Property of the Week: $9.8 million for a 15-bedroom luxury lakeside retreat in Parry Sound

Address: 406 Whitestone Lake Road
District: Parry Sound
Agent: Max Hahne and Matt Smith, Engel & Völkers, Brokerage
Listing price: $9,800,000
Previously sold for: $1,800,000, in 2015

The place

A luxury retreat, known as Whitestone Resort, on the northwest tip of Whitestone Lake, located a two-and-a-half-hour drive north of Toronto. The sprawling 31-acre waterfront property also comes with a sand beach, five ponds and a private nine-hole golf course.

Inside, at 13,000 square feet spread across two storeys, it’s got an open-concept layout, inspired by the wide-open interiors of Texas ranch estates. There are 15 bedrooms and 16 bathrooms, including a private residential wing with its own private suite, dining room and kitchen.

The decor is really outdoorsy, with hardwood walls that evoke 19th-century log cabins and a bunch of taxidermied deer and moose heads.

The history

The resort was built in 2000 and used as a venue for special events and destination weddings. In 2015, it was purchased by Tennessee-based musician David Vaters for $1.8 million.

Vaters then spent more than $3 million on extensive renovations, installing new hardwood flooring, ceiling beams and custom doors. He also converted the former restaurant into a private residential wing. Outside, he added a lakefront patio and fire pit.

Once the renos were completed, the interior was decorated by Texan designer Cindy King. After that, Vaters used the resort as his Canadian residence, and frequently hosted parties with guests including fellow musicians, politicians and business moguls.

Vaters is moving back to the U.S., so he’s selling the resort in an online auction that will be held December 10-16. Interested buyers can schedule an appointment to view the resort in person or virtually.

The place is listed at $9.8 million, which might attract people looking to open a resort, deep-pocketed international real estate investors, and families looking for a deluxe recreational property (it looks like something the Roy family from Succession might purchase to expand their portfolio).

The tour

The front driveway of the resort:

There’s a buffalo head overtop the front door, which opens into the resort clubhouse:

In the clubhouse, there’s a living area with a wood-burning fireplace and stone surround:

Another living area in the clubhouse:

Here’s a view of the clubhouse from the second floor:

This is the primary bedroom in the self-contained residential wing:

One of the 12 private luxury suites in the resort:

Eight of the suites have a private deck overlooking the lake:

The resort comes with an operational commercial kitchen:

Formerly a breakfast area for resort guests, this screened porch has a view of the lake:

A lakeside fire pit and sitting area:

This rec building contains an indoor shuffleboard court and a movie theatre. There’s also a fitness room with an elliptical, treadmill and stationary bike:

This top-floor lookout offers a panoramic view of Whitestone Lake:

Big selling point

Versatility. The buyer could convert it back into a luxury lodge, taking advantage of the commercial kitchen and 50-seat lakefront patio. Or it could be a secluded family compound, with potential for cross-country skiing, snowshoeing and ice skating on the property in the winter. Another bonus: the 3.5-kilometre Whitestone Lake Recreational Trail, perfect for hiking and mountain biking, is right nearby.

By the numbers

• • $9,800,000
  • $10,000 in property taxes
  • 13,292 square feet
  • 15 bedrooms
  • 16 bathrooms
  • 20 parking spaces
  • 6-car garage

Correction: We’ve changed the article to reflect that this place is in Parry Sound, not Muskoka.