New owners take possession of Bella Beach Inn

New owners are taking over the Bella Beach Inn in Davis Bay.

The Burnaby-based Evergreen Hotel Group completed the purchase of Bella Beach Motel Ltd. and acquired the property at the beginning of September.

Evergreen has a decade of experience in the hospitality industry and currently owns 12 hotels in B.C., located on Vancouver Island, the Lower Mainland and in the Fraser Valley.

The Bella Beach closed its doors earlier this spring at the start of the pandemic, and was subject of a foreclosure proceeding launched in Vancouver Supreme Court on Aug. 19 involving the owner at that time, Jin Guang Holdings Ltd., and the previous owners.

Shakil Adam, managing director of Evergreen, told Coast Reporter the company had been pursuing the possible purchase of the Bella Beach a few months before the court case was filed, attracted by the “spectacular waterfront location” and the opportunity to “do something very special” with the property.

“It was a location that was very highly regarded and there was a significant amount of disappointment and in some cases, people were not impressed with what had been done with that site for quite some time,” he said.

A notice of discontinuance in the foreclosure case was filed Sept. 1, allowing Evergreen to have clear title and begin work on what Adam describes as a “significant” renovation.

“We’re in very early stages of [the renovation], which involves some light demolition in the rooms and removal of the furniture,” said Adam, who added that the company is also hoping to start work as soon as possible on exterior renovations that will “100 per cent” include a change in colour.

“It will look nothing like what it looks like today.”

Adam said the company expects the renovation work will take at least three months, and they’re hoping to reopen in time for the spring and summer tourist seasons but won’t rush the work.

There are already signs of renewed activity at the motel and a Craigslist ad was posted Sept. 23 offering some of the motel’s furnishings and old televisions.

Adam said Evergreen’s planning was done knowing that, between the pandemic and the renovation work, the property would not be generating revenue for some months.

“I hope we can do justice to the location and more importantly, make the residents of the Sunshine Coast proud of what we’re going to be able to create there for the community,” he said.

The motel and the property are currently valued by BC Assessment at $4.1 million and while Adam would not disclose the purchase price, he said it was above the assessed value.

 

© Copyright Coast Reporter

Popular Real Estate

Popular Coast Reporter