Billionaire thoroughbred stud owner John Magnier and two of his children are involved in a legal dispute relating to the proposed purchase of a 751-acre farm estate and mansion in the Golden Vale.
The property, Barne Estate, was last month reported to have been bought by Magnierās Coolmore Stud operation.
The property, Barne Estate, was last month reported to have been bought by Magnierās Coolmore Stud operation.
Barne Estate had been on the market since July, with a guide price of ā¬13.5m.
But a deal for the period house and farm near Clonmel, Co Tipperary appears to have hit a significant snag, with parties involved now heading to the High Court.
Mr Magnier, his son John Paul and daughter Katherine Wachman initiated proceedings on Monday against the estateās manager, Richard Thomson-Moore, Barne Estate Limited and two companies registered in Jersey.
The Magniers are being represented in the matter by āBig Fiveā law firm Arthur Cox.
It is thought Coolmore believed it had a deal for the property. However, it remains advertised as being āfor saleā by selling agents Savills and REA Stokes & Quirke.
While full details of the dispute have not been publicly disclosed, High Court records show the Magniers are suing for the āspecific performanceā of an agreement.
Barne Estate in the Golden Vale. Photo: MyHome
This is a relief usually sought to force another party to a contract to comply with their obligations under that contract.
A spokesman for Coolmore said he could not comment as the matter was before the courts.
Attempts to make contact with a representative of Barne Estate proved unsuccessful.
The property has been in the hands of the Moore family since 1654.
It comprises a large farm and a 17th century 12-bedroom chateau-style mansion overlooking a lake.
About 631 of the Barne Estateās 751 acres is classified as first-class fertile and versatile tillage land, according to the selling agents.
The mansion itself is valued at ā¬2.5m, measures over 1,500sqm in size across four floors, and is reached via a tree-lined driveway.
It is surrounded by formal gardens, a walled garden, and a tennis court.
The property is located not far from Coolmoreās headquarters in Fethard.
Coolmore has been buying up land that has become available in the area in recent years.Previous purchases include a 600-acre tillage farm in Grange, reportedly bought for ā¬11m in 2013, and a 360-acre parcel of land in Marlfield, said to have cost around ā¬6m.
Those lands have been used for tillage farming since being purchased.
Mr Magnier is considered one of the most influential figures in the world of horseracing and breeding.
His Coolmore operation spans several locations in Ireland, the United States and Australia.
The billionaire once had a stake of close to 29pc in Manchester United, which he sold to the Glazer family in 2005.
The football clubās former manager Sir Alex Ferguson was involved in a high-profile legal dispute with Mr Magnier over ownership of lucrative stallion Rock of Gibraltar. The matter was settled in 2004.
