BUSINESS

$54 million Alberta ranch sets property listing record for province

06/09/2015 05:08 EDT | Updated 06/09/2016 05:59 EDT
CALGARY - A sprawling cattle ranch south of Calgary has set a record for the most expensive residential property ever listed on Alberta's MLS system, according to Sotheby’s Canada Inc.

Sotheby's has listed the 6,000-hectare Bar-N Ghost Pine Ranch for a hefty US$42.5 million, or $54 million Canadian.

"People that are looking to buy this type of ranch are people that are not really affected by what's happening here with the economy," said Renata Reid, the Sotheby's real estate agent selling the property.

The property sits near the town of Claresholm, about an hour and a half drive south of Calgary and an hour north of the U.S. border.

The Bar-N Ghost ranch has 800 cattle and 36 Angus cross bulls and all the barns, corrals and sheds needed for a working ranch. The property includes 3,660 hectares of deeded land and 2,300 hectares of leased land.

There is also a 5,200-square-foot ranch home, a guest home, and four village houses for a full crew.

"The type of buyer is a food-chain operator that is looking to supplement their beef supply," said Reid.

"Or it can be someone that is international but looking for a high-end hunting ground for mule deer and elk," added the realtor, who sifted through MLS listings to establish the ranch as the most expensive ever.

The property is being sold by a retired oil and gas executive who has chosen to remain anonymous. According to Reid, he is selling the property because his health prevents him from running the ranch.