I have been lucky enough attend the Cheltenham Festival and witness the deafening ‘Cheltenham Roar’ from the crowd when the starting tapes rise for the opening race of the Festival. It’s a release of the built-up anticipation accumulated since the previous year’s festival, over 361 days ago. But when the decibels of the roar weaken, I wonder about the path these horses have taken to get here.

The Irish bloodstock breeding and racing industry is vast and has produced horses, trainers and jockeys which have dominated the racing industry for many years. Ireland is also synonymous with quality stud farms dotted around the country, where some of the best racehorses in history have been reared. 

The climate and limestone-based soil, combined with quality stud farm facilities throughout the country, make Ireland one of the best breeding grounds for racehorses in the world. 

The Stud Farms and Estates market has been characterised, in recent years, by low transaction volumes with typically fewer than five stud farms being offered for sale each year.  Fearing a lack of confidence from buyers, due to Brexit and more recently, Covid-19, many potential sellers have held back from committing their properties for sale. 

Owning a stud farm in Ireland remains attractive to buyers and we are seeing strong interest from:

• High-net worth international and Irish buyers who are looking for a prime stud farm in a country which is world-renowned for equestrianism. 
• Wealthy individuals with equestrian interests who have just sold a business and want to get involved in the breeding and racing industry. They are attracted to owning a trophy asset which connects them to a pastime they are passionate about. 

Buyers are attracted to quality, and demand is strongest for stud farms that are private, situated in a good location within two hours of an international airport and which do not require substantial improvement due to the time involved and capital expenditure required.  

In the current market it is our experience that active buyers are prepared to pay a premium for stud farms in Ireland that comprise a main house fit for modern day living with little renovation needed, as well as an array of purpose built equestrian facilities that are of a high standard including sand areas, horse walkers, gallops etc. It is interesting to note that buyers are now putting more emphasis on the quantity and quality of land instead of the extent of residential buildings throughout the farm. 

For these high-net worth individuals, being involved in the Irish bloodstock industry is a hobby rather than their primary business and they are looking for a stud farm that they can walk into and hit the ground running. They are often prepared to wait for the best but when the best is offered for sale, they will pay a premium price to secure it. 

If you dare to dream of being involved in producing a Cheltenham Festival winner, the data would suggest that owning a stud farm in Ireland is a step in the right direction, with another strong contingency of Irish horses going to the Festival this year. 

Josh Pim is a negotiator with Savills Country Agency.