NEWS

59 mil lot

There is a waterfront home for sale in Oakville that is reported to be the most expensive listing on MLS in Canada with a price tag of $59,000,000.  What we wanted to know is who owns it, who would possibly buy it and what do you get for $59,000,000?

Who Owns It?

Beer baron Hugo Powell is the owner, he is the past president of Labatt Brewing Co. Ltd. in Canada and later CEO of Belgium’s Interbrew SA, one of the world’s largest brewers.  Powell designed Chester Hall, as it’s known, to look 100 years old and the design was inspired by the 400-year-old ancestral home of Anne Boleyn.

Who Would Buy It?

According to the sales agent, only someone with a net worth of more than $200,000,000 could afford this type of investment.  Think about this, the monthly finance cost would likely be more than a quarter million dollars.  As a result, selling a property like this typically takes years and finding a buyer can be a worldwide search with such a limited number of people having that much wealth.

What Do You Get For $59,000,000?

Chester Hall is 10 acres of prime real estate on the shores of Lake Ontario.  The main home is 43,850 square feet.  I bet if you asked anyone how many bedrooms a home that size has they would guess more than 6, but that’s all there are.  They say that there is an attic that could be used to build more if needed though.

A few of the more unique features include;

  • a separate 800 square foot chapel
  • 2 separate pools, 1 indoor and 1 outdoor
  • an elevator
  • 14 bathrooms
  • a self-contained housekeeper suite
  • a bowling alley
  • an amazing theatre room

underground parking for 12 cars plus another 30 outdoors

If you are interested in finding out more about homes for sale in Oakville and the surrounding areas you can contact Saunders, Saxton & Winter. The SSW Team is located in the heart of Old Oakville, they have more than 60 years of experience and are experts on the Oakville real estate market. They will help you to make the right choices for you and your family. You can contact them at (905) 845-1223, email them at info@sswteam.ca or you can view some of their featured listings here.

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