The self-styled prince of Sealand, a pseudo-independent principality off the coast of Suffolk, is for the first time allowing outsiders to bid for a share of the experimental microstate that his father founded 40 years ago.
Michael Bates, head of state at the unrecognised principality, which is less than half the size of an Olympic swimming pool and comprises one fire-damaged house built atop a concrete sea platform, is looking for “new blood, refinancing, and new ideas”.
Last week, Bates licensed Inmonaranja, the Spanish property company, to transfer ownership of Sealand from his family. It is listing Sealand at an opening price of £498m.
