Wellington horse stable estate’s owner nixes $3M offer

February 03, 2014 03:00PM

6560 Wild Orchid Trail in Wellington

The owner of a 15-acre equestrian estate in Wellington rejected a would-be buyer’s $3.4 million offer.

Electrical contractor Mike Miebach opted to hold off until the FTI Winter Equestrian Festival ends next month to potentially secure a buyer. Wild Orchid Stables features a five-bedroom home, pool, barn, pond and lake. The property is heading to auction March 1.

Miebach bought the parcel at 6560 Wild Orchid Trail in Palm Beach County’s gated Homeland community for $115,000 in 1998 and renovated it heavily.

“It was as simple as thinking there was the potential for something better when the WEF came to town,” Trayor Lesnock of Platinum Luxury Auctions LLC in Miami told Daily Business Review. “We had three or four interested and qualified lookers who didn’t want to bid by proxy but said they would be in town for WEF.”

Wellington resident Bill Gates’ daughter Jennifer is among the participants in the annual Winter Equestrian Festival, as previously reported. [Daily Business Review]Mark Maurer