A coastal haven owned by the family of ’90s TV star is up for grabs on Vancouver Island.
Terrace Beach Resort, a commercial offering of 21 suites and cabins next to Ucluelet’s world-famous Wild Pacific Trail, was recently listed for $4,495,000.
The Priestley Family — Norma, Lorne and son Jason of Beverly Hills 90210 fame — have been welcoming guests to their vacationer’s oasis for the past 20 years.
“We are selling for simple reasons. We are getting older. Retirement age of 65 is long past,” said Lorne and Norma Priestley in an email to the VI Free Daily.
Port Alberni-based realtor Dave Koszegi is working with the Priestleys to find the right buyer.
“There is nothing available like it. It’s super unique and it has an interesting storyline with celebrity ownership and stuff,” said Koszegi. Jason Priestley became a teen heart-throb playing the character Brandon Walsh on Beverly Hills 90210.
Koszegi says he’s had a fair bit of interest in the property despite the challenges presented by COVID-19.
“It’s well-priced,” he said. “The inquiries that we’ve had, there have been a few investor/developer type people where normally they’d buy a resort and then strata title it and then split it up and sell it off, well [Terrace Beach Resort] is already strata titled.”
BC Assessment as of July 1, 2020 shows an increase to the value of each strata unit. ‘Unit One’ was valued at $510,000—previous year value was $463,000—for example, and ‘Unit Two’ was valued at $123,000—previous year value was $112,500.
Constructed in 1999, Terrace Beach Resort is designed to resemble a 1920 fishing village: the central building that houses the main office is built on pilings, with boardwalks that meander the majestic trees to adjoining beachfront cottages. Suites are fully-equipped kitchenettes and many have private decks with hot tubs.
Koszegi said the vacation property has been a popular and well-enjoyed spot.
“Anything on the West Coast, it feels like the day you build it nature is taking it back. I mean, it could use some upgrades,” he said.
Nonetheless, Koszegi adds that owning a resort in Ucluelet is a “world-class opportunity”.
“It’s so international. Europeans will come in the offseason. It’s a small little hideaway place with international draw and that’s the magic there. It’s unlike anywhere else on the Island,” he said.
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