Court ordered sale of luxury Richmond hotel asks nearly $1M per room
A boutique Richmond hotel that opened three years ago has been listed for sale at the order of a BC court with an asking price of $98 million.
Real estate firm Avison Young has listed the 8499 Bridgeport Road property, publishing a brochure this month featuring pictures of the eclectic bedrooms, chic bathrooms, and outdoor pool area.
“Rare opportunity to acquire a well-appointed, luxury boutique hotel just minutes from Vancouver International Airport,” Avison Young says in the listing.
versantehotel.com
The hotel, located near Bridgeport Station, was dubbed “Vancouver’s newest ‘it’ hotel” by Forbes when it opened in 2021. A handful of restaurants operate within the space, including high-end Acre Through the Seasons, which closed this month.
The building contains a total of 100 rooms, according to Avison Young’s brochure, bringing the asking price close to $1 million per suite.
The luxury property transfer is touted as a highly accessible location adjacent to Richmond’s International Trade Centre. The hotel’s good reviews are also part of the sale’s marketing materials.
Avison Young
Court documents reveal that Fox Island Development Ltd. and Advanced Venture Holding Co. Ltd. petitioned the BC Supreme Court in January to declare the mortgage on the Versante Hotel and several other properties in default.
The court documents identify Sunwins Enterprise Ltd. and Mo Yeung (Michael) Ching as operators of the hotel.
Fox Island and Advanced Venture Holding told the court they were owed nearly $79 million in connection with a loan for the hotel.
The hotel remains open as the sale progresses.
“We recognize that there is an ongoing shareholder dispute regarding the ownership of AMTD Versante Hotel,” It said in a statement. “It is important to note that this does not affect the day-to-day operations of the hotel. We are committed to continue to provide exceptional hospitality for our hotel and restaurant guests.”
With files from Kenneth Chan and Claire Fenton
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