Real Estate

Coastal Properties Breaks Record

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Coastal

Coastal Properties Breaks Record Making Most Expensive Residential Sale In Tampa Bay

Coastal Properties Group International recently broke the Multiple Listing Service (MLS) record for the most expensive residential home sale in the Tampa Bay Area by a long shot, at $11.18 million. Century Oaks, the estate at 802 Druid Rd. S., sold for nearly $1 million more than the next priciest property, a Belleair estate that sold for $10.25 million in 2008. No other residential property has come close to this sale price.

Coastal Property Previous Owners

Century Oaks has had several previous owners, most recently being champion powerboat racer Hugh Fuller, who purchased the home in 1996 from British Formula 1 driver Nigel Mansell for $5.5 million. Fuller originally listed the estate for $17.5 million in 2013, but the home failed to sell and subsequently went to auction in 2014 with a minimum starting bid of $8.5 million.

Since no sale materialized at that time, even with offers submitted by three bidders, the house, guest house and boat house were all listed separately. On April 4th of this year, the new owners closed on the main home and the guest house with the assistance of listing agents Kerryn Ellson and Mary Ann McArthur. Fuller remains the owner of the 2,500-square-foot boat house.

Coastal Property Realator

“It was very exciting to be part of this sale. It’s the most outstanding property on the west coast of Florida, and it has such a rich history that makes everything involved with the property very interesting,” said McArthur.

The listing has been orchestrated by other agencies in the past. A combination of international marketing, timing, and CPGI’s expertise lent itself to securing the sale this April to an overseas buyer.

“I think the timing was right for both the buyer and seller,” Ellson explained. “The property is worth every penny, based on its size, amenities, exquisitely manicured acreage and the privacy it affords its new owners.”

What Makes This Coastal Property Unique

Overlooking Clearwater Harbor, Century Oaks is uniquely positioned on a 50-foot bluff with a reputation of being the highest waterfront elevation on the Eastern seaboard, according to McArthur. The property gets its name from the lush greenery and historic trees that have graced the property for years.

“We’re seeing a number of properties in Belleair Shore and even Harbor Oaks that sold for over $5 million in the last six to 12 months,” said Alex Jansen, a broker at Coastal Properties. “We haven’t seen that in some time.”

Learn more about Coastal Properties Group International by calling Mary Ann McArthur 727.460.5906 or Kerryn Ellson 727.408.4888

 

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