HM Commercial Group is pleased to have been involved in the disposition of another historic site in Kelowna. The former BC Tree Fruits office building in Downtown Kelowna has officially sold after being on the market for just over 2 months.
The 0.275 acre property sold for $7.514 million (44% over the asking price of $5.2 million).
Six formal offers were made for the property, three of which were over asking price.
The building has been vacant since BC Tree Fruits relocated it’s head office to a separate building.
The new owner is expected to look for a new tenant for the 13,600 square foot building while it decides how to proceed with redevelopment plans. At the present time, there are no immediate plans for the property.
The city’s Official Community Plan supports up to 19 storeys on the site.