Kirk Penton, Castanet – Two Kelowna hotels and a prime piece of property are up for court-ordered sale after a company was ordered to liquidate.

Dilworth Inn and Recreation Inn are two Witmar Holdings properties that have been ordered sold, along with the property at 1864 Harvey Ave., which is currently vacant.

Kelowna-based Witmar Holdings, according to court documents, received a liquidation order last year “as a result of the long-running disputes and litigation among the shareholders of the company, and the inability to find a workable and acceptable solution to divide the company among its shareholders.”

The dispute occurred because four siblings—Walter Weisstock, Antony Weisstock, Albert Weisstock and Silvia Gerard—could not decide how to run the company after the passing of their parents, who incorporated Witmar Holdings in 1981.

Witmar also owns several apartment buildings and residential real estate rentals, but William Wright Commercial and CBRE Limited have been hired to market the two hotels and Harvey Avenue property.

The Recreation Inn, whose address is 1891 Parkinson Way, features 49 rooms over two storeys. Along with the vacant Harvey Avenue property, which is connected to the Recreation Inn site, the total size is 80,934 square feet. The properties can be purchased separately or together.

The Dilworth Inn, which is located on Dilworth Avenue between Harvey Avenue and Enterprise Way, boasts 50 rooms and 43,560 square feet, although William Wright and CBRE are marketing the property as having “fantastic redevelopment potential.”

The properties will be sold through a bid process.

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Read the full article published by Castanet.