neighbouring Thriepley House to the market. These, the two principal residences on the Kinpurnie estate, have not been marketed individually before. Emma Chalmers, of CKD Galbraith, says: “Both houses are among the finest in the area. Kinpurnie Castle is a traditional Scots baronial mansion with the quintessential turrets, crow-step gables and fine architectural details, with the rarity of an immaculately maintained walled garden. Built in 1907, it has beautiful Arts and Crafts interiors, and is on the north side of the Sidlaw Hills, with fantastic views over Strathmore, looking to the Highlands.”