realestate

Westminster Estate Sells for $10 Million; Local Offices and Retail Thrive

$10M Equestrian Estate Listed in Westminster; Greenville Office Vacancy Drops Amid High Retail Demand and Refinance Activity.

A
sprawling equestrian estate near Westminster, 822 Poplar Springs Road, boasts a 16,000-square-foot home, an 11-stall barn, and a $10 million list price. The property, known as Rolling Meadows, spans 171 acres of Oconee County's foothills, featuring pastures, a stocked pond, and a grand house with eight bedrooms, including an in-law apartment.

    The main-level owner's suite features a tray ceiling and gas fireplace, while the bathroom boasts heated marble flooring and Swarovski lighting. The home also includes a dark-wood English pub ambiance on its bottom level, a home theater, fitness room, exterior swimming pool, and a sauna that can accommodate six to eight people.

    The barn features a misting system, an air-conditioned office and tack room, and a second-floor caretaker's apartment with a full kitchen. The listing agent is Pat McNamara of Joan Herlong and Associates Sotheby's International Realty.

    In other real estate news, the Greenville office market continues to show signs of recovery, led by downtown business district where premium spaces are limited and in demand. Vacancy rates dropped as asking rents rose sharply, highlighting a strong third quarter for the region's office market. The central business district had 1.8 million square feet of office space with a vacancy rate of 7.44 percent.

    Retail demand remains high in the Upstate, keeping the region's vacancy rate at a record low of 3.3 percent. Continued population growth has driven demand for retail spaces, outweighing higher-profile closures in traditional mall space. The downtown area is vibrant, attracting both local and national retailers, with a thriving retail environment.

    The drop in mortgage rates between July and September spurred an uptick in refinancing, as homeowners who plan to stay in their homes longer were willing to capitalize on the option to obtain lower market mortgage rates and withdraw home equity. Stronger cash-out refinancing activity is a leading indicator for the residential remodeling market, with homeowner equity per owned household around $400,000.

Westminster estate sold for $10 million in thriving local office and retail area.