ASPEN — One of the most secluded properties in the Aspen area went on the market this month when Tom and Molly Bedell decided to sell their Peace Ranch up Taylor Creek in the Fryingpan Valley.
The property doesn’t have a large trophy house, but it’s got something no other listing can offer: a riding area and surrounding accouterments that cover a full acre, or about 43,000 square feet. The building also contains a “cool bar,” fitness center and a two-bedroom apartment, said Tommy Latousek, manager of the ranch division of Joshua Co., which has the listing. The indoor riding arena itself makes horse people drool, he said, because it is 108 feet by 204 feet.
Molly Bedell said via email that the decision to sell Peace Ranch wasn’t easy. She and Tom are spending significant time in Bend, Ore., where their guitar factory is located, and in Nashville, where they opened an 8,000-square-foot music store and live music venue, she wrote.
“So our time has been more and more limited in Colorado,” Bedell said. They will continue to spend time in Aspen, where they have another Two Old Hippies store.
The Bedells bought what was known as the Schweppe Ranch in 2003. Peace Ranch has five houses that total about 11,000 square feet. All are new or recently remodeled.
The property is perfect for a family that wants a private location surrounded by national forest, Latousek said. There is no public access to the property, which is an island of private land, known as an inholding, surrounded by the White River National Forest. There is no other house in sight.
“It’s 610 acres but feels several thousand acres larger,” Latousek said.
The amenities include four stocked
trout ponds, numerous trails, an outdoor riding arena and various corrals and a snowmelt system.
The ranch is about 15 minutes from Basalt and 45 minutes from Aspen, so it offers privacy within close proximity of the towns. It is possible that Peace Ranch could attract the type of buyer that uses a helicopter to commute to and from home.
“It’s a five-minute helicopter ride from the Aspen airport,” Latousek said.
The Bedells are asking $49.5 million for their ranch. If they got full asking price, it would set a record for high sale in the Aspen-area. Saudi Prince Bandar bin Sultan’s 90-acre Hola Ranch and an adjoining property sold for $49 million earlier this month. Mandalay Ranch outside Snowmass Village sold for $46 million in 2004. Crystal Island Ranch, outside Carbondale, purchased by Leslie Wexner, sold for $47 million.
“This property can certainly compete with all those,” Latousek said.
It’s not the highest priced property on the market. Aspen Valley Ranch is for sale for $52 million.
Latousek said he views Peace Ranch as a “terrific candidate” for a conservation easement. That occurs when a landowner reduces or extinguishes the development potential and receives tax credits and other tax incentives in return.
“It’s the kind of property that shouldn’t be developed to an extensive level,” he said.
scondon@aspentimes.com