Cambridge mansion listed for three times the price of Justin Bieber’s Puslinch Lake house

CAMBRIDGE - Justin Bieber made waves on Puslinch Lake in 2018 when he paid about $5-million for his home.

Now, just 10 kilometres away, there's a property selling for three times that amount.

With a listing price just under $15 million, this three-storey palatial mansion located on Wellington Road 34 in Cambridge features seven bedrooms, 10 bathrooms and just under 9,000 square feet.

And, yes, it comes with its own airport, complete with an airplane hangar and runway for anyone that needs to get in and out in a hurry.

This is extremely rare to find on the market," said Cambridge Association of Realtors president John Teixeira. It's an anomaly. These types of houses only become available very seldomly."

Due to advertising restrictions set out by the Real Estate Council of Ontario, Teixeira is not allowed to give out a list of the most expensive homes ever sold in Cambridge.

But in his career as a realtor, he said, he has never seen a home hit the market listed for more than $10 million in Cambridge.

This is really the top of the top," he said.

The property is located beside the head office of Reid's Heritage Homes, the original owners of the property. It is being sold by Sam McDadi Real Estate.

Have a big car collection? This mansion comes with a massive circular driveway that can accommodate parking for up to 42 vehicles.

Inside, architectural marvels include wooden high-beam ceilings, stone and brick fireplaces, a library, grand hall and monstrous primary bedroom with an ensuite bathroom that looks fit for a queen. The house also comes complete with a nanny suite and guest quarters.

Outside, the 120-acre lot features extensive landscaping with a private pond and a large custom-made gazebo.

The house was built in 1988 and annual property taxes come in around $28,000.

So, who exactly would be in the market for this type of home?

It is usually not someone local that is in the market for something of this scale, said Teixeira.

It's going to take a tremendous amount of marketing, and that's going to require marketing outside of Canada," he said. Usually, the typical buyer for something this extravagant has more than one home."

The property is going to appeal to someone who has their own plane and pilot, he said, because the air strip allows the owner to travel directly from their backyard. That bodes well for an international buyer constantly on the move.

The Bieber house on Puslinch Lake is probably the most comparable local property. That house - which came with 101 acres of land, an equestrian facility and a house featuring more than 9,000 square feet - sold in the neighbourhood of $5 million.

It was first listed on the market in 2014 at $5.5 million before dropping to $5.28 million in 2016 and then $4.9 million in 2017. The singer bought the property in 2018.

In today's real estate market, the average house is usually selling within a matter of weeks but that won't be the case for this Cambridge mansion, said Teixeira.

In general, he said, a property of this prestige will generally take years to sell.

It's a once-in-a-lifetime opportunity and it's going to make sense for someone," he said. But it's going to take a special buyer."

Robert Williams is a Waterloo Region-based reporter for The Record. Reach him via email: robertwilliams@torstar.ca