The Town of Qualicum Beach plans to sell more than $5 million in town-owned real estate in the next two years to pay for recent land purchases, including St. Andrews Lodge, according to a news release.
The town announced on July 5 that it had an agreement to purchase the historic St. Andrews Lodge waterfront property for $3.4 million, with a park planned for the land.
In that news release, the town said it would be selling “town-owned lands of lesser community significance” to finance the purchase.
On July 9, the town announced its plans to sell more than $5 million in real estate, financing the St. Andrews purchase and others.
In the July 9 news release, the town notes that 100 per cent of the proceeds from the sales “will be used to finance recent real estate acquisitions,” including St. Andrews Lodge, 2919 Island Highway (purchased this June for $608,300), 865 Ravensbourne Lane (purchased in 2015 for $490,000), the Old Bus Garage site (purchased in 2011 for $1,537,00) and the Berwick Well field (located behind fire hall, purchased in 2012 for $1,495,020).
The town also notes some of the properties it intends to sell. Those include two residential lots at 478 Timberlane Pl. (land only), two lots on 665 Dogwood Rd. (land only), a house on 324 Chester Road (site to be subdivided into two parcels, and town to sell the parcel with the house), and 504 Juniper Dr. (land only).
Though the town has identified other properties it could sell, it won’t be disclosing those. That’s at least in part because the town does not know what each property will sell for, and so does not look to divulge the rest of its list if those properties do not in fact need to be sold, said Heather Svensen, the town’s corporate administrator.
The town has also put out a request for proposals from real estate professionals “that wish to list a portfolio of town-owned assets.”
The deadline for proposal submission is Thursday, July 26 at 4 p.m. Those interested can contact Svensen at 250-738-2207, or by email via firstname.lastname@example.org.
Of the planned sales, Mayor Teunis Westbroek said in the news release, “By selling various town-owned lots, the town will finance over $5,000,000 in strategic investments, without impacting our local taxpayers.”