A Texas ‘palace ranch’ has sets a sale record following interest from around the world including China. There is no Utility power or water on the 346-acre property, but it does have hunting, fishing, a spa, paintball course, driving range AND a skeet range
An hour and a half drive from Dallas on Lake Cypress Springs, the Estate was last valued in parcels at almost $17 million. The working and recreational ranch sold under one fence, after the seller cobbled together 14 parcels of land to build the property into what it is today, Sandy Lambright, project sales manager for New York City-based Concierge Auctions, told the Dallas Business Journal.
“This was the highest sold price on Lake Cypress Springs ever on record,” Lambright said, declining to disclose the sales price until the property sale closes next month. “The entire property sold together to one buyer and the seller was happy.”
The property runs off the grid with its own generators, wells and a storm shelter.
In total there were nine registered bidders.One was a group of investors.Another, according to The Dallas Business Journal, was a company looking for a weekend retreat to send their employees. There were also individual buyers.
It is the highest sale on record for Lake Cypress Springs.
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