The Sunny Beach Motel is one of three grouped together and for sale near Skaha Lake in Penticton.
Image Credit: Submitted/Colliers Canada
June 21, 2023 - 7:00 AM
Three motels that are only steps away from Skaha Lake Park and the beach in Penticton are on the market in a court-ordered sale.
Taken together, the Beachside Motel, Sunny Beach Motel and Waterfront Inn have 70 rooms in five buildings along Parkview Street.
“It’s a 10 out of 10 site,” Bill Randall, executive vice-president of Colliers Canada, who has the listing, told iNFOnews.ca. “It’s a beautiful site. You’re right across the street from the park and the beach.”
This map shows the location of the motels across from Skaha Lake Park.
Image Credit: Submitted/Colliers Canada
The motels could be sold separately but the preference is to sell them as a package. They have one owner.
As a court-ordered sale, they must be listed for a reasonable period of time and have reached that point since they’ve been on the market for more than 30 days.
The court will have to agree to any offers made but Randall expects them to sell.
Waterfront Inn
Image Credit: Submitted/Colliers Canada
The Sunny Beach Motel is the oldest, being built in 1953, according to BC Assessment. The Beachside Motel, which also has Gilligan’s Ice Cream Shop, was built in 1961. The Waterfront Inn is the newest, being built in 1965.
Together they are on 1.63 acres of land and the buildings include 37,000 square feet.
Beachside Motel.
Image Credit: Submitted/Colliers Canada
Because it’s a court-ordered sale, Randall did not want to talk about the price, other than to say he expects them to sell well over their assessed value.
Together BC Assessment valued them, as of July 2021, at $6.9 million with about $5 million of that being for the land.
READ MORE: $41.5 million deal likely biggest hotel sale in Kelowna’s history
Will a new owner keep them operating as they are?
“In the short term, the motels are very profitable,” Randall said. “My thinking would be that somebody would operate the motels for a significant period of time then, potentially, redevelopment. That would be a ways down the road."
See the full listing here.
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