A 25.53-acre property with development potential has sold for $2.85 million, Colliers International Nanaimo tells Western Investor.
The estate property currently houses a 1900s home, which can be incorporated into future redevelopment. The property is designated in the District of North Cowichan’s OCP as growth centre, within a highly sought-after residential market. The site has residential rural and rural restricted split zoning. The uses permitted by the site’s zoning included but are not limited to: agriculture, assisted living, bed and breakfast, community care facility, home-based business and modular home.
The property is located at 1580 Maple Bay Rd., midway between Duncan and the seaside town of Maple Bay.
Breakdown:
Price: $2,850,000
Lot Size: 25.53 acres
Property Type: Land
Zoning: R1/A3
2016 B.C. Assessment Value: $445,373
Date of Sale: 10/30/2017
City: Duncan
Province: B.C.
Name of Brokerage: Colliers International Nanaimo
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