The large property on which Klahanie Campground sits is for sale by court order.
The 15-hectare (37-acre) property includes almost 0.5 kilometres of waterfront and "extensive highway frontage."
It is being sold by Re/Max's Claire Group and Colliers' Unique Properties as part of a foreclosure.
The listing reads, "The property provides one of the single best tourist development opportunities within the Sea to Sky Corridor and B.C. today."
Different kind of a sale?
Manjit Claire, with Re/Max's Claire Group, said he couldn't say yet exactly what the property would be sold at but it would likely be "in the $20-million-plus range."
"It's a very rare property. Obviously, it is not within the reach of the average buyer, but for somebody who has the pockets to make it, it would be like a trophy property," he said. "It would be the gateway going into Squamish and Whistler. There's an opportunity to create something really unique."
The 2024 BC Assessment valued the property at about $11.7 million.
Claire said with a court-ordered sale like this "you're always buying a property as is, where is.”
This means that the onus to do all the due diligence is on the buyer, he said.
But much of the purchase process is the same for any real estate buy.
"The initial offer is the same back and forth, as you would negotiate any offer," Claire said.
"Once an offer is accepted, and if there are any subjects on the offer, it's the same thing as a regular offer. Once subjects are removed, and that deposit has been put into place, only then does a court date get set."
At that time, anybody else who wants to bid on the property can present a competing bid, generally up to four days before the court date is set, Claire added.
The other bids would get forwarded to the lenders' lawyer and then the lawyer would present all the offers to the court.
"The court decides which offer to accept, generally it does go on the highest price. The competing bid cannot have any subject conditions," Claire said.
He noted that while the property does have its challenges for the buyer, in that plans would have to work through the municipal process, it still has a lot of potential.
The listing says that the property "is prime for redevelopment to a variety of uses consistent with its tourist commercial zoning."
Campground
Currently home to the popular Klahanie Campground, the listing says the RV and tenting campground has over 100 sites.
"The property will provide valuable holding income pending redevelopment," reads the listing.
The campground’s Rick Poissant told The Squamish Chief via email that he was not too concerned about the latest development with the property.
“We have been here before, and this issue will also disappear soon,” he said, adding his understanding is there is some corporate restructuring underway.
(The listing asks that people not visit the site directly; call the agent to arrange a visit.)
Over the years, this property has had a few different plans that didn't pan out.
Most recently, plans for a $400 million Klahanie resort—including a five-star destination resort, hotel, restaurant, and spa—gained momentum in 2017 but have since stalled.
According to an Assessment Roll Report, Shannon Shores Landholdings NO 1 LTD/ Landholdings NO 1 LTD/Symphony Resorts LTD owns the property.
