Court Ordered Sale DISTRICT LOT 4501 WESTSIDE ROAD 279 ACRES, LAKE OKANAGAN WATERFRONT Central Okanagan Regional District ASKING PRICE 2,950,000 For more information please contact: Brian Tattrie Vice President 604.714.4783 brian.tattrie@macrealty.com David Jerome Macdonald Realty Kelowna 250.862.1888 davidjerome@gmail.com Macdonald Commercial Real Estate Services Ltd. 1827 West 5 th Avenue, Vancouver, BC V6J 1P5 T 604.736.5611 F 604.736.7976 www.macdonaldcommercial.com Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice.
Artist Rendering Area Description District Lot 4501 Westside Road is a 279 acre waterfront residential/recreational property situated along the west shores of Okanagan Lake in the Okanagan Valley of southern British Columbia, between the cities of Kelowna and Vernon. The property was approved and zoned for a 43 lot waterfront residential development adjacent to a large dedicated park, however the project fell into financial difficulty and is now the subject of a Court Ordered Sale. Regional Description The dry warm summers, low humidity and relatively mild winters provide an enviable lifestyle for residents and makes the Okanagan Valley an attractive destination for tourists and retirees as well as a popular location for a wide range of businesses. Nearby Kelowna, with a population of approximately 180,000, is the business and economic centre for the Okanagan Valley and the largest trading centre between Greater Vancouver and Alberta. It is the third largest metropolitan area in the province, and one of Canada s fastest growing cities. Kelowna is home to the University of British Columbia s Okanagan Campus, the Interior Heart & Surgical Centre, an international airport, a burgeoning research and high tech sector, and many award winning wineries. North of the property, Vernon is the second largest city in the Valley, with a population of approximately 60,000 residing in its metropolitan region. The diverse landscapes and topography offer an abundance of rich agricultural land with over 200 wineries, forested hillsides with miles of hiking and biking trails, and nearly 295 hectares (7,300 acres) of clean sandy beaches. Its mountain peaks include 5 distinct ski hills and outstanding powder skiing.
Location The property is on the west side of Okanagan Lake, approximately 18 miles north of West Kelowna in a historic settlement and trading area generally referred to as Fintry. Legal and physical access to the property is provided by Westside Road. Property Description Situated along the west side of Okanagan Lake, DL 4501 Westside Road is a 279 acre waterfront property with almost a full mile of lakefront. The property is between the cities of Kelowna and Vernon, approximately 18 miles north of West Kelowna in the historic settlement and trading area of Fintry, just south of La Casa Lakeside Cottage Resort. With almost a full mile of lakefront and back to the hills above, the parcel is roughly rectangular in shape with an area of approximately 27 acres between the lakefront and Westside Road with the remainder being upland. The lake frontage is irregular in shape and comprises approximately 5,249 feet, interrupted near its midpoint by a 4.4 acre property with approximately 507 feet of lakefront. The lake water is clean, clear and ideal for swimming and water sports. The topography is varied, ranging from undulating forested slopes and grassy bench land overlooking Okanagan Lake to steep hillsides and Quilpituk Creek ravine. From the park, miles of trails provide recreational opportunities for hikers and mountain bikers with access to the Terrace Mountain Trails at a higher elevation. The hills, vineyards and orchards on the east side of the Lake are part of the beautiful and unobstructed 180 degree lake and mountain views provided along the entire length of the property. Site Plan Showing Park & Conservation/Covenant Areas
Civic Address DL 4501 WESTSIDE ROAD, RDCO Site Area 278.9 Acres Previously Approved 43 Waterfront Lots Zoning R-1, Single Detached Housing P-1, Park and Open Space Offering The property is offered on an as is, where is basis and offers must be in an approved offer and subject to Court Approval. Offers may include a short due diligence period prior to presentation to the Court. Asking Price $2,950,000.00 Legal Description District Lot 4501 Osoyoos Division Yale District Plans B1329 and 36131 PID 006-497-365 Encumbrances The following non-financial charges are registered on title: For more information please contact: Brian Tattrie Vice President 604.714.4783 brian.tattrie@macrealty.com David Jerome Macdonald Realty Kelowna 250.862.1888 davidjerome@gmail.com CA2219468; a covenant restricting the number of residential lots to 43. CA2219466; a conservation covenant. CA2219464; a covenant for protection of a registered archaeological site. CA2266460; a Section 219 covenant requiring Letters of Credit in favour of RDCO for contribution to road improvements, fire protection, park construction and completion of environmental studies under the Conservation Covenant.