Community Impact
In what’s sure to be a game-changer for south Nanaimo, the “Sandstone” property is poised to become one of the largest master-planned developments ever in the Mid Island region. The 726-acre master-planned site is centrally located within the southern boundary of the City of Nanaimo. This location will become the fifth and largest urban node in the City of Nanaimo, creating residential, industrial, and commercial core areas to serve the southern environs of the municipality and greater market area, as well as to function as a self-supporting community in a regional district that is the second fastest growing in BC.
Comprehensive Marketing Campaign
Colliers was asked to be the listing representative on behalf of the Joint Venture owners. An extremely detailed CIM was prepared and sent out along with a drone video presentation directly to Canada’s developers which detailed the 11+ years of work the JV owners had invested into the property.
Securing the Right Developer Buyer
There was a good deal of interest from across Canada for this offering however the intricacies of the future development process required a buyer who had a track record in master plan communities and was also familiar with Vancouver Island. Colliers directly identified a developer who we determined was the best fit and were able to satisfy them as to the viability of such a landmark site and in the process recorded the largest sale of a development site by transaction value in Nanaimo’s history.
Key Facts:
• 726 acres
• Asset Type: Master Planned Development property
