ASPIRING castle owners have the chance to pick up a bargain in Fermoy, as Michael Flatley has put one of his homes back on the market with a massive price cut.

Castle Hyde, the palatial country house on the banks of the river Blackwater, has been listed by Sotheby’s International Realty with an asking price of €12.5m. That is a hefty reduction from 2015 when it was listed for €20m.

The three-storey country house was built in the early 1800s and is set in 150 acres 5km outside Fermoy.

“The pleasure grounds are magnificent and include a ruinous 12th century Norman castle (circa 1301) and a myriad of walking paths throughout,” the estate agent says in the listing.

The dance star, who is a native of Chicago but has a strong Irish background, bought Castle Hyde in 1999. At the time he was at the height of his fame, after shooting to worldwide prominence as a result of his starring role in Riverdance. He went on to star in his own show, Lord of the Dance and followed this up with Feet of Flames, and Celtic Tiger Live. Mr Flatley’s shows are estimated to have grossed more than a billion dollars, playing to more than 60 million people in 60 countries.

As a result, his personal fortune is believed to be more than €300 million and he spent millions restoring and refurbishing the north Cork country house.

The building is the ancestral home of Ireland’s first president, Douglas Hyde, but was close to a ruin when Mr Flatley bought it. It is believed he spent between €30m and €50m restoring it over a four-year period, to retain as many of the original features as possible.

The house extends to some 3,200 square metres and includes seven principal reception rooms, 12 bedroom suites and a pool complex. The master bedroom suite alone extends to over 280 square metres.

Castle Hyde is surrounded by lawns and gardens, which include a practice golf putting green, croquet court, a garden gazebo, a riverside fishing deck and boat slipway and a tennis court. There is a private golf driving range and a garage block which can hold eight cars. The grounds also contain grazing paddocks and a small farm and an estate lodge is also included in the sale.

Mr Flatley married his wife Niamh O’Brien at the property in 2006 and Michael Jackson, Cliff Richard, Maureen O’Hara and The Chieftains have all been visitors over the years.