BRO - Oceanfront Grand, Cowichan Bay

FOR S trait of G eorgia

To Victoria

Pavenham

Cow

icha

nB

SALE

Hig

hwa y1

To Nanaimo

Oceanfront Grand Resort & Marina Cowichan Bay, BC

Road

Prit c ha rd Roa d

ay R o

ad

C owichan B ay N

For further information, please contact:

Sam Nakhleh*

Hart Buck

604.661.0861 sam.nakhleh@colliers.com

604.662.2646 hart.buck@colliers.com

Available via the Court Ordered Conduct of Sale Process For further information, please contact: Sam Nakhleh* 604.661.0861 sam.nakhleh@colliers.com

Colliers International – Complete Commercial Real Estate Services Since 1898 200 Granville Street, 19th Floor,Vancouver, British Columbia, Canada V6C 2R6 Toll Free 1.866.681.2655 Telephone 604.681.4111 Fax 604.661.0849 This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. Colliers International is a worldwide affiliation of independently owned and operated companies. This publication is the copyrighted property of Colliers International and /or its licensor(s). Š 2010. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. * Personal Real Estate Corporation. PO # AP-042610

www.colliers.com/vancouver

Hart Buck 604.662.2646 hart.buck@colliers.com

View of Cowichan Bay

FOR

SALE Civic Address

hotel & marina

1681 Cowichan Bay Road, Cowichan Bay, BC

Legal Description

Strata Lots 1 – 63, Section 6, Range 4, Cowichan District, Strata Plan V1S1145 (PIDs 000-902-535 to 000-903-540)

Cowichan Bay, Vancouver Island

Strata Lots 6, 13, 14, 41, 42, 50, 63 and the water lot are common use areas (e.g. restaurant, liquor store, swimming pool, etc.).

Typical view from room

Site Size

1.03+/- acres (44,867 sq. ft.)

Site Description

Opportunity

Colliers' National Insolvency team is pleased to present this rare opportunity to acquire, via the Court Ordered Conduct of Sale process, an established 56 suite, full service hotel in the oceanfront tourist destination of Cowichan Bay on Vancouver Island. The offering is comprised of sixty-three strata titled units comprising 100% of the units.

The irregular-shaped site is moderately sloping toward the water from the southern side to the north and has 76 feet of frontage to Cowichan Bay Road as well as 209.4 feet of frontage to Botwood Lane. The property is oceanfront with walk-on-beach frontage of 395 feet.

Property Description

Gross Building Size

Located oceanfront on the north side of Cowichan Bay Road in Cowichan Bay on Vancouver Island, the subject property is improved with a 56 suite hotel known as the ‘Oceanfront Grand Resort and Marina’ and further incorporates a restaurant, marina dock (subject to renewal application of Lease with Ministry of Environment), Land and Parks , a liquor store and retail space. The property benefits from a picturesque surrounding providing water views of the marina, Cowichan Bay and beyond to the distant mountain range.

74,849+/- sq. ft.

Improvements: Typical room

Location

Cowichan Bay is a unique fishing village on Vancouver Island surrounded by many beautiful beaches, lakes and farms and conveniently positioned between the City of Victoria to the south and the City of Nanaimo to the north. Just 10 minutes drive off the Trans Canada Highway and only 30 minutes drive from both Victoria and Nanaimo, Cowichan Bay is easily accessible making it an ideal tourist destination.

Zoning

C4 (Tourist Recreational Commercial) - full zoning available upon request

The Cowichan Bay area offers a wide selection of year round tourist attractions, from exploring the wine country, to lake and ocean fishing, kayaking, hiking and golfing. Rich in history, this tourist community was started in the 1850’s as a Hudson Bay Company fort and offers many historic sites and galleries to visit. This area is increasingly infamous for some of the finest wineries and world class golf courses.

Rooftop view of Hotel

$709,805 (July 1, 2010 - June 30,2011)

Assessment (2010) Land: Improvements : Total

The amenities offered at Oceanfront Grand Resort & Marina include: • Lobby • Indoor swimming pool • Restaurant • Fitness room

• Boardwalk walkway • Liquor store

• Meeting rooms • Two saunas

$1,580,600 $762,800 $2,343,400

Taxes (2009) $48,218

3

*Please note - there is a Land Use Contract (LUC) registered on title and our discussions with the CVRD suggest that both the zoning and LUC are in effect relative to the permitted uses/zoning at the Property.

Proforma Net Operating Income

Hotel Amenities

• Jacuzzi spa

The Oceanfront Grand Resort was built in 1980 and was partially redecorated in 2005/2006. The property accommodates approximately 76 parking stalls; 46 of which are underground, 20 are open stalls and 10 are open stalls designated for the restaurant. The building was constructed with reinforced concrete/concrete block, jumbo brick and wood frame and the roof is flat torch-on and the exterior is mainly stucco with some concrete block and jumbo brick.

The 56 suites are comprised of 51 One bedroom and Five Two-bedroom suites. All units have a kitchenette and all suites have spectacular ocean views.

