Lord Newborough, who succeeded his father as 8th Baron in 1998, said the estate near Caernarfon was in a “beautiful” part of the world.
He said he had fond memories of his time there and also of spending summers at nearby Fort Belan, an 18th Century fortress his family owned until 1995 that looks out on to the Menai Strait.
“I love it over there but I can’t be everywhere,” he said, referencing his responsibilities at the Rhug Estate.
“I think it’s got beautiful views and beautiful countryside and lovely people.”
However, he added: “I’m 77 and I have to make difficult decisions. I haven’t got anyone else to take on or manage the estate.”