Local Bidder Takes FSJ Apartment
By 250 News
A 28-suite apartment building in Fort St. James sold for $640,000.00 at yesterday's Ritchie Bros. auction in Prince George...
Ritchie Bros. Vice-President of Marketing, Clay Tippett says, "I think the buyer actually lives in Prince George, but has business interests in Fort St. James." Tippett says, "There was on-line bidding from outside the province, but, in the end, it was between the local bidder and one on the Lower Mainland."
According to information about the buildling on the company's website, the gross income was estimated at $145,000.00 annually.
Tippett says the sellers are pleased with the result, "They achieved a price that was more than fair as far as they're concerned and they're happy to have it sold."
A wrecking/towing business in McBride also went in yesterday's sale, with the property going for $37,500.00. Tippett says, "Len, the owner, finally gets to retire so that's a happy story."
The sale follows one two weeks ago that saw former Premier Bill Vander Zalm sell off a piece of lakefront property in the Cariboo for $325,000.00 (click here, for earlier story).
Tippett says as Ritchie Bros. continues to expand into different markets, like real estate, there's a growing interest internationally. He says the Fort St. James property and McBride business had almost 1,000 webpage viewings in the week leading up to the auction. The Marketing VP says buyers are drawn to the "true auction" at Ritchie Bros. where there's no minimum price and everything sells to the highest bidder.
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