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Late Shaw Communications executive s former luxury home up for auction

Late Shaw Communications executive s former luxury home up for auction
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Located at 102 Crescent Road N.W. in Crescent Heights, the house sold at a record-breaking price of $11.1 million in 2013, making it the highest ever recorded MLS sale price in Calgary at the time.

Currently listed at close to $10.9 million, bidding will open Nov. 12 and the home will sell to the highest bidder on Nov. 15 regardless of price in a no reserve auction format. Bidders who register early qualify for a 12 per cent opening bid incentive.

“This is a very special, unique property. It’s a once-in-a-lifetime opportunity to own one of the best homes in Calgary,” said Philip Dobson, project sales manager for Concierge Auctions, which is hosting the auction on its online marketplace.

He said auctions are becoming a more common method for selling ultra expensive properties.

“They’re becoming much more and more popular, especially at the luxury price point. Auctions are ideal for selling one-of-a-kind, incomparable properties,” Dobson said.

“When it comes to $5 million, $10 million, $20 million–plus homes, usually price often has no bearing on interest level and price reductions are ineffective at that price point. Rather than have a property sit on the market and wait for that buyer at $10 million … we bring the market to that property.”

The property is being sold furnished, as-is.

Featuring six bedrooms, five baths and three powder rooms, a Guggenheim-inspired glass dome ceiling and rooftop patio with a hot tub, the $11 million Crescent Heights home once owned by the late Jim Shaw is up for auction. (Courtesy Concierge Auctions)

The house has “everything you would expect in a higher-end property,” according to listing agent Corinne Poffenroth.

It’s perched up on a ridge about 10 minutes from downtown Calgary and just a few minutes’ walk from Chinatown. Overlooking the downtown skyline and with mountain and river views, the property occupies north of half an acre of land.

Its three levels total more than 900 square-metres, featuring six bedrooms, five baths and three powder rooms, a Guggenheim-inspired glass dome ceiling and rooftop patio with a hot tub.

The home, with floor to ceiling windows, also includes a gourmet kitchen and formal dining room, two fireplaces, a library and media room, wine cellar and professional workout room.

“With some ultra high-end properties, it’s challenging to know what to price them at,” Poffenroth said.

“With an auction format, the seller pretty much controls the sell date and leaves it up to a buyer to propose market value. At the end of the day, it’s a great opportunity for such a rare, unique, luxury property where there’s not that many comparables.”

Featuring six bedrooms, five baths and three powder rooms, a Guggenheim-inspired glass dome ceiling and rooftop patio with a hot tub, the $11 million Crescent Heights home once owned by the late Jim Shaw is up for auction. (Courtesy Concierge Auctions)

Shaw, the often-colourful former chief executive of Shaw Communications Inc., died in January 2018 at age 60 following a brief illness.

He stepped down from the Calgary-based telecom giant in 2010.

Shaw’s 12 years as CEO coincided with a period of significant growth for the company, with revenues rising from $646 million in 1998 to $3.7 billion by 2010. He also presided over the company as it built its platform for internet services.

Shaw attracted some controversy in 2011 after he sought to rezone a small parcel of land on McHugh Bluff adjacent to his Crescent Heights home so that he could expand his yard. The purchase was approved by council, before Shaw sold the luxury home in 2013.
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