It rarely happens that a building in the valley of the Seven Castles is looking for a new owner. Yet, this has been the case for a few months for the château de Septfontaines, in the commune of Habscht. The 12th century castle with a surface of 1,000m2 is evaluated at €3,5m.
With a view over the small village of Septfontaines the castle has a plot of land of almost 145 acres according to the . The land is officially owned by Emile Rippinger, the head of real estate company Pilar.
Some work done, much more to do
The real estate agent commissioned for the occasion, Livinghome Real Estate, states in the advertisement for the property that “the main building of the castle has been partially renovated, although some renovation work remains to be done. The idea behind the renovation work was to create a prestigious residence in a privileged location with a view to the picturesque town of Septfontaines.”
The new buyer would have quite a lot of work to do and will need to respect the appearance of the listed property because razing everything for a rebuild anew is not allowed. The real estate agent points out that the new owner could seek out an architect from the national monuments services. They could also benefit from state subsidies for renovation work as well as an evaluation by architects and engineers.
800 buildings classified as national monuments in Luxembourg
“This does not prevent a new owner from making changes, or even changing the function of the building; any planned modification or intervention must be discussed with my department, which accompanies the project owner throughout the project and prepares the authorisations and ministerial decisions if necessary,” says Patrick Sanavia, director of the national monuments services.
More than 900 files are currently open, for which promises of subsidies have been issued.
In total, Luxembourg has 800 buildings classified as national monuments, as well as a thousand listed in the supplementary inventory and more than 16,500 protected by the PAG (general development plan) of various municipalities. “More than 900 files are currently open, for which promises of subsidies have been issued,” said Sanavia.
He believes that it is not uncommon to see listed buildings change ownership: “Several listed castles have passed into new hands in recent years, namely those of Moestroff and .”
Looking for a private investor
Last September culture minister Sam Tanson (dei Gréng), indicated in an answer to a parliamentary question that the state was not considering buying Septfontaines castle. So, private investors are now in the driver's seat when it comes to securing the property.
Five of the seven castles in the picturesque valley are owned by public structures and two by private owners. These include the castle of Septfontaines, but also that of Ansembourg. The Count of Ansembourg said he had no comment regarding a potential sale but confirmed to Delano's sister publication Paperjam that his hotel business has come to an end.
Location, location, location
The Wintrange castle, located not far from Schengen, is also up for sale. While its general condition seems better than that of Septfontaines, the Living Conceptsreal estate agency notes that “a lot of renovation will be required”. The owner told Paperjam that: “the Castle of Wintrange is inhabited, which is not comparable to the ruin of the Castle of Septfontaines.”
The real estate agent said that: “The property has great potential for the creation of a public event space, such as an upmarket restaurant with its own gardens and orchard.”
For real estate expert Joanna Prazanowska, this type of sale can take from a few months to several years: “This type of property is not bought for immediate economic return, it is mainly bought for its prestige.” The location aspect is a major criteria, just as it is with traditional real estate. Meanwhile the prestige of the national monument classification adds to the value. The large amount of work required and the current shortage of materials could be a stumbling block for some. “The real problem is rather the enormous increase in prices (...), but a buyer is not really going to hesitate to invest knowing that he will find his money back in the end", says Prazanowska.
*Updated on May 11, 2022: The owner of the Wintrange castle, Philippe Schlesser, told Paperjam that since February 2022 and the initial publication of this article, the sale price and the real estate agent in charge of the sale of his property have changed. He specifies that “the Castle of Wintrange is inhabited, which is not comparable to the ruin of the Castle of Septfontaines.”
This story was first published in French on . It has been translated and edited for Delano.