• Laundry room

Price Reduced Price

• Retail space Cowichan Bay Road

$7,300,000

$6,800,000

FOR

SALE Civic Address

hotel & marina

1681 Cowichan Bay Road, Cowichan Bay, BC

Legal Description

Strata Lots 1 – 63, Section 6, Range 4, Cowichan District, Strata Plan V1S1145 (PIDs 000-902-535 to 000-903-540)

Cowichan Bay, Vancouver Island

Strata Lots 6, 13, 14, 41, 42, 50, 63 and the water lot are common use areas (e.g. restaurant, liquor store, swimming pool, etc.).

Typical view from room

Site Size

1.03+/- acres (44,867 sq. ft.)

Site Description

Opportunity

Colliers' National Insolvency team is pleased to present this rare opportunity to acquire, via the Court Ordered Conduct of Sale process, an established 56 suite, full service hotel in the oceanfront tourist destination of Cowichan Bay on Vancouver Island. The offering is comprised of sixty-three strata titled units comprising 100% of the units.

The irregular-shaped site is moderately sloping toward the water from the southern side to the north and has 76 feet of frontage to Cowichan Bay Road as well as 209.4 feet of frontage to Botwood Lane. The property is oceanfront with walk-on-beach frontage of 395 feet.

Property Description

Gross Building Size

Located oceanfront on the north side of Cowichan Bay Road in Cowichan Bay on Vancouver Island, the subject property is improved with a 56 suite hotel known as the ‘Oceanfront Grand Resort and Marina’ and further incorporates a restaurant, marina dock (subject to renewal application of Lease with Ministry of Environment), Land and Parks , a liquor store and retail space. The property benefits from a picturesque surrounding providing water views of the marina, Cowichan Bay and beyond to the distant mountain range.

74,849+/- sq. ft.

Improvements: Typical room

Location

Cowichan Bay is a unique fishing village on Vancouver Island surrounded by many beautiful beaches, lakes and farms and conveniently positioned between the City of Victoria to the south and the City of Nanaimo to the north. Just 10 minutes drive off the Trans Canada Highway and only 30 minutes drive from both Victoria and Nanaimo, Cowichan Bay is easily accessible making it an ideal tourist destination.

Zoning

C4 (Tourist Recreational Commercial) - full zoning available upon request

The Cowichan Bay area offers a wide selection of year round tourist attractions, from exploring the wine country, to lake and ocean fishing, kayaking, hiking and golfing. Rich in history, this tourist community was started in the 1850’s as a Hudson Bay Company fort and offers many historic sites and galleries to visit. This area is increasingly infamous for some of the finest wineries and world class golf courses.

Rooftop view of Hotel

$709,805 (July 1, 2010 - June 30,2011)

Assessment (2010) Land: Improvements : Total

The amenities offered at Oceanfront Grand Resort & Marina include: • Lobby • Indoor swimming pool • Restaurant • Fitness room

• Boardwalk walkway • Liquor store

• Meeting rooms • Two saunas

$1,580,600 $762,800 $2,343,400

Taxes (2009) $48,218

3

*Please note - there is a Land Use Contract (LUC) registered on title and our discussions with the CVRD suggest that both the zoning and LUC are in effect relative to the permitted uses/zoning at the Property.

Proforma Net Operating Income

Hotel Amenities

• Jacuzzi spa

The Oceanfront Grand Resort was built in 1980 and was partially redecorated in 2005/2006. The property accommodates approximately 76 parking stalls; 46 of which are underground, 20 are open stalls and 10 are open stalls designated for the restaurant. The building was constructed with reinforced concrete/concrete block, jumbo brick and wood frame and the roof is flat torch-on and the exterior is mainly stucco with some concrete block and jumbo brick.

The 56 suites are comprised of 51 One bedroom and Five Two-bedroom suites. All units have a kitchenette and all suites have spectacular ocean views.

• Laundry room

Price Reduced Price

• Retail space Cowichan Bay Road

$7,300,000

$6,800,000

FOR S trait of G eorgia

To Victoria

Pavenham

Cow

icha

nB

SALE

Hig

hwa y1

To Nanaimo

Oceanfront Grand Resort & Marina Cowichan Bay, BC

Road

Prit c ha rd Roa d

ay R o

ad

C owichan B ay N

For further information, please contact:

Sam Nakhleh*

Hart Buck

604.661.0861 sam.nakhleh@colliers.com

604.662.2646 hart.buck@colliers.com

Available via the Court Ordered Conduct of Sale Process For further information, please contact: Sam Nakhleh* 604.661.0861 sam.nakhleh@colliers.com

Colliers International – Complete Commercial Real Estate Services Since 1898 200 Granville Street, 19th Floor,Vancouver, British Columbia, Canada V6C 2R6 Toll Free 1.866.681.2655 Telephone 604.681.4111 Fax 604.661.0849 This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. Colliers International is a worldwide affiliation of independently owned and operated companies. This publication is the copyrighted property of Colliers International and /or its licensor(s). Š 2010. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. * Personal Real Estate Corporation. PO # AP-042610

www.colliers.com/vancouver

Hart Buck 604.662.2646 hart.buck@colliers.com

View of Cowichan Bay