One of Sooke's largest undeveloped parcels of land in the town's central core has been sold for approximately $4 million, Citified has learned.
Known as the Notts Brook property with frontage onto Otter Point Road between Grant Road West and just shy of Beaton Road (across from the Sooke fire and municipal halls), the 20.2-acre development site received municipal approvals for a 127-lot single-family and duplex subdivision several years ago and was placed on the market shortly thereafter.
The Victoria office of Colliers International brokered the sale with a listing price of $4.2 million. The identity of the purchaser was not disclosed by the brokerage in time for the publishing deadline of this article.
Build-out of the Notts Brook site, officially designated as 2100 Otter Point Road and 6776-6778 Grant Road West, is likely to proceed in a phased fashion while Notts Brook which runs through the middle of the property will be maintained as a core natural feature of the subdivision.
Coinciding with development efforts, Otter Point Road will be re-aligned along the mid portion of the subdivision to straighten out the S-curve adjacent to the fitness gym property to the south of Sooke's municipal hall. Additional improvements will streamline access to and from Otter Point Road via Grant Road West.
Sooke's town centre has recently been the focus of several major land purchases and development efforts.
Earlier this year Vancouver-based Aragon Properties unveiled plans for a 133-lot subdivision along Wadams Way at Church Road just a stone's throw from the Notts Brook property. The developer is currently pursuing municipal approvals for what is expected to materialize as a single-family and townhome community.
Across Wadams Way from the Aragon Property the Knox Presbyterian Church is in the final stages of constructing an affordable housing project that will deliver 42 apartments next year. And further west along Wadams Way a new Sooke library is expected to get underway in 2019 with completion in 2020.
Near the town centre at the end of Maple Avenue South Fitzpatrick Enterprises is in the pre-sale stage for The Residences on Sooke Harbour, a 27-unit up-market condominium slated for an oceanfront parcel overlooking Sooke Harbour and the Salish Sea. Sales at the project are on-going with construction slated for a mid-2019 start.
Meanwhile Evergreen Centre, Sooke's largest retail complex (situated along the 6600-block of Sooke Road and to the south of Wadams Way) recently sold to an Ontario-based organization which plans to grow the strip mall's offerings to include new restaurant and retail spaces. C
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