The luxurious Turks and Caicos estate belonging to the late singer Prince is set to be auctioned off.
The 5.74-acre property is surrounded by water on three sides and includes several buildings with more than 10,000 square feet, two private beaches, a marina, and a long, winding driveway that Prince painted purple right after he bought the property in 2011.
The property had been built by as a retreat by an English family in the early 2000s. Prince bought it in about 2011 for an estimated $10.5 million, and then quickly bought two adjacent lots for an additional $2.5 million to ensure his privacy.
The stunning Caribbean hideaway was previously listed two years ago for $12 million, will now be auctioned off on July 12. While no starting bid was indicated, prospective buyers are required to place a $100,000 deposit and present proof of funds.
“Real estate values in the area ranges quite dramatically,” read the notice. “We suggest that all buyers do their own due diligence in regards to assessing value. This is the only opportunity to purchase this property.”
The idyllic retreat in the Turks and Caicos boasts 10,000 square feet of living space, jaw-dropping views of the Caribbean Sea, two beaches and amenities that would guarantee privacy and luxury when the star was away from his permanent home in suburban Minneapolis. The property is expected to fetch at least $15 million, the last two big sales in the area were no slouches. A house on a 4.5-acre parcel sold for $7.625 million, and a house on 5.38 acres on Parrot Cay sold for $17 million, $2.5 million less than the asking price.