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for sale

The 11-bedroom house and its property was listed last fall for $7-million, down from $9.5-million when it was put up for sale in 2010. It has been on and off the market since then.The Canadian Press/Handout-Jarrell Whisken/The Canadian Press

A U.S. family's striking 57-acre private Nova Scotia island remains unsold, eight years after it went on the market and despite a $2.5-million price drop.

Now, realtor Mariana Cowan is suggesting alternate uses for Kaulbach Island, which has an 11,000-square-foot main house and encircling sandy beaches that overlook the province's picturesque Mahone Bay.

"This place is really quite remarkable," says Ms. Cowan. "It would make a great resort, a corporate retreat base or a lovely secondary home."

The main house – built by the current owners roughly 12 years ago and dubbed the Osprey Nest – features 11 bedrooms, nine bathrooms and 10 fireplaces, and is a short five-minute boat ride from the mainland.

The property includes staff living quarters above a double-car garage, a nearby two-level farm house, and a seaside beach house that was built in 2002 — all minutes away from a golf course and sailing club.

Ms. Cowan listed the property last fall for $7-million, down from $9.5-million when it was first listed in 2010. It has been on and off the market since then.

She says she's been looking south of the border and to Europe for the island's next owners.

"The buyer for this property will likely be someone who likes privacy and who appreciates quality," says Ms. Cowan, adding her company is speaking with two parties interested in buying the property.

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