Tom Cruise’s Colorado mountain ranch is for sale – and for US$39.5 million you can call Ralph Lauren, Robert Redford and Neil Young your neighbours
- The pandemic has inspired the world’s richest to seek out remote rural and coastal getaways – who might be eyeing up Cruise’s 130-hectare Telluride home?
- Elsewhere ultra-luxury properties in lakeside Okanagan, Canada, ski chalets in Aspen and condos on Florida’s Palm Beach are all soaring in value
According to Knight Frank’s “Wealth Report 2021”, 26 per cent of ultra-high-net-worth individuals (UHNWIs) globally are planning to buy a new home in 2021, up from 21 per cent in 2020.
Lakeside living doesn’t come much posher than at the C$10 million (US$8.1 million) penthouse at One Water Street, British Columbia, Canada.
Setting a new benchmark for luxury real estate in the Okanagan region, the landmark property is priced at nearly three times the highest valued condominium reported sold on multiple listing service in the history of the Okanagan region. Don Kottick, president and CEO of Sotheby’s International Realty Canada, says this reflects the evolution of the region’s luxury real estate market as it continues to experience accelerated sales and price growth.
“This is a notable and timely listing for the B.C. real estate market,” he said. “There has been a surge in demand for luxury properties outside major metropolitan areas since the start of the pandemic, launching cities like Kelowna onto the national and global map.”
While many luxury real estate buyers are seeking primary and holiday homes that will offer more space and better access to the outdoors, many also desire the convenience, security and high-end amenities of condominium living, he added. “The One Water Street penthouse offering is uniquely positioned to appeal to this demand.”
Located in the arts and cultural district of downtown Kelowna, One Water Street’s two towers, at 36 and 29-storeys, rises elegantly above the waters of Lake Okanaga. The soon-to-be-complete penthouse offers 4,500 square feet of customisable interior space designed by Toronto-based Gluckstein Design, including a master wing and the opportunity for at least three bedrooms and three-and-a-half bathrooms. An additional 2,600 square feet of exterior living space features a chef’s kitchen and panoramic lake views.
With nearby restaurants, shops and entertainment within walking distance, residents have exclusive access to The Bench, a 1.3-acre fourth-floor oasis with resort-style amenities including two outdoor swimming pools, a hot tub, outdoor lounging with fire pit enclaves, health club with yoga/Pilates studio, entertainment/kitchen area and pickleball court.
