Resort suites sell in four hours for $50 million

Wednesday, August 31st, 2005


A new Ucluelet oceanfront resort sold out in just four hours Tuesday, with $50 million in real estate changing hands.

Prices for suites in the 132-unit Black Rock Oceanfront Resort ranged from $235,000 to $825,000, the resort said.

“There hasn’t been an offering quite like Black Rock Oceanfront Resort on Vancouver Island,” Mike Duggan, president of Boutique Hotels of British Columbia and a principal of the development, said in a news release.

“Buyers from across North America, but predominately from British Columbia recognized the inherent value of this site and this offering.”

Managed by Boutique Hotels of British Columbia, the resort occupies 3.4 hectares of a 40-hectare planned resort community. There will be a $100-million investment in the property of which 20 hectares will stay in its natural state.

Boutique Hotels of British Columbia is manages the Nita Lake Lodge in Whistler, Oswego Hotel in Victoria, The Cove Beach Resort in Kelowna and The Outback near Vernon.

© The Vancouver Sun 2005

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