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For Sale: Equestrian Paradise

Tribune photo by FRED BELLET

The 360-acre Sheik Island Farms in Dade City can be yours for $7.9 million.

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By GEOFF FOX

gfox@tampatrib.com

Published: October 12, 2008

DADE CITY - Sunlight glinted off Lake Pasadena as a warm breeze eased through Spanish moss hanging low on the surrounding oaks and sweet gum trees.

From inside a large horse barn at Sheik Island Farms, two sandhill cranes could be seen flying over nearby Buddy Lake.

Kim Wilson has enjoyed the scene countless times, and it never gets old.

"It's so peaceful out here," she said.

That's one of many reasons it's hard to walk away from the sprawling property, which features a state-of-the-art equestrian facility that she and husband John built 10 years ago.

Besides the large barn, which features 16 spacious stalls, the 360-acre property features a smaller barn with eight stalls, two houses and a two-story office building that includes a three-bedroom apartment.

Surrounded by rolling hills, orange groves and woodlands filled with wildlife, the property is being marketed by Sotheby's International Realty, a name usually associated with high-profile auctions of art, jewelry, furniture and all manner of valuables once possessed by the rich and famous.

The property is listed at $7.9 million. Despite a sluggish economy, the price isn't exorbitant, said Sotheby's agent Julie Riegler.

"We've had a couple serious inquiries from Florida and the Midwest," she said. "We get a lot of inquiries from Canadians, too. A lot of the people who invest in large parcels in Central Florida are Canadian. Their exchange rate helps them."

Riegler said prospective buyers in Brazil, Ireland and England also have shown interest.

Several Markets Targeted

Sotheby's markets the farm through its own Web site and publications, as well as on dozens of Web sites that feature luxury homes. There are also notices on several equestrian Web sites and publications, most of which are distributed internationally.

"We'll also heavily target Horse Shows in the Sun. That's a big horse show in Ocala that goes on in February and March," Riegler said. "It brings a lot of people to Florida. We'll hit that pretty heavily."

The property could be used as a private residential retreat, as it is now, or for a business.

"It's not an active business, but it could be anything from boarding to training to showing to foaling," Riegler said. "We target the people who are professionals. Some of the leads we've gotten are people growing out of their existing farm, relocating for business reasons or they just need a bigger, nicer facility."

Both houses on the property overlook Buddy Lake. One, built in 1997, is 2,154 square feet. The ranch-style home has three bedrooms, two bathrooms, a screened lanai and pool.

The other, a cottage-style house, was built in 1941 and fully renovated in 1998. It features three bedrooms, two bathrooms and a screened back porch.

Glossy marketing materials tout the farm's proximity to polo venues in Sarasota and The Villages, as well as the Ocala Breeders Sales Company, Florida State Fairgrounds in Tampa and the Little Everglades Ranch in Dade City, home to a popular annual steeplechase.

The property sits off Fort King Road, southwest of Dade City, and includes two large riding fields and seven fenced pastures.

Farm manager Debbie Hutchinson said bobcats, coyotes, foxes and other wildlife live in the surrounding woods and that otters have been seen in the lakes. The farm becomes an island only when the water rises enough for the lakes to connect.

Family Hunted, Competed

Kim Wilson said her family bought the property in 1997 and started building on it the following year. Her father, Rick Michaels, is chairman and chief executive officer of Communications Equity Associates in Tampa and an avid fox hunter.

Her father's prized hunting horses have lived at the farm, as well as horses she has ridden in jumping competitions. Her husband has played professional polo.

When she first glimpsed the Sheik Island land from atop a nearby hill, Wilson said she envisioned a horse farm there. Since then, the property has been home to about 40 breeding horses, show horses and hunting horses.

"At the peak, we probably had about 30 horses here at one time," she said.

While the property is picturesque and the amenities everything she wanted in an equestrian facility, Wilson said she is selling because her family, including two small children, decided to move back to Tampa.

"I think Sotheby's can get the job done," she said. "They have a great marketing strategy and worldwide exposure. Something this size and quality, it's just not meant for someone who wants to put a couple of horses out here."

Reporter Geoff Fox can be reached at (813) 779-4613.

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