Dissatisfied with the law, happy in business… The American pop singer Justin Timberlake who recently made headlines for his drunk driving arrest, had just closed a great real estate deal. The native of Memphis (Tennessee) purchased a 135-acre plot of land in his home state, not far from the historic village of Leiper’s Fork, for $4 million in 2015. The undeveloped land was purchased by Aubrey Preston, a local philanthropist and environmental advocate, who donated half of one of his plots to the 43-year-old artist.
Although nothing was leaked at the time about what Justin Timberlake intended to do with his land, he still chose to put it up for sale almost a year ago at the ambitious price of $10 million. The land located approximately thirty kilometers from Nashville it includes about twenty hectares of pastures, a fishing lake fed by a spring, wooded paths, etc. All this offers a breathtaking view of the bucolic surrounding valley. Back when she sold her land to Justin Timberlake, Aubrey Preston made some big environmental statements: “We both share this love for Tennessee and appreciate how we grew up rooted in this land, he declared every day The Tennessean. We want to do our part to preserve it for future generations and for our children.”
A 20% discount.
Finally, by failing to work for the preservation of the planet, Justin Timberlake will be able to console himself with a (great) added value. According to the specialized website Robb Report, the sale of the land for 8 million dollars (7.5 million euros) finally materialized.. This certainly represents a 20% discount on the selling price but still allows the Grammy Award-winning singer to show 100% added value. In her nine years of ownership, her land has seen its value increase by 8% each year without any intervention or investment. An interesting investment…