Paul Wallop listed his 1,542‑acre Quarter Circle Lazy B Ranch in north‑central Wyoming for $24.5 million.
The ranch traces its roots to Oliver H. Wallop, the youngest son of a Victorian earl, who founded the estate in 1889 after moving from Montana to Big Horn. Wallop’s grandson Malcolm served 18 years in the U.S. Senate, and the property has stayed in the family for four generations.
In 1984, Queen Elizabeth II and Prince Philip spent four days on the property after a Kentucky horse‑search, marking the only royal visit in the ranch’s history. Their stay was private, and they were there to evaluate horses before heading back to the UK.
The 1,542‑acre property sits at the mouth of Little Goose Canyon, backed by the Bighorn Mountains, and is protected by one of Wyoming’s oldest conservation easements. Its main lodge, built in 1993, covers 3,006 sq ft with two bedrooms, a loft, and four bathrooms, while a historic stone barn from the 1930s and a 100‑by‑200‑foot riding arena add to its equestrian appeal.
The ranch also contains four mountain ponds, a 600‑ft trout stream, and holds one of the state’s original private game‑bird farm licences. Three houses serve as holiday rentals, and the surrounding Bighorn National Forest offers nearly a million acres of trails, making the estate attractive to hunters, fly‑fishing enthusiasts, and luxury seekers.
Sheridan, just 20 minutes away, boasts a downtown listed on the National Register of Historic Places and an old polo field that is the oldest west of the Mississippi. The local airport provides links to Denver, and the area’s historic sites and open spaces enhance the ranch’s appeal.