Unlucky with the law, lucky in business… American pop singer Justin Timberlake, who recently made headlines for his drunk driving arrest, had just made a great real estate deal. The Memphis, Tennessee native had acquired a 51-hectare plot of land in his home state, not far from the historic village of Leiper’s Fork, for $4 million in 2015. This non-buildable plot had been purchased from Aubrey Preston, a philanthropist and local environmental activist, who had given the 43-year-old artist half of one of his plots.
While nothing had leaked at the time about what Justin Timberlake intended to do with his land, he had nevertheless chosen to put it up for sale nearly a year ago at the ambitious price of $10 million. The plot located about thirty kilometers from Nashville includes in particular twenty hectares of pastures, a fishing pond fed by a spring, wooded trails, etc. All offering a breathtaking view of the bucolic surrounding valley. At the time he sold his land to Justin Timberlake, Aubrey Preston had made great ecological declarations: “We both share this love of Tennessee and appreciated how we grew up rooted in this land, he declared daily The Tennessean. We want to do our part to preserve this for future generations and our children.”
A 20% discount
Finally, failing to work for the preservation of the planet, Justin Timberlake will be able to console himself with a (large) added value. According to the specialized site Robb Report, the sale of the land finally materialized for 8 million dollars (7.5 million euros). Certainly, this represents a 20% discount on the sale price but it still allows the Grammy Award-winning singer to display a 100% added value. Over these nine years of ownership, his land saw its value increase by 8% each year without any intervention or investment. An interesting investment…
