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10,910 Acre Canadian Real Estate Portfolio - 3.4% ROI
10,910 Acre Canadian Real Estate Portfolio - 3.4% ROI
First time offering of a 108-title revenue-producing real estate portfolio of commercial, industrial, agricultural, timber, natural resource, residential and development lands acquired over two generations of family ownership.
  • Size: 10,910 acres ~ 108 titles
  • Price: $82,000,000
  • Listing Agent: Jason Zroback - jason@landquest.com
  • Phone Number: 1-604-414-5577

  • Listing Agent: Jamie Zroback - jamie@landquest.com
  • Phone Number: 1-604-483-1605
Description :


LandQuest® Realty Corporation is pleased and excited to present the first time offering of a diverse commercial, industrial, agricultural and resource real estate portfolio that has been assembled by two generations of private family ownership over a 60-year period.

Totaling 10,910 acres of fee simple land in 108 titles, these properties are comprised of revenue-producing commercial and agricultural properties, strategic residential development sites, industrial, timber and resource land.

The revenue-producing properties make up a small percentage of the portfolio, but in 2015 they provided a 3.46% ROI per annum on the entire portfolio, making this offering truly exceptional.

The entire portfolio is offered for sale only as a single offering and on an "as is where is" basis. It is priced to provide significant upside for the buyer as the values of each of the component pieces are realized.


  • 10,910 acres in 108 separate fee simple titles of land sold as a single offering.
  • 115,000± ft2 of revenue-producing commercial lease space.
  • In 2015 the revenue-producing properties generated 3.46% ROI per annum based on the asking price of the entire portfolio.
  • 8,850 acres in 102 fee simple titles in British Columbia from the Courtenay to Campbell River area, including Denman, Quadra, Cortes and Read Islands.
  • 2,060.6 acres in 6 fee simple titles, including 174 acres in mature cranberry farm production with secure water rights. It is the largest cranberry farm in Oregon and it is 100% contracted to Ocean Spray.
  • Shares of a British Columbia incorporated company that owns and operates a 4,000 ft2 liquor store and a 5,500 ft2 brew pub and family restaurant. The company is a private Licensee Retail Store (LRS) for the sale of beer, wine and spirits. The brew pub and family restaurant have Liquor Primary, Food Primary and Brewing Licences.
  • Most of the timber resource was harvested over the past 60 years; much was replanted and is a maturing forest in various stages of regrowth. The remainder is natural regeneration, all adding value as it grows.
  • Significant volume of merchantable timber on some of the development sites that can be logged when development is in progress.
  • Gravel resource produces current cash flow on a small scale with potential for increased revenue from greater production.


Campbell River - Vancouver Island, BC
41 Acres in 5 Titles

The Campbell River properties total 41 acres in 5 titles and include 115,000± ft2of improved commercial and industrial lease space. These are among the most important assets of the portfolio. The properties include Merecroft Village Shopping Centre. Some of the tenants include Merecroft Village Pub/Restaurant and Liquor Store, Quality Foods, Petro Canada, A&W, Tim Hortons and Landmark Cinemas 5. The Brick is a tenant in a stand-alone building at the corner of North Island Highway and Park Avenue.

Merecroft Village

  • 87,515 ft2 of improved commercial lease space within Merecroft Village Shopping Centre.
  • 19,790 ft2 building leased to The Brick and 8,025 ft2 building leased to a local welding fabricator.
  • 29± acre former mill site ready for commercial or residential redevelopment.

Campbell River has a population base of approximately 36,000 and its steady growth is spurred by the success of the Comox International Airport. Daily direct flights from Calgary, Vancouver and Edmonton make this Vancouver Island Region a super-attractive and easy place to live and play. Campbell River also has its own airport and multiple seaplane and helicopter facilities.

The $600,000,000 North Island Hospital project was completed late 2017 and it includes new hospitals in both Campbell River and Courtenay.

BC Hydro’s $1,093,000,000 John Hart generating station replacement project, which will ensure a reliable power source to Vancouver Island, is projected to be completed in 2018/2019.


Block 71/DL 185 Comox Valley - Vancouver Island, BC
Courtenay, BC - 884 Acres in 2 Titles

This 884 acre contiguous site, possibly the most strategic development land in the City of Courtenay/Comox Valley, is destined to be a major development site in this dynamic region.

Very close to the Crown Isle Golf Course development, large box retailers, new hospital and North Island College, the site is ready for a developer with a comprehensive development plan.

Block 71 Looking Northwest

The Comox Valley, with a current population estimated at 65,000 and growing, is one of the fastest growing communities on Vancouver Island, with superb quality of life.

In recent years growth has been largely due to the development of Comox International Airport with Air Canada, West Jet and Pacific Coastal Airlines offering daily flights from Vancouver, Calgary and Edmonton and an extensive network of destinations to over 5 continents. Easy access from Alberta has made the area a very popular destination for Albertans looking for recreational and residential properties.

