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Surrey 0.8-acre land assembly sells for nearly five times assessment

Five-lots assembled in Guildford area with potential for high-density residential development sold for $12 million.
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Re/Max 2000 Realty, Surrey, B.C., for Western Investor. (Image shows future development potential)

Property type: Land assembly

Location: 14076,14066,14056,14046 and 14036 103A Avenue, Surrey, B.C.

Number of lots: 5

Land size: 39,175 square feet

Land size in acres: 0.899 acres

Zoning: RF

Potential: Multi-family development of 2.5 to 3 FSR (floor space ratio), under OCP.

BC Assessment value: $4.53 million

Sale price: $12 million

Date of sale: November 11, 2021

Brokerage: Re/Max 2000 Realty, Surrey, B.C.

Broker: Sonia Khari