World's most expensive estate on sale for £460 million

World's most expensive estate Waggoner Estate Ranch
World's most expensive estate Waggoner Estate Ranch

A historic ranch in Texas looks set to become the most expensive estate in the world.

Waggoner Estate Ranch is 13 miles south of Vernon, Texas and covers a massive 510,000 acres or 800 square miles.

The ranch is also thought to be the largest single ranch in the USA and is on sale for £460 million.

The estate's land area is bigger than that of Greater London and larger than Greater Manchester and Merseyside combined.

The state of Texas itself has an area of 268,596 square miles, making it the second largest in the US after Alaska which covers almost three times the area.

Waggoner Ranch Estate is home to 7,500 cows, 500 quarter horses, 20 cowboy camps and a number of massive lakes.

The estate was established by Dan Waggoner in 1849 and when he passed away in 1903, his son W.T Waggoner took over the family's ranching business.

Now the company's interests are mainly in ranching and oil with some of the horses still carrying the bloodline of the famous quarter horse, Poco Bueno.

According to their website, Waggoner Ranch also has 16,000 acres of 'proven prolific oil properties' which may go some way to explaining the mammoth price tag on the property.

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Texas saw an oil boom in the early 20th century after a petroleum reserve was discovered near Beaumont in Texas.

Just this week, CNBC reported that US crude oil prices have settled at $59.43 a barrel.

To put the ranch's price into perspective, a typical buyer in the UK would have to put down a 30% deposit on a property.

This means you'd need to pay £138 million up front to buy Waggoner Ranch if it were in the UK.

Similarly, your monthly repayments on a 25 year mortgage with a 3% rate would be an eye watering £1.5million.

Check out our slideshow below to see what the Waggoner Ranch looks like.

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Experience the Cowboy Life in West Texas
Experience the Cowboy Life in West Texas