“Sale Pending” for the castle in Woodford County

VERSAILLES, Ky. (WTVQ) – After being on the market for nearly 7-years, the sale of the castle in Woodford County is pending, according to a report in the Lexington Herald-Leader.

The newspaper quotes Versailles lawyer Bill Moore, who is reportedly familiar with the contract negotiations.

Moore told the newspaper a contract on the pending sale of CastlePost on U.S. 60 was signed late last week. He would not identify the prospective buyers or the reported offer.

The sale price for the 50-acre property when it first went on the market in 2010 was $30 million, according to the newspaper. The current sale price is $15 million, according to the report.

Bill Moore told the Herald-Leader that the prospective buyers want to continue to use the property as it is now, which is a tourist inn.

Lexington contractor Rex Martin, Senior, began building the castle in 1969. He didn’t finish it and it became a curiosity and conversation piece as it sat empty until 2003 when Miami, Florida, lawyer Tom Post bought it for $1.8 million. He rebuilt and restored the castle and opened it as CastlePost in 2008. Post is a graduate of Lexington’s Lafayette High School and the University of Kentucky.

Bill Moore told the Lexington Herald-Leader that weddings already scheduled to be held at CastlePost will go on as planned.

If the sale goes through, it probably wouldn’t be final for a couple of months, according to the published report.

The Woodford County Property Valuation Administrator’s Office lists the castle’s assessed value at $4 million. Its property tax bill last year was $33,353,25, according to the newspaper.

Categories: Local News, News

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