Mount Washington Ski Hill is under new ownership and will be a major attraction for the region.

The growth of the area is assured with large box retailers including Costco, Home Depot, Walmart, Canadian Tire and Real Canadian Super Store already in place.


Cranberry Farms - Oregon, USA
2,060 Acres in 6 Titles

174 acres are developed cranberry bogs planted with Stevens and Pilgrim Vines, 321 acres are support lands with several pump houses, 5 acre home site with a single family dwelling/office and farm utility structures. Improvements include a 5,600 ft2 shop/equipment building, 5,200 ft2 storage building and 1,876 ft2 manufactured home/office. The remaining 1,560 acres is timbered with some merchantable timber.

Cranberry Bogs

This is the largest producing cranberry farm in Oregon for Ocean Spray. The farm has a good location with easy access to Highway 101 in the South Coast region. The farm has 39.68 acres of mature Pilgrim Vines, 7.16 acres of immature Pilgrim Vines and 127.46 acres of mature Stevens Vines. These cranberry farms are in the “A” pool side of Ocean Spray which provides a solid market and financial stability.

All equipment and infrastructure needed for growing cranberries is in place. The irrigation is fully automated; frost sensors automatically turn sprinklers on to protect the berries from frost.

Important perfected legal water and irrigation rights totaling 730 acre-feet under 10 separate permits are in place.

There is a regional airport adjacent to the farm and it is also very close to Bandon Dunes (five different courses) ranked the top golf resort in the United States.


Black Creek - Vancouver Island, BC
2,014 Acres in 11 Titles

The Black Creek properties total 2,014 acres in 11 titles ranging in size from 1.74 acres to 631 acres. These properties have potential for long-term real estate development into small rural acreage lots, larger farms or they can be left to grow timber. A large portion of the land is within the Agricultural Land Reserve (ALR) but there is a sizeable portion that is not. Current subdivision requirements of rural ALR land within the Comox Valley Regional District require a 19.8 acre minimum average parcel size.

Looking Northwest

  • 11 contiguous titles of land.
  • Surrounding area has a current population of 8,325 residents.
  • Local amenities include a race course, golf course and marina.
  • Close proximity to Courtenay, Campbell River and Mt. Washington Ski Resort.

Black Creek is located near the base of Mount Washington Ski Resort only 21 km from Courtenay and 33 km from Campbell River. Black Creek is an increasingly popular region for country living with close proximity to the city center of Courtenay/Comox. The area has a large agricultural base and is home to large working farms and smaller hobby farm acreages. Saratoga/Miracle Beach is a small community that provides services and mixed housing options to the immediate area. These properties are adjacent to Miracle Beach Provincial Park.


Oyster River - Vancouver Island, BC
2,986 Acres in 12 Titles

These lands are within the Strathcona Regional District and the titles range in size from 37.80 acres to 1,660 acres. Approximately 2,352 acres have a RU-1 zoning designation, which generally permits smaller property sizes. Portions of these properties are within the ALR. 633 acres are out of the ALR and have a RU-20 zoning. These properties have significant river frontage on the Oyster River along with vast surrounding acreage.

Looking North

  • Extensive river frontage.
  • Large strategic land holding only 20-25 minutes from either Courtenay or Campbell River.
  • Easily accessible from the Inland Island Highway and within close proximity to Mt Washington Ski Resort and Strathcona Park.

The Oyster River area is in a strategic rural location in-between Courtenay and Campbell River. The Oyster River area is home to the rural communities of Saratoga and Miracle Beach and within close proximity to Strathcona Park and Mt Washington Ski Resort.

With the anticipated future population growth of Courtenay and Campbell River, this large land holding will benefit from the impact as Oyster River is only a 20-25 minute drive to either town from the Inland Island Highway and offers the potential for rural living on larger acreages.


Royston - Vancouver Island, BC
372 Acres in 17 titles

The Royston group of properties includes 17 titles totaling 372 acres; five of the titles totaling 80± acres are within the City of Courtenay, while the remainder is in the Comox Valley Regional District.

  • Properties within the City of Courtenay and the Comox Valley Regional District.
  • Will benefit from the expansion of the City of Courtenay.

Looking North

Royston is a small seaside rural community which is part of the greater Comox Valley region. It is situated next to the Trent River, across the harbour from Comox and just southeast of the municipal boundary of Courtenay. Royston is home to just over 1,200 people.


Quadra Island, BC
430 Acres in 18 titles

The Quadra properties are comprised of 16 upland parcels ranging from 4.99 acres to 12± acres and two larger parcels of 118 acres and 153 acres. RU zoning provides that the two properties less than 10 acres are allowed one home per property and the 14 in the 10-12 acre range are permitted two homes per property. Just a few minutes from the ferry landing with good road access, these properties would be highly marketable in today’s market. The two larger acreages have development potential.

