Spanish Historic Castle with Tremendous Potential on Sotheby’s

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Canada de la Magna

Spain is a beautiful country and Canada de la Magna, a historic castle located in Lagunas de Ruidera, is one of the places that allows one to witness its full glory. Historical buildings are remarkable in their own right. But they aren’t the only appealing thing about this piece of prime real estate. The property comes with over 6,000 acres of land, much of it agricultural. The listing price for this lot on Sotheby’s is $29,522,910. Considering how much value and potential the place has, it’s worth every penny.

Canada de la Magna

Historic Hacienda “Canada de la Magna”

Canada de la Magna is not the type of historical castle one envisions when thinking of Europe’s medieval fortresses. Instead, it’s more of an enormous farm that’s close to the earth and full of open spaces. There are 30 bedrooms in several residential buildings located on the property. They can easily accommodate over 60 people. One of the living rooms can fit up to 50, which makes the building suitable for entertaining large groups.

There are four single-family homes with multiple bedrooms and bathrooms. They are connected to a large common area where residents can interact with each other in comfort. There are also kitchens and a variety of rooms that can be used to ensure comfortable living for groups of different sizes.

The houses make up a huge rectangle with a large courtyard in the middle. The design is common for Spain and allows for organizing various festivities.

There are other buildings and structures located all over the property. The most remarkable of them is a bullring with a presidential tower. The tower is two floors high and features the classic design for haciendas. Other buildings mainly relate to farming and hunting. There are sheepfolds, warehouses, a stable and a cellar.

The property also features a rather large pool, located not far from the main residential buildings. There are multiple patios located nearby.

In regards to the land, the area is around 6,175 acres and the tourist center La Canada is 185 acres. Approximately 695 acres of the land is irrigated farmland and 1,927 acres are used for dry farming.

Almost all of the land can be used as hunting grounds. There is plenty of small game for that (partridge, rabbit, hare, and pigeon). A migration route for wild boars lies through the land. 

The Potential of Canada de la Magna

Farming and hunting are definitely the main activities that can attract the owner of this property. The farm is well-developed and equipped with two large water reservoirs (35,000 m3 and 8,000 m3). The land is currently used for growing cereals under the PAC and CAP policies.

The land has large reserves of natural groundwater. It can both be used for farming or not used. In the latter case, you can negotiate possible benefits for natural resources conservation.

There are facilities for breeding partridges, which can play well into a hunting retreat business. This property, in general, is a fantastic place for holding a variety of small and big game hunting events.

Residential buildings can be used as a hotel or a place to hold conferences and similar events. The bullring can be both used to set up a stage or to hold real bullfights.

Of course, one should never forget that the lucky visitors of this estate will be able to enjoy gorgeous views of las Lagunas de Ruidera.

Benefits of Investing in Spanish Real Estate

Properties like the beautiful Canada de la Magna stand out in the Spanish real estate market. However, the majority of it is filled with much more affordable, yet still remarkably beautiful pieces. Millions of people appreciate this beauty, which you can clearly see from the number of tourists that come to visit the country every year.

Moreover, it’s extremely popular with expats. The Brits, in particular, make up the largest group of expats in the country. And it’s no wonder because not only do they get to enjoy the beautiful weather. But today they can also make buying a property in Spain, as well as living there, more affordable, with the help of Currencies Direct and other money transfer companies. These services can save the buyer quite a lot of money, thus giving them more opportunities to purchase a better property.

Such money transfer companies have multiple locations in Spain, making any types of transfers easy. In regards to purchasing real estate, these services allow the buyer to save 5% or more of the transfer volume simply because they offer better exchange rates and fees compared to banks. In fact, many of the companies won’t charge fees at all. As real estate investors are one of their main customer groups, they also often offer special deals to them. For example, your large transfer when making a deposit might get a discount so you’ll get a nearly mid-market exchange rate. This way, the transaction will cost you less than 1% of the transfer volume. With a bank it will cost 307%, depending on the bank.

How Much Does It Cost to Buy Real Estate in Spain?

One of the best things about Spain, and one of the main reasons why it’s so popular for investors and expats, is that everyone can afford it. Of course, there are luxury villas and historic properties that cost dozens of millions.

However, there are also multiple properties well under $1 million. You can easily find beautiful vacation homes for any budget.

It’s even easier to do today when the prices have gone down due to the COVID-19 crisis. Do not be alarmed as the crisis hasn’t stopped the growth of the market. Therefore, buying a Spanish property today is truly fortuitous because you can get financing yet get a slightly more attractive price. You can also be 100% sure that as soon as the pandemic ends, tourism will be back to rapid growth. Nothing can detract from the beauty, affordability, and sheer fun of visiting Spain. Therefore, tourists will keep pouring here to enjoy their vacations. The same with expats, who will keep moving to the country with a lower cost of living yet a very high level of enjoyment you can get out of life.

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