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Hunting preserve for sale at $4.2 million
The Savannah River Preserve, a 1,200-acre full-service hunting preserve that opened in Screven County in March 2008, is for sale for $4.2 million.
Owners Nicky and Kay Powell have put the property up for sale because of his health problems. Kay Powell said the preserve has done well in its first few months of operation, attracting several hundred hunters.
She said she hopes her husband will get better and the couple will be able to run the place for many more years. But selling such an expensive, large piece of property isn’t easy, especially in these hard economic times, and the couple would like to see what options they may have. “We’ll see if anyone bites,” she said.
Nicky Powell builds homes in Effingham County and constructed all of the buildings at the preserve, too. The couple live in the 2,500-square-foot lodge and operate the preserve, which includes four cabins and an indoor archery range as well as outdoor archery and sporting clay ranges.
The many buildings on the property include a 36-foot by 120-foot heated and cooled pavilion with two restrooms, full kitchen and table and chairs for 150 people.
The preserve’s wild game includes deer, hog, turkey and quail.
It’s not often that a piece of property that large comes on the market, said Jason Williams, owner of Plantation Properties and Land Investments in Statesboro, who is selling the land and has details about it on his Web site, at www.galandbrokers.com. ”It’s got to be a pretty unique buyer. You don’t have people spending money on things like that,” very often, he said, especially these days.
Before the real estate market collapsed, big companies would have been more likely to consider purchasing such a property as a corporate retreat, he said. And businesses were more likely to use tax-free exchange accounts, selling real estate and rolling money back into real estate within 180 days to avoid paying capital gains taxes.
It may take a buyer who wants to do what the Powells had hoped to do – live on the property and manage the business themselves, he said.
The couple paid about $2.7 million for the property about three years ago and began constructing the buildings about 18 months ago. More information about the preserve can be found at its Web site: www.savannahriverpreserve.com.