WEATHERFORD, TX--(Marketwire - Oct 1, 2012) - Canyon West Golf Club and the adjacent land known as Mickle's Valley View Ranch sold for $4,798,000 Thursday, when a capacity crowd gathered for an auction of the properties.
The golf course sold for $2,250,000, and land that has been part of Mickle's Valley View Ranch attracted substantial interest as well, according to Will McLemore, president of McLemore Auction Company, which conducted the auction in cooperation with Schrader Real Estate & Auction Company of Columbia City, Ind.
"As we had expected, the demand seemed to be greatest for the tracts with Interstate 20 frontage because of their high visibility and potential for development," said McLemore. The 12 tracts closest to the interstate -- 154 acres -- sold as a group to one buyer for $1,725,000.
In all, seven different bidders purchased property at the auction.
"People seemed to have done their homework and developed a clear idea of what they were seeking, so they zeroed in on the properties that best met their needs," said McLemore. Bidders competed for well over two hours, offering bids in various combinations of tracts.
The property has been owned since the mid-1990s by the family of Wes Mickle, who -- along with son Stan -- had operated Mickle's Valley View Ranch as a respected horse breeding and boarding operation and later built the golf course.
"We prayed for a long time over the decision of when to sell, how to do so, and who would be best qualified for this important task. The McLemore and Schrader team did a superb job, and we are very pleased with the result," said Mickle.
McLemore Auction Company, based in Nashville, has established itself as an emerging leader in the use of live and online auctions to sell homes, farmland and other real estate, as well as personal property. Schrader Real Estate & Auction Company, based in Columbia City, Ind., is one of the nation's leading real estate auctioneers.