$26M Surrey vineyard estate set to break Fraser Valley record

Tuscan-style Surrey villa could break sales record An estate being marketed locally and overseas could break a Fraser Valley record if it sells for the asking price of $26 million.

April 3, 2018 update: The home was not sold in 2017, and was re-listed for $28.8 million.

A luxury property in Surrey is set to break a Fraser Valley real estate record if it sells for the asking price of $26 million.

Known as Villa di Fonti, realtors described the 13,000-square-foot (1,208-square-metre) mansion as "an old world Tuscan vineyard estate, with all the modern luxuries you can imagine."

Real estate expert Carolyn Glazier said the property was designed for an owner who loves to entertain.

The 77-acre property was finished just a few years ago. In addition to the sprawling home, it includes a vineyard, helipad, putting green, pool and hot tub, a massive patio and a koi pond. There are also two lakes, one of which is stocked with trout. The other has a man-made beach.

The eight-bedroom home includes "four VIP guest suites," a video listing says, as well as an elevator, movie theatre, bar, wine cellar and catering kitchen with private entrance.

Altogether, the property was assessed at less than $3 million this year. The residential part of the property was assessed at $986,000, up about $184,000 from 2016.

The home sits on agricultural land, but a brochure targeting would-be buyers boasts the possibility of low foreign buyers tax due to farm status.

"We're doing an international push, but there's people in Vancouver that can afford this property," Glazier said Tuesday.

She said they believe it's worth the sky-high listing price, nearly 10 times higher than the assessment.

Glazier said the list price took into account the millions of dollars spent on landscaping, as well as the amenities inside and outside the house. They also considered the potential for owners to make money by renting portions of the property, which has housed film crews and wedding shoots in the past.

"The whole process, the numbers can be backed up," she said.

"This isn't a number that has been pulled out of the air. It's a legit figure."

And if realtors are able to find a buyer willing to shell out $26 million, the sale will break a record in the area.

The Fraser Valley Real Estate Board told CTV News no homes in the region have sold for more than $20 million, and only eight in the MLS database sold for more than $10 million.

The benchmark price of a single-family detached home was $966,000 in July, a representative from the board said.

Realtors for the current owners, a couple looking to downsize, say they've already heard from prospective buyers.

With a report from CTV Vancouver's Scott Hurst