Osprey Mobile Home Park 5011 River Road, Pritchard/Kamloops, BC
Property Detail
Property Description
Osprey is located in the Thompson Nicola Regional District on 10 non ALR acres, across River Road from the wide, South Thomson River, a mile-long public waterfront, and the 4 lane Trans-Canada Highway, 25 minutes East of Kamloops. This beautiful slowly moving river drains the Shuswap Lakes, 10 miles to the East and provides approximately 200 miles of swimming & navigable waterway. The town of Chase occupies the near Shuswap Lakeshore.
The present Osprey plan provides 65 lots but is approved for 71+/- lots. The developer has completed Phase 1, of 3 phases, consisting of 24 Strata lots, underground services, and the common private park on 4 of the 10 acres, at 5005 River Road. These lots, ½ DW/SW average 4300 sq. ft., with sold lot prices ranging from $89.500 to $136,800, plus a landing fee. Manufactured homes, either spec show homes, or ordered custom homes, are supplied by approved local dealers, who pay Osprey a landing fee to locate a home. An Osprey site specific home dealership is available to the Osprey park owner. 5005 River Road (Phase 1) is not presently offered for sale. However, interested parties can contact our Realtor for further information.
Regional District bylaws allow 8 units per acre. The developer has negotiated a connection to their adjacent municipal sewer/water systems that allows 71+/- lots to be connected. The developer settled on a 65 lot ½ SW/DW plan that provides larger lots over 3 phases. Average lot size is approx. 4300 sq ft. All services are underground and include fire hydrants, high speed wireless internet, cable TV, and irrigation from the river. Site work and government approvals are completed.
5011 RIVER ROAD – FOR SALE – Phases 2 & 3
5011 River Road contains approx. 6+/- acres, a modern 2000 sq ft residence, 10 SW/DW serviced lots (2 paved) with all approvals for a further (65 – 24 = 41 strata lots) or (71 – 24 = 47+/- rental or strata lots). Unsold strata lots may also become rental lots. The residence, if removed, could provide 3 additional lots. The approval process for this development stretched over 15 years. Given the ALR restrictions on most vacant acreage, the present cost of land, the NIMBY response to new development, and the length/cost of the approval process, it is unlikely there will be another MHP Opportunity of this calibre built or offered for sale In B.C. on freehold land.
An October 2019 appraisal valued 5011 River Road at $1,930,000. A copy of the appraisal is available.
An outright share purchase of Riverside Living Inc. could produce up to $800,000, in tax free shareholders loan benefits. A subsequent sale could produce a tax free credit of a further $883,000.
Please view the Osprey Website @ WWW.riversideliving.ca.
