A swath of land larger than the main campus of the University of Texas at Austin is up for sale along Lake Travis — and it’s next door to Willie Nelson’s ranch.
At 632 acres, the property is easily among the biggest parcels of land available for sale in Central Texas. To give you a sense of the enormity of the tract, the main UT campus only encompasses 430 acres.
The property features about 3,300 feet of cliffs facing Lake Travis, as well as rolling hills, mature trees, and a private cove. The only structures on the tract are a bunkhouse, two docks, and a boat ramp.
Aside from spectacular Hill Country views, the new owner would gain the privilege of being the next-door neighbor of country music icon Willie Nelson. Nelson’s 700-acre Luck Ranch is directly across the road.
“The property has high potential as a residential or resort development,” Elmore tells CultureMap, “but the buyer could be another high-net worth individual who wants a ranch on the lake and appreciates the long-term value of the property.”
The 632-acre site, one of the largest tracts of land on the south side of Lake Travis, is owned by the family of well-known Houston real estate developer Ned Holmes. Although there’s no price tag on the property, Brad Elmore, senior vice president of NewQuest Properties in Houston, says the largely undeveloped tract could fetch $30 million or more. Elmore and NewQuest colleague Dave Ramsey have the listing.
The Holmes family purchased the land in the 1970s. Ned Holmes founded Houston-based Commercial Bancshares, which merged with Houston’s Prosperity Bancshares in 2001. He chaired the Prosperity board from 2001 to 2006. Holmes also is former chairman of the Port of Houston Authority and the Greater Houston Partnership, and a former member of the Texas Parks and Wildlife Commission and Texas Transportation Commission.
The Lake Travis property, near Bee Creek Road and State Highway 71, sits between the Briarcliff subdivision and Covert Ranch. Lago Vista and Lakewood Estates are situated north of the tract.