A riverfront estate previously owned by former heads of a Richmond Fortune 500 company and downtown ad giant The Martin Agency is remaining in local hands after a multimillion-dollar sale.
The Oaklea estate at 330 Flag Station Road sold Wednesday for just over $2.82 million. The purchase includes the 6,700-square-foot main house and 32 of the nearly 35 acres that were listed for sale last August, with a roughly 2-acre buildable lot still available.
Anne Chewning with The Steele Group | Sotheby’s International Realty had the listing, representing sellers John Luke Jr. and Kathleen Luke. John Luke is non-executive chairman of packaging company WestRock and was CEO of its Richmond-based predecessor MeadWestvaco.
The property was purchased through an entity called Duval Investment Properties LLC, according to the Goochland County Circuit Court Clerk’s office.
Chewning said the buyer is a local couple who beat out two other prospective buyers, one of whom was looking to relocate from out-of-town. She said a confidentiality agreement prevented her from saying more about the parties involved.
The mystery buyer was represented by Scott Ruth and Scott Shaheen of Shaheen, Ruth, Martin & Fonville Real Estate.
Ruth likewise cited a confidentiality agreement, discussing his clients only in terms of what drew them to the property.
“Proximity was a big component of it. The acreage, multiple ponds, and a country setting that’s close to the city were all factors in their decision,” Ruth said. “You just can’t find a property that large, with that level of outbuildings with the pool house, guest house, the main house, that close into the city. That was the draw.”
Originally listed at $3.67 million, the price was reduced in October to $3.39 million and went under contract in late November. The latest county assessment valued the four listed parcels at nearly $3.2 million combined.
Built in 1939, the main house was renovated while the Lukes owned it by Mark Franko Custom Building, which also designed a new guest house that replaced an older one that was torn down. A heated pool and pool house also were added.
The Georgian-style, brick-and-slate main house includes five bedrooms, 5½ bathrooms and three gas and wood-burning fireplaces. The house is equipped with “smart home” technology and a generator. Rear-side doors open up to create an indoor-outdoor space, and the house also includes a curved staircase and wine cellar.
The property includes four ponds, one with a fishing dock, and is situated on a hillside along the James River. The property is off River Road just west of Route 288.
The Lukes, who Chewning said are remaining in town, bought the estate from Ann and David Martin. David, who died in 2012, was a co-founder of The Martin Agency and later founded another ad firm, Hawley Martin Partners.
Oaklea is the latest multimillion-dollar sale along that stretch of River Road in Goochland. About a mile east, an 11,000-square-foot house at 445 Rivergate Drive sold last month for $2.1 million, making the list of the 10 highest-priced home sales of 2020.