Nov 1 (Horse Talk) — A luxury equestrian property in Wellington, Florida, will go under the hammer this month, with a reserve price of less than half its original list price of $US6.5 million.
Platinum Luxury Auctions is offering the 15-acre estate known as Wild Orchid Stables at live auction on December 7.
In addition to upscale horse amenities, it boasts an impressive luxury home, which the auction firm says is an uncommon combination for traditional equestrian properties.
“We’ve certainly seen our fair share of horse properties, but Wild Orchid Stables presents a scenario that we’ve not seen before,” noted David Enriquez, Platinum’s director of operations.
“Much of what we see is very lopsided in the horse property world. Many of these properties have incredible horse facilities, but then their residential structures are modest at best, or vice-versa.”
The estate is located within the guard-gated community of Homeland, a development of ranch and equestrian properties in Palm Beach County, Florida, just a short distance from the Palm Beach International Equestrian Center.
Although it was recently offered for more than $US6.5 million, the property will now be sold to the highest bidder at or above a reserve price of $US2.75 million. Illustrated Properties, a luxury brokerage represented by listing agent Matt Johnson, is working in tandem with Platinum for the sale.
The property’s owner, a homebuilder and general contractor, developed both the residential quarters and grounds with attention to detail and quality.
The central residence and adjacent guesthouse combine to offer more than 6450 square feet of living space, with five bedrooms and six bathrooms.
Interiors are appointed with custom woods, marble and Venetian plaster. Prominent features include a grand salon with custom built-ins, a wet bar, billiards area, a chef’s kitchen, and a saltwater fish tank. The formal entry has soaring ceilings and a stone fireplace.
A top-of-the-line system controls many of the home’s electronic components.
Immediately outside the main residence is a spectacular outdoor living area with a large loggia (open corridor) and a resort-style pool featuring LED lighting, a swim-up wet bar, custom rock waterfall and slide, and a hot tub “grotto” with full audio and video.
The property grounds also feature a fenced and irrigated 200-foot by 100-foot riding arena, six paddocks, four stalls, a stocked pond and semi-private lake, and a 3200 square foot outbuilding that is currently designed as a custom car garage and professional-grade fitness center.
Trayor Lesnock, Platinum’s president and founder, said: “We really enjoy working in the luxury horse property sector, and expect to have continued success in that arena.
“The buyers and sellers in the equestrian world are generally very wealthy, dynamic individuals, and they’re comfortable buying and selling at auction.