posted on December 03, 2010 22:12
Austin-based Spur Ranch Inc. (OTCBB: SPRA) has signed a deal to buy a 15-acre property in Spicewood that it plans to make into a polo school, film site and development prototype.
The company is buying the "Rockin A Ranch," which fronts Highway 71 in the West Austin suburb, for about $657,000. The property includes a nine-stall barn, house and pool. It will serve as the home base for the Spur Ranch Polo Team and Polo School and as a sort of small-scale prototype for potential partners, builders, developers and stakeholders.
Officials said in a press release the project will also be the first feature in a planned television show based on "extreme-barn-makeovers." The property will be transformed into a working polo and "gentleman's-style ranch," with a grand sandstone entry leading to a rock home.
"I think when people see what we do with the Rockin A Ranch they are going to be surprised, and they are going to say, 'Hey, I want that life too," Spur Ranch CEO Andrew Stack said. "It's exactly what it sounds like — real life polo as a backdrop to a champagne fluted Sunday afternoon party, yet for all its glitz and glamor, you don't need Wall Street's bankroll to afford it."
The deal is expected to close by Jan. 15, 2011
12/2/10, Austin Business Journal