A 14.3-acre equestrian estate in Wellington, Florida, that was last listed for $8 million in March, is hitting the auction block with a reserve price of $3 million early next month.
The property, dubbed Kismayo Farm, is split into two parcels. The nine-acre main parcel includes a house, a 12-stall barn and other outbuildings, while the other five-acre, vacant lot is ready for future development, according to Trayor Lesnock, president of Platinum Luxury Auctions, which is handling the live auction on the property May 5.
"The five-acre parcel has been raised 16.7-feet above sea level, leveled and irrigated, making it ready for any number of options, either residential or equestrian," Mr. Lesnock said.
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Located just minutes from the Palm Beach International Equestrian Center, where the Winter Equestrian Festival takes place from January to April, the estate has been owned by Kenyan-born Anthea K. Christian since 2000, public records show.
Ms. Christian began in the equestrian sport by doing "eventing" in Massachusetts and Virginia, then moved to Wellington and performed in the Dressage discipline, according to Mr. Lesnock.
Ms. Christian couldn’t immediately be reached for comment.
"She’s no longer involved in the equestrian business and is moving back to Kenya after the sale," he said.
The residence has approximately 5,000 square feet, including seven bedrooms, five-and-a-half bathrooms, a gourmet kitchen, a great room, dining room and living room. From onyx baths to marble floors, the home features top-of-the-line materials throughout.
The backyard of the house has a 50-foot salt-water lap pool, according to the listing.
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Outbuildings include a 700-square-foot groom’s quarters, a 1,000-square-foot building for equipment, as well as a 12-stall barn. There are also 10 paddocks and a mirrored, 65-foot-by-200-foot dressage arena, which offers five additional stalls.
"Careful consideration was taken in the placement of the barn on the property, which is situated to allow a constant, natural breeze to flow through," Mr. Lesnock said.
Interested bidders need to register and make a refundable deposit of $100,000 before May 4, Mr. Lesnock said.