Former New Westminster prison listed for sale cheaper than a Shaughnessy home
A 122-year-old former New West prison is up for sale and it’s cheaper than most homes in Shaughnessy.
Listed for $5,830,000, the former prison is listed as an owner-user or investment opportunity.
The building sits on a 1.1 acre C-2 zoned site with development potential, with the listing suggesting it’s ideal for ground-floor retail and daycare with residential usage above.
Based on pictures, this former prison looks more like a castle.
BC Assessment pegs the total value at $4,558,000, and whoever makes an offer would be subject to court approval. No one has yet been approved for purchase based on how long the listing has been up, 61 days.
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NAI Commercial
BC Assessment says the property was last sold in June 2021 for $5,083,750, around $800,000 less than what it’s currently listed for.
NAI Commercial
According to the NAI Commercial listing, the property was renovated in 2022. Zealty states that over the last two years, over $3 million has been invested into the property for improvements.
Daily Hive Urbanized previously covered the property, detailing its history, when Sutton Centre Realty listed it.
Artistic renderings highlighted the potential for the former New West prison.
The Gatehouse building of the former British Columbia Penitentiary at 319 Grosvenor’s Court in New Westminster. (Sutton Centre Realty)
The Gatehouse building of the former British Columbia Penitentiary at 319 Grosvenor’s Court in New Westminster. (Sutton Centre Realty)
Artistic rendering of Heritage Hotel within the Gatehouse building of the former BC Penitentiary at 319 Governors Court, New Westminster. (KMBR Architects Planners)
Would you put down $5.8 million if you had the money for this historic property?
Update:
NAI Commercial has informed Daily Hive that as of this morning, the property is no longer listed for sale.
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