From its bustling metropolises to quaint villages, the UK offers diverse locations for luxury living. Spectacular residential properties range from historic country castles to cutting-edge city apartments. In this new series, The National showcases the best and most luxurious the UK has to offer.
Featured property
Seton Castle, Longniddry, East Lothian, EH32 0PG, £8,000,000/$10,545,112 (offers over)
Hail Mary
The modern Georgian Seton Castle was erected on the site of Seton Palace in 1789.
In its first incarnation Seton was regularly graced by Scottish aristocracy with Mary Queen of Scots a frequent visitor.
On one of these visits Mary somewhat scandalously played golf nearby.
Mary certainly couldn't have picked a better place to play golf. Seton is situated in East Lothian near the sea, an area so associated with the game that it has been given the moniker the "Golf Coast".
So if any keen golfers failed to purchase Cherry Hill, the Wentworth Championship course property featured in October, then Seton offers redemption. The pick of the panoply of courses which surrounds the castle is Open Championship host Muirfield, a mere Bryson DeChambeau seven iron away.
And if a love of golf is combined with a love of archaeology, then Seton is a nirvana as buried under the front lawn are the largely preserved remains of the original palace.
The Adam Family
Seton Castle in its current guise was designed by the acclaimed architect and designer Robert Adam using stone from the original palace.
The Adam family was to architecture what the Kanneh-Masons are to musical instruments. Robert's father William was Scotland's leading architect and his older brother, John, and younger brother, James, were also in the family trade.
It is a fair bet that anyone has made it in a particular pursuit when their name is used to describe a style or technique. The "Adam Style" revolved around the idea of architectural motion.
The usage is figurative though; there certainly isn't any danger of Seton Castle subsiding given it is built with incredibly thick walls.
Thick walls are a hallmark of Scottish buildings through the ages. When Scots first settled in Australia, they baffled natives with their penchant for girthy fortifications but it soon became clear that the method kept them as cool as it did warm.
So whilst Seton might not match the efficiency of this Bloomsbury eco-house, for a castle its energy conservation is outstanding.
Great Scot
In 2007 Seton was bought for £5 million, making it the most expensive house in Scotland.
It had been comprehensively renovated before the purchase but the current owners have done lots of additional work.
It's on the market with Savills and sales agent Jamie Macnab cites the "striking French oak flooring throughout".
His favourite feature, however, is the parterre courtyard, modelled on the gardens of the French renaissance.
It provides the perfect space in which to entertain and, for the more commercially minded buyer, Mr Macnab points out that it could easily be used to host functions and weddings.
Much is made of having a room with a view but anyone who buys Seton Castle could take this one step further.
"The views from the top of the castle looking over Edinburgh are incredible," says Mr Macnab.
He also highlights a medley of other beguiling features which you can see in the video at the top of the page and in the gallery below.
It would be remiss not to mention one particularly quirky feature bound to appeal to the discerning drinker. In one wing of the castle is an authentic cobblestoned tavern, an idyll for a post-work libation or three.
Seton Castle highlights
- Seven bedrooms and three separate self-contained cottages
- State-of-the-art gym, cinema, playroom and billiard room
- Huge double AGA kitchen and magnificent silk-lined dining room
- Working stables including a foaling stable
- 10,000-bottle wine cellar
- Sweeping spiral staircases
- Interior featuring array of silks
- Within 12 miles of Edinburgh and ideally located for some of Scotland's best schools, including Loretto
Seton Castle is on the market with Savills
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This gallery shows pictures of Seton in all its glory but if the life of a laird isn't for you, then here you can read why London is in high demand from Middle East buyers during the Covid-19 pandemic.
How the UAE gratuity payment is calculated now
Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.
The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.
1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):
a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33
b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.
2. For those who have worked more than five years
c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.
Note: The maximum figure cannot exceed two years total salary figure.
How Tesla’s price correction has hit fund managers
Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.
It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.
The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.
Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.
Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.
He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.
AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”
A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.
Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.
Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.
Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.
By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.
Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.
In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”
Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.
She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.
Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.
Ordinary Virtues: Moral Order in a Divided World by Michael Ignatieff
Harvard University Press
Points tally
1. Australia 52; 2. New Zealand 44; 3. South Africa 36; 4. Sri Lanka 35; 5. UAE 27; 6. India 27; 7. England 26; 8. Singapore 8; 9. Malaysia 3
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UAE currency: the story behind the money in your pockets