An entire Penticton block has hit the market for $3.15 million.

The downtown block on Westminster Avenue encompasses five lots and is currently home to the longtime Italian restaurant Villa Rosa Ristorante.

The property includes a large commercial building, currently operating as Villa Rosa and two rental homes.

Dan Jones is the property91裸聊视频檚 realtor; he said he91裸聊视频檚 never before had the opportunity to list an entire city block in his whole career.

The current owner has owned Villa Rosa for 91裸聊视频渁t least fifteen years91裸聊视频� and bought the houses as the became available, Jones said.

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The property has been listed for about ten days and Jones says he91裸聊视频檚 already 91裸聊视频渟ix or seven91裸聊视频� inquires but no offers yet.

Jones said that the property would be an ideal investment for a local developer. A development there could fit about 30 apartments above and 10 to 12 commercial units below.

91裸聊视频淚t would be good for the area because you91裸聊视频檙e close to the beach, the convention centre and the like, even a boutique hotel or something would work there.91裸聊视频�

Jones said the main majority of interest he91裸聊视频檚 received so far has come from developers.

Even if the property is sold quickly it wouldn91裸聊视频檛 necessarily spell an immediate end for Villa Rosa Ristorante.

The current owner of the property would like to stay and lease the property back, Jones explained. 91裸聊视频淒evelopers usually take time to get their time into effect so he91裸聊视频檚 willing to lease it back at a good rate,91裸聊视频� he said. 91裸聊视频淎 lot of these properties are hard to carry if there91裸聊视频檚 no rentals on them.91裸聊视频�

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jesse.day@pentictonwesternnews.com
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