An aerial view of the undeveloped industrial site in West Kelowna that recently sold for $10.25 million, according to the Western Investor.
Image Credit: SUBMITTED/Western Investor
September 14, 2018 - 11:46 AM
WEST KELOWNA - A 10-acre parcel of land described as one of the last large undeveloped industrial sites in West Kelowna has just sold, the Western Investor is reporting.
Perhaps reflecting the increasing scarcity of industrial land, the 10.33-acre parcel on Kyle Road sold Sept. 7 for $10.25 million, well over twice its 2018 assessed value of $4,532,000.
Listed at $10.33 million, the L-shaped parcel is also described by Western Investor as being just 10 minutes from downtown Kelowna.
Some of the neighbours might not be too happy. Houses along Emerald Way back onto the industrial site, which also fronts on a large wooded area.
TL1932 Holdings Ltd. sold the property in a deal brokered by NAI Commercial Okanagan to Denciti Acquisitions Corp.
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