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Comox residential development sold for double its value

A piece of land slated for construction of a mixed-use building has sold for over $1 million
comox land
The land has plans for construction of a five-storey condo building with a restaurant or pub.
 
Price: $1,075,000
Lot Size: 21,432 SFL
Property Type: Land
Zoning: CD20
2015 B.C. Assessment Value: $511,000
Date of Sale: 10/17/16
City: Comox
Province: B.C.
Name of Brokerage: Colliers International Nanaimo
 
A piece of land slated for construction of a mixed-use building has sold for over $1 million.
 
The property has approved development plans in place until July 27, 2017. The proposed development is a five-storey commercial and residential building, complete with 9,422 square feet of restaurant or pub space and 21 condos. The land sold for more than double its assessed value of $511,000. 
 
The site is located at 1770 Comox Ave. and features water, mountain and golf course views, in downtown Comox. 
 
 

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