Sale of the Week: The 25-acre King estate that sold for the price of a mid-sized Rosedale house

Address: 14455 12th Concession Road
Neighbourhood: Township of King Agent: John Dunlap, Moffat Dunlap Real Estate Limited, Brokerage Previously sold for: $775,000, in 2010, prior to a total rebuild      

The property

A 5,000-square-foot stone home on 25 acres of land.

The history

The sellers bought the land eight years ago and tore down the existing structures, an old barn and a 1960s bungalow, before building this custom home and drive-in workshop over the last three years. They recently sold their businesses, and now they’re relocating.

Here’s the living room:

The dining room:

The kitchen and breakfast area:

The office has its own fireplace:

There are five bedrooms. Here’s one of them:

And another:

And another:

And the master bedroom:

The very spacious master ensuite:

The fate

The buyer is a young entrepreneur who was looking for a seasonal residence within an hour of Toronto. He intends to transform the property into a private retreat with an elaborate pool area. He may also seek out a tenant farmer for a portion of the land.

The sale

The sellers bought the land for relatively little money—about half of what it would cost today, according to the agent—so they were able to list the property at a competitive price. There was one offer, for $50,000 under asking.

By the numbers

• $4,200,000 • 5,000 square feet • $2,300 in taxes (approximately) • 15 days on MLS • 7 bathrooms • 5 bedrooms