Looking Southwest

  • Excellent location on the Island, in close proximity to services.
  • 10 acre lots zoned for two dwellings on properties over 9.88 acres.
  • Development Potential for the 153 and 118 acre parcels.

Quadra Island, only 10 minutes by ferry from Campbell River, is the largest and most populated of the Discovery Islands with 4,000 permanent residents. It is a popular tourist destination offering world-class fishing, hiking, diving and kayaking, and is a popular moorage site for boaters.


Cortes Island, BC
201 Acres in 7 Titles

201 acres in seven titles: one parcel is 114 acres and the remaining six parcels range from 9.91 acres to 34.35 acres and are ready for re-sale. There may be potential for further subdivision.

  • Great real estate near Gorge Harbour.
  • Within the Strathcona Regional District.

Cortes Island (population 1,000±) has ferry service via Quadra Island and Campbell River. Gorge Harbour is an increasingly popular destination for boaters with a first-class marina with swimming pool, general store, restaurant and fuel sales.

Looking Southwest over
Gorge Harbour

Cortes Island (population 1,000±) has ferry service via Quadra Island and Campbell River. Gorge Harbour is an increasingly popular destination for boaters with a first-class marina with swimming pool, general store, restaurant and fuel sales.


Read Island, BC
1,475 Acres in 22 Titles

The 1,475 acres contained within 22 titles on Read Island include: 12 properties that are 10± acres with four being waterfront; 10 properties ranging from 30 to 160 acres of which three are waterfront; and one large 310 acre waterfront property.

The larger acreages are excellent oceanfront properties on Evans Bay, Bird Cove and Surge Narrows. The 310 acre property fronting White Rock Pass has good marketability to be resold or further developed.

Twin Bay
Looking West

The remaining upland properties are probably best held for forestry use; however, the sale of these can be achieved or incorporated into the waterfront development.

The 11 parcels of 10± acres at Twin Bay include five oceanfront and six upland residential or recreational properties that could be offered for sale immediately.

Most of the land is zoned F1 Forestry. Under the current zoning, one single family dwelling and accessory buildings are permitted per property. Subdivision is permitted into minimum parcel sizes of 40 acres. If some or all of the properties were rezoned to RU1 this would allow for 9.88 acre minimum parcel sizes and allow for two single family dwellings per property.

  • 22 fee simple properties.
  • Within the Strathcona Regional District.
  • Oceanfront properties in Surge Narrows and Twin Bay.

Read Island, despite having a population of only 50± permanent residents, has a government dock, post office, general store, coffee shops, school, accommodation, community hall and various farms that provide local produce. This island is popular for seasonal vacation properties with excellent salmon fishing, boating, kayaking and the off-grid lifestyle.


Browns River - Vancouver Island, BC
371 Acres in 6 Titles

These six properties located west of Courtenay are forestry and resource extraction properties with gravel being removed on low volume basis providing cash flow. There is a significant volume of gravel value to be realized and these properties may have long-term development potential. They are within the Comox Valley Regional District and are zoned Upland Resource (UR).

  • Cash flow from gravel currently being extracted.
  • Gravel resource available for development.
  • Browns River is located west of Courtenay and west of the Inland Island Highway.

Looking Southwest


Denman Island - Vancouver Island, BC
79 Acres in 2 Titles

These two adjacent 39 acre properties fronting on Pickles Road on Denman Island are zoned resource land. Islands Trust zoning bylaws allow one residence on properties larger than 15 acres. Additional permitted uses include agriculture, horticulture, forest fungi production and forestry.

  • Two contiguous parcels of land with road access.
  • Current zoning allows for one residential home per title.

Denman Island

Denman Island has about 1,000 year-round residents and is home to three provincial parks. Further expansion of the parks is included in the “Denman Island parks and greenways master plan.” The Buckley Bay Denman Island Cable Ferry opened in 2016 increasing accessibility to the island. Recent improvements near the community docks included restaurants, local attractions and accommodations.

Vegetation :

Timber and Gravel Resources
There is a significant amount of mature merchantable timber within this portfolio. In addition, many of the properties that have had timber harvested in the past were replanted and are in various stages of regeneration. There is a considerable amount of immature regeneration that is approximately 25-40 years old that will be ready to harvest in the years to come.

There are properties within the portfolio that have been identified to have gravel resources. These resources are largely unexplored. Currently, there are two areas that are leased to gravel pit operations. One is a small operation in Oyster River and the other is a larger operation at Browns River.

It is the buyer’s responsibility to determine the quantity and quality of both timber and gravel resources.

Taxes : Contact Listing Broker
Boundaries : Please see the mapping section - all boundaries are approximate.  Additional mapping, photos and zoining maps available - please contact Listing Broker
Listing # : 17145