Justin Timberlake’s real estate ventures have taken another turn as he sells a significant piece of land in Tennessee.
After nearly a year on the market with an initial asking price of $10 million, the Grammy-winning artist has successfully sold the expansive property for US$8 million – doubling his initial investment of US$4 million made nine years ago.
Timberlake, 43, originally acquired the nearly 127-acre parcel in the affluent Franklin neighbourhood in spring 2015, according to the Robb Report.
He purchased the land from local philanthropist and preservationist Aubrey Preston, who sold Timberlake a portion of his larger 224-acre property.
The land, situated near the historic village of Leiper’s Fork, is under the protection of The Land Trust for Tennessee, ensuring it remains undeveloped.
Preston had commented at the time of the sale on their shared love for Tennessee and their commitment to preserving its natural beauty for future generations.
The picturesque property, located along the Natchez Trace Parkway in Williamson County, offers a variety of natural features.
It boasts 50 acres of open pasture, wildlife food plots, a spring-fed fishing pond, and woodsy trails, providing panoramic views of the surrounding valley.
The listing, managed by Tom Sullivan of Covey Rise Properties, highlighted dual entrances, one of which includes a scenic covered bridge over Dobyns Branch Creek, and another suitable for construction access or horse trailers.
In addition to this recent sale, Timberlake and his wife, actress Jessica Biel, own a mansion in Hollywood Hills, which Timberlake bought from Helen Hunt over two decades ago.
Despite a recent attempt to sell it for $35 million, the property was pulled from the market.
The couple also owns a home in the exclusive Yellowstone Club near Big Sky, Montana.
Further extending his real estate portfolio, Timberlake co-owns a bar and restaurant in Nashville and has purchased additional land northwest of the city.
He plans to develop this property into an 18-hole golf course in partnership with a luxury golf company.
