“Gable Estate” Back on the Market at Quadruple the Price

The Gable Estate is a luxury mansion conducive to lavish living with a whopping price tag of $38 million. Between a bounty of features, and the steep price accession of four-times the listing price (since being listed two years ago), this home is a mark of affluence and elegance.

Is such a large price jump warranted? The home was recently renovated, carefully retaining the Tudor style and keeping its integral personality while evolving it into a more contemporary living space. Oak panelling still adorns the entrance while other features have been upgraded to a more modern style. Just look to the stairs, and you can admire the beautifully open staircase with light wood and white, brightening and visually expanding the space. But are they $28.5 Million worth of renovations? Some are skeptical. Tsur Somerville, a working professor at University of British Columbia for business, quoted to CTV News “A 300 per cent increase when the market has gone up 60 per cent… That’s a lot of really nice renovations.”

Even so, the 10,000 square foot mansion is a wonder in itself, being the largest estate property in Vancouver at 4.25-acres. Even just outside the home has enough features to tantalize and possibly keep the owner outside for most of the day. The multiple acres of land has pristine lawn, some of that lawn being two golf greens. Alongside, it has an outdoor fire pit and private lake. And for those who are not keen about swimming in lake water, there is a 65’ infinity edge swimming pool. Surrounding the pool is a plentitude of contemporary paved patio with decorative landscaping, bordered by well-established trees. To top it off, there are views of the B.C. Gulf Islands.

For the interior, it has 6 bedrooms, and 9 baths. With a wine cellar that has its own tasting room, the interior is just as desirable as the outside of this home. Additionally, it has the aforementioned 10,000 square feet, and enchanting blend of classic and contemporary styling boosting its desirability.

This c. 1929 home is treasured once obtained, having only had 3 owners in its 87 years since being made for the President of B.C. Electric, W.G. Murrin. With the last sales in the area only reaching 10 million, we’ll just have to see whether this home will succeed in the market at $38 Million. The price might just be technique to make the home more prestigious.

“You might want to ask for more than you actually think you’re going to get in order to create that feeling of a rarified environment and the feeling of getting a discount when you actually sell it,” Somerville said.

Whether the home is worth the price, or even if the seller expects to get the full $38 Million, we can’t help but be captivated by the Gable Estate.

Listed by Greg Carros.