Vacant Building Across from Town Centre Mall Kelowna

[forumdoug]

Yeah helps pay the 30 K plus in taxes you would be paying.
The old Gordons Super Valu, had a large parking lot, between it and Bernard, the store stared past the alley.
Evenings, kids would be doing mainers, and theturn around and hangout place was the SV parking lot...got a pic somewhere of me on my 750 there in 76 or 77.

Their parking lot is not city-owned, though, no? Are you sure it's not been privately managed by Impark or Diamond Parking to generate some modest property income from the vacant property for its current owner?

[forumdoug]

There are 4 lots in the current listing package (560, 590, 594 Bernard and 1471 St. Paul Street). According to BC Assessment, none of those lots have changed hands in the past 3 years.

560 Bernard assessed at $3,021,000 https://evaluebc.bcassessment.ca/Proper ... BBOFFSWA==
590 Bernard assessed at $569,000 https://evaluebc.bcassessment.ca/Proper ... BBOE1WRA==
594 Bernard assessed at $692,000 https://evaluebc.bcassessment.ca/Proper ... BBOE1WQw==
1471 St. Paul assessed at $2,102,800 https://evaluebc.bcassessment.ca/Proper ... BBOE0wSw==

Hombre, total assessed value comes to almost 6.4 million. Asking 9.4 million doesn't seem too unreasonable. Actually getting 9.4 may be tough though.

Listing: http://www.hmcommercial.com/files/57c85 ... b0b5a5.pdf

I question BC Assessment's "sales history" accuracy, though. I know for a fact, as reported on Castanet and others, that last year the property changed hands (unless the sale fell through and Castanet never reported on that, which wouldn't surprise me at all!) to a then-unnamed buyer. My thinking is this is the 2nd sale. Notice that this proposed sale includes development plans for a high rise development so perhaps that indicates the current owner had plans drawn up but has decided not to proceed and so is including those plans as part of the sale, should any future buyer want to proceed with them?

Cheers,
Doug

[forumdoug]

FYI: current owner (as of today's, or yesterday's, date, whenever the LTSA database is updated) of the captioned properties is "Shanri Investment Ltd," though there may be other owner(s) on the properties as only the "first owner on title" can be displayed with the "free access" to the Land Title and Survey Authority of B.C. database. Anyone know who the property's owner was in early 2016 or early 2015? That would tell us if the prior announced sale went through or not. Unfortunately, "title history" also requires a paid title search. ;)

Update: A Google search attributes Shanri Investment Ltd to being, presumably, a B.C.-based subsidiary of Shanri Holdings Corp, which is a corporation incorporated in the Commonwealth of the State of Virginia (see: https://sccefile.scc.virginia.gov/F1052739/AnnualReport). Both have the same registered head office address in Victoria, BC and that Virginia corporate filing as well as Bloomberg & Hoover's databases attribute (both) corporations' directors, and presumably shareholders, as being Richard Berlin, Sheila Berlin and Alton Brown III. I can't find anything on what other properties they may own. Anyone heard of them?

Cheers,
Doug

[Fancy]

It has been in the family for decades according to another site.
http://www.theprovince.com/news/local+n ... story.html

[forumdoug]

It has been in the family for decades according to another site.

That's what I was "gathering," based on the fact the corporation was incorporated in 1976 or 1977, in line with then the building was built, I'm guessing maybe the previous sale fell through? ;)

Cheers,
Doug

[60-YEARS-in-Ktown]

The building was built around 70-71 just going by memory.
The proposed building on it , I believe was based on the big building parcel, then the two lots on the east end were added, that changes the viability of going ahead with such a project.. Having the whole block...plus the parking lot behind it... Is a great piece of property.

[Atomoa]

Mr. Mikes was just up from Woolworth's at the corner of Bertram, and is now a vacant parking lot.

Saddest thing I've read all day.

I had no idea there was a Mr Mikes here. I used to drive out of my way to Duncan on the Island just have a dinner there. Guilty pleasure.

[60-YEARS-in-Ktown]

I think it was the old Barr and Anderson store.
Later it moved to Lawrence, near the corner of Bertram and Lawrence .

[GordonH]

Mr. Mikes was just up from Woolworth's at the corner of Bertram, and is now a vacant parking lot.

Saddest thing I've read all day.

I had no idea there was a Mr Mikes here. I used to drive out of my way to Duncan on the Island just have a dinner there. Guilty pleasure.

Closes Mr Mikes to Kelowna is in Kamloops on the corner Columbia St West & Summit Dr, about 2 hours away +/-

Added: as teenager with my D/L I'd find myself at Mr Mikes in Salmon Arm or Vernon, depending which was closer.