Sotheby's International Realty Canada recently unveiled "The Manor House," the newest luxury property located in Calgary. "The Manor House" is listed with an introductory price of $12.25 million.
The million dollar house is located in Calgary's prestigious Aspen Estates, reports the site Digital Journal, and is said to be the highest priced residential property introduced in the city since 2009. The English styled manor has nearly 10,000 square feet of living space spread out through three levels. The home is wrapped entirely in stone and features five bedrooms, seven bathrooms, two powder rooms and a 1,200 square foot patio. The expansive house also has a great room with a grand fireplace and coffered ceilings. Located within the house's three levels are a gourmet kitchen, media room, drawing room and an Irish pub-style bar. An enclosed galleria connects the main house to a 1,000 square foot carriage house with a two level, seven car garage.
The site added that the impressive Calgary estate was built by the current and original owner, Jim Quinn. Quinn is a prominent real estate developer and president of homebuilder company, QuinnCorp Communities. The firm also developed the Aspen Estates where "The Manor" is located. According to Corinne Poffenroth, listing agent with Sotheby's International Realty Canada, this is the first time that the property has been listed for sale. Poffenroth added, "Aspen Estates is one of Calgary's most desirable neighborhoods and this estate is its crown jewel... it's a rare opportunity to access and potentially build upon a landmark legacy estate."
The QuinnCorp executive reportedly placed his estate on the market because of his impending retirement, reports the Globe and Mail. Sotheby's Poffenroth mentioned that Quinn is planning to retire to Vancouver Island and has opted to list his Calgary house on sale amid the six and a half year long oil slump. Calgary's housing market was affected when oil prices plunged down during the winter months and listing for luxury homes increased. By summer, the market started its slow recovery following the positive changes in oil prices. Home owners then began to price properties aggressively, in anticipation of a stronger housing market recovery.
Realtor Thomas Keeper, told the publication that the luxury housing market has been "especially affected by the oil-price downturn." This reportedly resulted to sellers having to compete against each other amidst rising inventory of newly build high-end homes. When asked about the Aspen Estate property, Keeper replied, "Are there buyers that can afford a $12 million home? Absolutely, but the thing is that there are other properties that are comparable that are just a little bit better priced."
