Monday, January 22, 2024

Longwood Gardens completes acquisition of Granogue, a 505-acre du Pont estate

 By Emma Dooling – Reporter, Philadelphia Business Journal

Longwood Gardens has completed its acquisition of the late Irénée du Pont's Delaware estate nearly a year after announcing plans to take ownership of the 505-acre property.

The Kennett Square tourist destination finalized its purchase of Granogue on Jan. 11, a Longwood Gardens representative confirmed to the Business Journal Friday. Close of the sale was first reported by the Delaware Business Times.

Terms of the deal were not disclosed, and New Castle County property records currently list a sale price of $10.

Longwood Gardens announced in February 2023 that it had entered into an agreement with Granogue Reserve LTD LLC to acquire the estate. The Conservation Fund, an organization that protects land and waterways throughout the country, acted as the fiscal agent for the acquisition.

Granogue is located off of Smithbridge Road about seven miles from Longwood Gardens. The 100-year-old property includes farmland, forest, pastures and meadows. In total, the estate is home to 18 residences, including the main house, and four other buildings.

After the deal was announced, Longwood Gardens CEO Paul Redman told the Business Journal that the organization planned to use the property to expand its ecological conservation and research practices and would conduct thorough assessments of Granogue to determine what it could do with the estate. In a statement issued Friday, the Longwood Gardens representative did not address potential plans to open the estate to the public but said the organization continues to explore how the property will evolve under its operation and will keep conservation of the land its first priority.

"We understand the important role this iconic landscape plays in our community, and we will work to ensure it is stewarded for future generations to enjoy," the representative said.

The acquisition was funded in part by the the Longwood Foundation and the Mt. Cuba Center, a Delaware botanical garden incorporated in 1989 by Lammot du Pont Copeland. The Longwood Foundation was established by Pierre S. du Pont, Irénée du Pont's uncle, in 1937 to support the operations of the famous gardens and fund community projects, according to its website. It is currently led by Thère du Pont.

Full story:

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.