Historic Ormsby property sold

Coldstream’s offer was refused, and the property was listed on the open market for $5.9 million

A prime piece of lakefront property, with strong historic roots,  has been sold and not preserved for community use.

The District of Coldstream had hoped to purchase historian Margaret Ormsby’s home and property on Coldstream Creek Road. Not only would the property extend existing public waterfront from the Mackie and Sovereign properties, but Ormsby’s will noted that the district should have first opportunity to buy the property.

Coldstream’s offer was refused, and the property was listed on the open market for $5.9 million. It has sold and is now in private hands.

“Council is disappointed that the district was unable to come to some agreement to purchase the property at a reasonable price for a park,” said Mayor Jim Garlick.

“I imagine Margaret Ormsby would also be disappointed at the outcome.”

Listing agent Craig Broderick, Re/Max Commercial Solutions, says the property generated a substantial amount of interest from various parties.

“It speaks to the unique, estate-like characteristics of the property having over 420 feet of frontage on Kalamalka Lake and 2.4 acres offering quite a bit of privacy.  The high level of interest also highlights the desirability of the North Okanagan, especially with respect to premium properties.”

The property is listed in the Okanagan top 100 valued residential properties for 2014, at No. 90 with a taxable value of $3.5 million.

Coldstream has several properties on the list, including one on Kalavista Road ranked No. 10 with a taxable value of $5.586 million.

There’s a Ravine Drive property ranked at No. 24 and another Kalavista Drive property at No. 81. The list is comprised of Kelowna and West Kelowna properties with some in Lake Country and Penticton but none in Vernon.