CHATTANOOGA, Tenn., March 29, 2016 /PRNewswire/ -- Platinum Luxury Auctions, a real estate auction firm specializing in the sale of unique, multimillion-dollar properties within and beyond the United States, has announced the upcoming auction sale of an impressive waterfront estate in Hixson, Tennessee, a community located in northern Chattanooga. With no takers at the home's recent asking price of $3 million, it will now be sold at a live auction to the highest bidder who meets or exceeds a bid price of only $1.25 million. Platinum is managing the auction in cooperation with listing brokerage Alliance Sotheby's International Realty, who is represented by listing agent Sandra "Sandy" Poe. The sale is scheduled to take place on the property premises on April 23, 2016.
"We're thrilled to be working in concert with Sandy and Alliance Sotheby's International Realty on this transaction," stated Bradley Pruitt, Platinum's director of business development and veteran Tennessee real estate industry professional. "We believe there is a significant opportunity for our firms to work together long-term, to service the increasing amount of under-marketed luxury home sellers in the broader market area."
Situated on approximately one acre and offering more than 250 feet of frontage on Chattanooga's Chickamauga Lake, the property is a perfect retreat for those who love to spend their spring and summer taking full advantage of the waterfront lifestyle. In addition to several balconies and terraces that provide beautiful water views, the lakeside of the estate offers a custom pool with oversized pool deck, a barbecue area, and a private boathouse with two slips, a jet ski lift, and a sun/swimming deck.
In addition to its waterfront location and outdoor amenities, the residence itself is quite impressive. A landscaped courtyard with an Italian bronze water fountain and a large porte cochère allow for a grand arrival. Inside, two living levels offer more than 9,700 sq. ft., with 4 bedrooms, 4 full and 2 half baths. The luxurious master suite is complete with his-and-hers walk-ins, custom-painted barrel ceilings, and an oversized master bath. Additional features include an indoor waterfall, custom-designed wrought iron staircases, a theater room, gourmet kitchen, wine room, billiards area, gentleman's pub, fitness center and an 8-car garage.
"Given its construction quality and the degree of its interior finishes, bidders have an opportunity to acquire this property at a significant discount to reproduction cost," noted Chase Boruff, Platinum's project manager for the transaction.
Chattanooga has received consistent accolades within recent years, including three national awards for "outstanding livability" and nine Gunther Blue Ribbon Awards for excellence in housing and consolidated planning. Although it has a sizable and vibrant urban core - ranking as Tennessee's fourth-largest city - Chattanooga is also a haven for those who love the great outdoors, with activities such as hang-gliding, bass fishing, mountain climbing and spelunking readily available.
Property previews commence March 31, 2016, and continue every Thursday through Sunday between the hours of 12:00 and 4:00 p.m. until the auction date. Interested parties may contact Platinum Luxury Auctions at 800.589.1439 or visit LakeFrontLuxuryAuction.com.
About Platinum Luxury Auctions
Platinum Luxury Auctions specializes in the non-distressed sale of multimillion-dollar properties within and beyond the United States. The Platinum team has closed more than $445 million in luxury real estate auction sales to date, while consulting on more than $1.5 billion in additional luxury properties worldwide. The firm is responsible for developing the luxury auctionSM model for high-priced real estate auctions.
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SOURCE Platinum Luxury Auctions