There are a lot of parcels larger than 158 acres that produce hay; however, there is one hay farm for sale in Idaho that has grabbed the attention of developers from across the country.
The hay farm in question is called Peregrine Ranch. It is the largest open piece of land left in the upper Wood River Valley, just a short drive from Sun Valley. This juicy property really is a working hay farm but it is also much more.
Peregrine Ranch is owned by the well-known Rinker Family, who have already developed some of the best-known properties along the resort-rich upper Wood River region, including the Gimlet community in the 1970s and Hailey’s Golden Eagle Ranch in the 1990s.
“A guy named Rinker called to talk to me about a request for qualifications to handle the sale of this property,” a happy John Starr of Colliers International told the Idaho Business Review. “It was a career moment for me. I’ve worked many years for this.”
Starr had every reason to be pleased because he and his Colliers colleague, Jimmy Roumanis, now represent the owner in selling the last big private property left close to Sun Valley. The attributes of Peregrine Ranch would make it a desirable property even outside of its proximity to the famous winter resort; however, the mountain-wrapped panorama alone places it in a category of its own. It is currently zoned for low-density residential.
The ranch listed near the end of October. The Intermountain Multiple Listing Service shows an asking price of $35 million. Colliers International has devoted a dedicated website for the sale of property at peregrineland.com.
The west side of the property is bordered by State Route 75. The east side is bounded by the Wood River Trail, a paved 20-mile all-season recreational trail that runs from Bellevue to Sun Valley along an old railroad grade. The exclusive Valley Club, a member-owned golf and tennis club, neighbors the property to the northeast.
The Idaho Department of Lands owns 93 acres of farmland to the east. A neighborhood of large-lot single-family homes lie to the west on the other side of SR-75.Peregrine Ranch has water rights, both to Wood River water via the Hiawatha Canal and from groundwater. The area lies within the impact zone for the City of Hailey.
“Since we listed the property, we’ve had a lot of interested people, both from within Idaho and from nationally-prominent developers outside of the state,” Starr remarked. Given the prominence of the property, the Idaho Business Review will be tracking this story through its sale and ultimate development.