More than $13M worth of prime Kelowna real estate hits the market

Three prime pieces of Kelowna real estate have come on the market, including the Dilworth Inn, the Recreation Inn, and another mixed-use development on Harvey Avenue.

The 50-room Dilworth Inn sits on the corner of Dilworth Avenue and Enterprise Way, opposite Orchard Park Shopping Centre and is part of a court-ordered portfolio sale that also includes two other prime highway-oriented real estate sites.

“Situated along Harvey Avenue… within Kelowna’s designated growth corridor, the assets present investors with a compelling blend of stable in-place income and significant redevelopment potential in one of Kelowna’s most active and evolving districts,” a real estate ad from William Wright Commercial says.

The sales are part of the court-ordered liquidation of Witmar Holdings Ltd, a Kelowna company started by Wille and Maria Weisstock and left to their four children.

The children didn’t see eye-to-eye and have been embroiled in a lengthy legal fight over the future of the $65-million real estate and development company their parents left to them.

The Dilworth Inn site is pitched as being a “compelling blend of stable in-place income and significant redevelopment potential.” 

“Situated on (a) generously sized parcel, the property is well-suited for higher-density redevelopment, with future value creation extending well beyond current operational returns,” the realtor’s sales brochure says.

There is no price listed for either of the properties, but BC Assessment puts the Dilworth Inn site at $5,850,000, the Recreation Inn at $4.8 million, and the Harvey Avenue site at $2.7 million.

Find the realtor’s ad here.