- What A cold storage facility and agricultural land are for sale in Surrey, B.C.
- Why The property is being sold by court order
- What next The property is listed at $22.5m
A 110-acre land parcel in Surrey, B.C., has been listed for sale at $22.5m after a court ordered Raiwal Holdings to sell the property to settle its debts, Green Street News can reveal.
The property, at 4586 176 Street, is zoned as agricultural land but has cold storage facilities. The marketing assignment was given to eXp Realty of Canada.
Several cold storage units are on the property, including a 30,000 sq ft freezer and a 9,300 sq ft frozen fruit processing building.
The property also includes a 2,000 sq ft shipping and receiving building, 2,000 sq ft of office space, three homes and farmland for crops.
It is 5 km west of Langley and 10 km north of the Douglas Border Crossing.
Court documents show Raiwal Holdings was in default of more than $9.3m as of Jan. 9 with the Royal Bank of Canada being the petitioner.
The property previously sold in 2012 and the listing price at the time was $10m.
