Who Buys a Mountain?
With nearly two weeks until the bid deadline, there is a lot of speculation as to what kind of high-profile buyer will purchase the Capes Lake mountaintop parcel in the TimberWest land auction, and what he or she will do with it. In conjunction with Avison Young and Colliers International, LFC Online is auctioning this 12,000 acre parcel of beautiful timberland along with an additional 2,000 acres in Port Renfrew and Campbell River on Vancouver Island.
Newport Beach, CA (PRWEB) October 25, 2007 -- With nearly two weeks until the bid deadline, prospective buyers are gearing up to bid on a portion of the 14,000 acres of land that TimberWest Forest Corporation is selling on Vancouver Island in British Columbia. In conjunction with Canada-based commercial real estate brokers Avison Young and Colliers International, LFC Online is offering six separate parcels of forest land, most with merchantable timber value, in an accelerated online auction marketing campaign.
"What's so great about our online platform is that potential buyers can bid from all over the world," comments Bill Lange, President of the LFC Group of Companies. "It isn't too late for interested buyers to participate in this auction, even if they cannot physically visit the property, they can perform their due diligence through our website which features thorough and extensive information on the properties, including images, maps, and other detailed documents."
Particularly of interest to many high-profile buyers is the Capes Lake property, a one-of-a-kind 12,000 acre mountaintop parcel offering pristine forest, cascading waterfalls, serene private lakes and unsurpassed views of picturesque Georgia Strait.
Given the Internet's worldwide exposure of the property, combined with the property's intriguing qualities, the question still remains: 'who buys a mountain?'
There has been a lot of speculation as to what kind of buyer will purchase the Capes Lake parcel and what he or she will do with it. From celebrities seeking a private getaway to real estate moguls looking for a legacy property to add to their real estate portfolio, anyone's guess is possible this early in the "auction game." Others imagine an entrepreneur could buy the land for development purposes while, on the flip side, a philanthropist might buy the land, which borders Strathcona Provincial Park, for conservation purposes.
Also offered in this online auction are four distinct parcels, totaling 1,400 acres, of secluded forest land with potential development opportunities in Port Renfrew. In addition, just northwest of Vancouver, there is a functional industrial waterfront lot in Campbell River, perfect for a company looking to relocate or expand and complete with an office building, an 11,000 sq. ft. workshop, a concrete boat launch and a wharf with adjoining dock.
Unfortunately, British Columbia residents may have to wait until the bid deadline of Thursday, November 8 to find out who the winning bidder is and at what price. Interested parties and potential bidders are urged to visit www.LFC.com/686R3 to review more information about the available properties and register to bid in this once-in-a-lifetime online auction event. Until then, as the bid deadline approaches, Vancouver Island citizens will have to continue to wonder, as only time will tell who will own this mountain.
LFC Group of Companies
For over 30 years, the LFC Group of Companies have served numerous Fortune 500 companies, real estate developers, investors, financial institutions and government agencies by auction marketing thousands of commercial, industrial, land and residential properties with an aggregate value well in excess of $5 billion. www.LFC.com
Avison Young Commercial Real Estate Commercial Real Estate Inc.
Avison Young is a real estate brokerage and consultancy firm specializing in corporate tenant representation for office, industrial and retail companies as well as in investment property acquisitions and dispositions and in landlord representation. The company has ten offices across Canada and is part of the Grubb & Ellis Global Alliance of commercial real estate professionals. Avison Young is a partner-owned Canadian commercial real estate company comprised of over 300 real estate professionals including licensed brokers, financial analysts, research professionals and marketing specialists across Canada. www.avisonyoung.com
Colliers International
Colliers International is the largest commercial real estate firm in Canada and one of the largest in the world. Colliers offers a wide range of specialized capabilities including commercial brokerage services, asset services, corporate and financial services as well as market research and information services. Colliers employs over 10,000 professionals occupying 334 offices in 57 countries. Colliers has been built on the strengths and depth of our local market knowledge offered to our clients through a global platform. In Vancouver, Colliers has a full service office consisting of 212 employees and is recognized as the top performing Canadian Colliers office for the last four consecutive years. With our 100 plus years of history in Vancouver, Colliers has a distinct competitive advantage.
TimberWest Forest Corporation (TSX: TWF.UN)
TimberWest Forest Corporation is uniquely positioned as the largest owner of private forest lands in western Canada. The Company owns approximately 334,000 hectares or 825,000 acres of private timberland. These timberlands are located on Vancouver Island and the majority of the land base supports the growth of Douglas fir, a premium tree species sought after for structural purposes. TimberWest runs fully-contracted harvesting operations. With almost 80% of the Company's annual private land logging now being done in second-growth stands, TimberWest leads the Coastal industry in the growing and harvesting of second-growth timber. The Company's independent auditor, KPMG Performance Registrar Inc., periodically certifies that the forest management practices on the Company's private timberland continue to meet all Sustainable Forestry Initiative (SFI®) requirements. SFI requirements specify that forest harvesting is integrated with environmental and conservation goals for soil, wildlife, water quality protection, conservation of biodiversity, protection of special sites and aesthetics in a manner that ensures a sustainable harvest over the long-term. TimberWest also owns renewable Crown harvest rights to 0.7 million m³ of logs per year and operates a sawmill located near Campbell River, BC. In addition, approximately 38,000 hectares or 94,000 acres of the Company's private forest lands have been identified as having greater value as real estate properties and will progressively be made available for higher uses over the next ten to fifteen years. The Company reviews its land base on a periodic basis to update the size of its portfolio of higher use properties. www.timberwest.com
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