Foreign Property News | Posted by Si Thu Aung
Near Santa Barbara, it is one of the priciest properties ever listed in the area.
A 3,500-acre California coast ranch linked to Mansour Ojjeh, a French-Saudi Arabian entrepreneur whose company is a major shareholder in British-based car maker McLaren and its Formula One racing team, is listing for $110 million.
That would make the ranch, which is near Santa Barbara, one of the most expensive properties ever listed for sale in the area.
There are very few private ranches along the coast: Montecito billionaire Charlie Munger, vice chairman of Berkshire Hathaway, recently paid $70 million to buy a 1,800-acre ranch along the same stretch of coastline.
Mr. Munger said he was donating the land to the University of California, Santa Barbara, though he had not mandated what the university should do with the land.
Known as El Rancho Tajiguas, the ranch includes two Spanish-style villas on opposite sides of the property.
Built in 2014 and 2015, the homes both have five bedrooms, swimming pools, guesthouses, theaters, wine cellars and helipads, according to listing agents Marco Naggar and Aaron Kirman of Compass.
One spans about 10,000 square feet, while the other spans about 12,000 square feet.
They noted that the owner spent around five years securing approvals from the local authorities to build the homes.
There are also as many as 20 additional structures on the property to house the ranch manager, staff and farming equipment, since the property operates as a for-profit ranch, farming avocado and persimmon.
Roughly 120 cows are also included in the sale.
Ref: Property Report
