The District of Lake Country has purchased the former BC Tree Fruits property located at 9718 Bottom Wood Lake Road.
Shortly after the nearly nine-decade-old cooperative declared bankruptcy in July, the 8.4-acre lot and packing plant, conveniently located next to the Winfield Arena activity hub, went up for sale.
On July 26, more than 300 fruit farms from around the Okanagan woke up to the news that the BC Tree Fruits Cooperative would no longer be accepting any produce and had filed for creditor protection.
In Vancouver Court on August 26, BC Tree Fruit Co-op was ordered to sell its assets in order to repay $50 million in debt to CIBC. As per the court order, properties, equipment and land across the Okanagan were listed for sale.
The 73,000-square-foot building and 8.3-acre property at Bottom Wood Lake Road was listed on realtor.ca for $10,995,000.
The District of Lake Country bid $9.1 million for the lot and on Nov. 27, the court-ordered sale was approved.
"When a unique opportunity like this comes along, when grant funding and reserves are available to make a purchase that will benefit the community long into the future, it feels like a win for all," said Lake Country Mayor Blair Ireland
The land and buildings offer the possibility for the location a new RCMP detachment, a recreational site or public use spaces, said Ireland.
"Renovating and maximizing the use of existing 73,965 sq ft and 4800 sq ft buildings on the property, with lots of room for parking, plus improvements and expansion of the adjacent Winfield Arena, make this a strategic addition to Lake Country91ÂãÁÄÊÓƵ™s assets," said the District of Lake Country.
