For Sale: Texas Ranch Bigger Than LA And NYC

For Sale: Texas Ranch Bigger Than LA And NYC

A Texas ranch that is bigger than New York City & Los Angeles combined is on sale for $725m (£465m).

The WT Waggoner Estate, which spans 510,527 acres & six counties in northern Texas, is the largest ranch in the US inside one fence.

The property boasts more than 1,200 oil wells, 6,800 head of cattle, 500 quarter horses & 30,000 acres of cultivated land.

Dallas-based broker Bernard Uechtritz says more than 600 potential buyers have expressed interest since it went on the market earlier this year.

Mr Uechtritz, of Briggs Freeman Sotheby's International Realty of Dallas, says they have the shortlist down to fewer than a dozen.

They include "well-known individuals" both "foreign & domestic", he said, while declining to divulge names.

Mr Uechtritz told Sky News: "It's a one of a kind – over half a million acres that's been in one family for 165 years.

"Oklahoma was still Indian territory when it was first developed. Abraham Lincoln was in Congress.

"It moreover comes with the legend & the lore & the history of the Waggoner family & brand.

"They were to Texas what the Churchills were to England."

The ranch has a colourful past. President Theodore Roosevelt liked to hunt wolves there, while vaudeville star Will Rogers would visit to play polo.

The estate was founded by rancher Dan Waggoner, who began buying up land in 1849.

His scions became among the most flamboyant families of the Roaring Twenties.

Only 56,000 acres of the estate have been developed for oil, leaving more than 450,000 acres untapped.

The family will retain 12.5% of the mineral rights in any sale.

The ranch was put on the market because of a legal feud among the relatives over how to liquidate the property.

It has 120 employees, some from families who've worked on the estate for generations.

Though it rivals the state of Rhode Island in size, the Waggoner is not the biggest ranch in the US.

The King Ranch in southern Texas, which is divided into separate parcels of land, actually covers a larger area.

Its estimated value is $1.1bn.

Source: “Sky News”

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