Black Mountain Estates sold
Photo: Colliers International
Much of the arable land on the Kelowna city limits in Black Mountain has changed hands.
While that was just announced this week, the transaction, comprising more than 1,500 acres on 11 properties north of Highway 33, closed in mid-2020, according to listing agent Mark Lester, senior vice president of unique properties at Colliers International.
“It was an owner and that owner had owned the property for many years,” Lester said.
The transaction is one of the largest in Okanagan in recent years, with acreage of this size rarely coming onto the market. The properties were offered for sale for $ 18 million, but the purchase price was not disclosed.
“The property features rolling hills and gentle topography and provides excellent grazing land for livestock. Black Mountain, one of the largest mountains in the region, forms an outstanding backdrop for the property, offering south-facing slopes and breathtaking views of the lake and mountains . ” reads the listing for the site.
Most of the property is on the farmland reserve and buyer Scott Marshall tells Castanet that the buyer plans to use the property for agriculture.
“The buyers will be farming it, they have no intention of doing any further residential work on it,” said Marshall, unable to provide details.
“There are plans with the province to use it for agriculture.”
Photo: Colliers International
