December 10, 2019
Business News

British Lord loses right to live in €20 million Kilkenny mansion

By COLIN BARTLEY

THE long-running saga regarding the rights to live in one of Kilkenny’s most expensive properties appears to have finally concluded.

Lord Magan, a member of the British House of Lords, today lost his case in the High Court in Dublin which ruled he is not entitled to tenancy of the €20m Castletown Cox estate in Castletown, Co Kilkenny.

The vast Palladian house and estate, just two miles from Carrick-on-Suir, became the centre of a court battle between Lord Magan and the trustees acting on behalf of Castletown Foundation Limited.

Lord Magan had set up the Castletown Foundation Limited trust for the benefit of two of his three children, Edward Magan and Henrietta Black.

On setting up the trust, Lord Magan agreed tenancy terms with the trust of €100,000 per annum. These payments fell into arrears.

As cost mounted on the maintenance of the property, the trustees acting on behalf of the foundation decided to sell the estate.

Castletown Cox was placed on the market in June 2017 with a guide price of €17.5 million. An offer above €20 million was accepted by the trustees, with the new owners insisting on a vacant possession.

Lord Magan, a former treasurer of the UK Conservative Party, insisted he was entitled to a new tenancy, his claim was dismissed by Justice Tony Hunt.

 

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