Photo: Wayne Moore
A thorough internal review of the company’s assets has prompted the BC Tree Fruits Co-operative to determine that it no longer needs its long-serving downtown building.
According to company CEO Warren Sarafinchan, the 74-year-old building will be listed “shortly.”
“The cooperative is changing the way our business operates,” Sarafinchan told Castanet News.
“As part of our review, we strategically looked at our assets and determined which ones are at the heart of future business and which are no longer needed.
While it is a difficult decision to move offices downtown, Sarafinchan says it is a necessary decision for the company.
Staff from the downtown office will eventually move to one of the other two facilities, the Winfield Packing Station or another office in one of the co-op’s storage facilities.
“We have more than enough space between these facilities to run our business,” he says.
The price tag has yet to be determined for the 0.275 acre property, however, BC Assessment put the 2020 value at $ 2.727 million, of which $ 2.088 was the value of the land.
Although the Water Street property is not officially on the market, Sarafinchan says that hasn’t stopped potential buyers from inquiring.
“I was shocked and frankly overwhelmed by our interest in the building, even before it was listed.
“The phone has been ringing for some time. ”
He wouldn’t say if a majority of those calls came from developers, only indicating that there was interest from a wide range of stakeholders.
The property is currently Zoned Commercial C7, however, the future land use designation for the property is Mixed Use, Residential-Commercial.
The downtown city plan allows for up to 19 stories to be built on the property.
This is one of two properties that BC Tree Fruits is putting up for sale, the other being the Osoyoos Packing Plant, which was closed two years ago.