What Craigdarroch and Hatley Castles could cost in today's market
Victoria’s iconic castles, Craigdarroch Castle and Hatley Castle, are steeped in history and grandeur. These sprawling estates have captured the imaginations of locals, visitors, and filmmakers. But what if they weren’t museums or university grounds?
What if they were homes on today’s real estate market?
Let’s break down the fantasy of castle living and the price tag that would come with it.
Craigdarroch Castle
Craigdarroch Castle/Shutterstock
Built in the late 1800s for coal baron Robert Dunsmuir, Craigdarroch Castle is a 25,000-square-foot mansion with 39 rooms, beautiful woodwork, and stained-glass windows evoking a specific Victorian-era luxury. Located in the heart of Victoria, it sits on a prime hilltop with panoramic city and ocean views.
It’s believed that Craigdarroch cost $500,000 at the time of its construction in 1890, which is $18.9 million adjusted to today’s price. But what would it cost now?
- Maintenance Costs: Heating a 25,000-square-foot property would likely cost $5,000–$10,000 per month, and the ongoing restoration of stained glass and wood detailing would demand a dedicated budget of at least $500,000 annually.
- Price per square foot: Based on the average price of $567 per square foot for detached houses in Victoria, the estimated cost of Craigdarroch Castle (25,000 square feet) would be approximately $14.18 million.
Luxury homes in Victoria sell for between $10 and $20 million. But a castle with historical significance and unparalleled craftsmanship? We’d predict its cost would be upwards of $50 million, plus annual property taxes, which likely would exceed $200,000.
Hatley Castle
achinthamb/Shutterstock
Hatley Castle, a 40-room mansion built by James Dunsmuir in 1908, is set amidst 565 acres of pristine gardens and forests in Colwood. Today, it’s part of Royal Roads University, but imagining it as a private residence makes for a jaw-dropping real estate exercise.
The Department of National Defence purchased Hatley Park for $75,000 in 1940, which would be $1.6 million today, adjusted to today’s price. So, ballpark, what would it cost now?
- Annual Maintenance: Caring for the castle’s sprawling gardens, grounds, and structural upkeep could cost several million dollars a year.
- Staffing Costs: Maintaining a property of this size would require a full-time team, including landscapers, housekeepers, and security, which could run upwards of $1 million annually — maybe more.
- Price per square foot: Based on the average price of $567 per square foot for detached houses in Victoria, Hatley Castle (50,000 square feet) would be approximately $28.35 million.
- Price per acre: Based on the average price per acre of farmland in BC in 2023, Hatley Castle’s property alone would cost more than $56 million.
With its massive acreage, oceanfront location, and historical pedigree, we are pegging Hatley Castle’s market value exceeding $100 million.
Priceless?
All in all, the consensus among the population is that Craigdarroch and Hatley Castle are basically priceless — they’re more than just homes; they’re living monuments to British Columbia’s history. Owning one wouldn’t just require deep pockets — it would demand a dedication to preserving a piece of the past.
But if don’t have the cash, and you’d like to check out these pieces of history, guided tours are available year-round.