$11.5 million for Lake Country shopping mall

The Lakewood Mall Shopping centre in Lake Country is for sale.

“A shopping centre of this size with this much exposure rarely gets listed in the Okanagan, which is why we are so excited to present this opportunity,” Chris Wills, director of sales and leasing at Venture Commercial, which has the listing, said in a news release.

The mall sits on close to three acres at 11852 Highway 97 at the north end of Lake County. The asking price is $11.5 million.

“As we continue to see Lake Country grow, this property presents potential for significant rental income growth and future redevelopment opportunities,” Jason Wills, partner of sales and leasing for Venture Commercial, said in the news release.

Dollarama opened in a 10,300 square foot space in the mall in December. The mall also has a Tim Hortons, Grillers Meats and 15 other stores.

“This unique property was once home to a five-lane bowling alley, which remains intact in the lower level of Lakewood Mall,” the news release says.

B.C. Assessments says the mall has 48,213 square feet of leasable space and valued it at $5.5 million as of July 1, 2022.

The listing can be viewed here.

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