By Beckie Strum –
Prince’s five-acre Caribbean island estate will hit the auction block in July.
The late musician, who won eight Grammy awards and died suddenly at his home in Minneapolis in 2016, owned a lavish waterfront home at the tip of a peninsula on Providenciales Island in Turks and Caicos. After trying for over a year to sell the property, Prince’s estate will auction off his second home on July 12, according to Premiere Estates Auction Company, which is handling the sale.
The Turks and Caicos property first hit the market for $12 million in May 2016, a month after his death, with Christie’s International Real Estate but never sold.
The uniqueness of the property and its ownership make it hard to value, the auctioneers said in a statement Monday.
“With a unique property like Prince’s Turks and Caicos estate, we anticipate significant interest and multiple bidders,” said Todd Wohl, founder of Premiere Estates, in the statement.
Prince lived primarily at his Paisley Park Studios compound in his hometown of Minneapolis, but he still left his mark at his second home in Turks and Caicos. He painted the driveway in royal purple, his signature color.
The Mediterranean-style home, with its red tile roof and pale stucco facade, spans 10,000 square feet, with six bedrooms and six bathrooms, according to the auction house.
To participate in the bidding, Premiere Estates is requiring prospective buyers to submit a refundable registration deposit of $100,000, according to the auctioneers.
Prince died in April 2016 at the age of 57 from overdosing on a fentanyl, a counterfeit version of opioid painkillers.
Originally published on Mansion Global