540 Marsett Place, Victoria

Island’s Royal Oak Golf Course sold for $8.5 million

November 3, 2023

Western Investor staff with Roxanne Egan-Elliott, Times Colonist — The Capital Regional District (CRD) has purchased the former Royal Oak Golf Course adjacent to Elk/Beaver Lake Regional Park in Greater Victoria for $8.5 million.

William Wright Commercial office brokered the sale, which was handled by listing agent Santanna Portman from the company’s Parksville, B.C. office.

The property was owned by a Saskatchewan-based numbered company called 1122580 B.C. Ltd. since August 2017, when it was purchased for $3.5 million, B.C. land records show.

Portman has worked with one of the Saskatchewan partners, the All-Rite Group of Companies, for over 10 years, with investments spanning throughout Western Canada. 

“This transaction was a great opportunity to work with the Victoria/Saanich area and we are excited to see the property go back to the community,” Portman said.

He added that the Saskatchewan investment group is looking at future opportunities on Vancouver Island.

The nearly 11-hectare (27-acre) parcel of land borders the southeast boundary of the regional park and includes connecting trails between the park and Saanich Commonwealth Place.

The CRD says it will work with local First Nations while developing a long-term management plan for the land and engage with the public to determine what it should be used for.

Board chair Colin Plant said several nations have expressed an interest in being involved in creating a vision for the former golf course.

“I think using the space for parks and recreation will be a logical place to start the conversation, but the board will listen to our First Nation governments and the public and respond transparently,” Plant said.

The nine-hole golf course closed eight years ago, and the property went on the market this spring for $9.5 million. The site holds a clubhouse with meeting rooms, an equipment rental space and restaurant facilities with an outdoor patio with seating for up to 120. A golf coaching business on the property, Golf Performance Project, will stay.

The majority of the land is within the Agricultural Land Reserve, where it is expected to stay, according to the CRD.

Read the full article published by Western Investor.
Read the sale announcement by William Wright Commercial.

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This communication is not intended to cause or induce breach of an existing agency agreement. E&OE: All information contained herein is from sources deemed reliable, and have no reason to doubt its accuracy; however, no guarantee or responsibility is assumed thereof, and it shall not form any part of future contracts. Properties are submitted subject to errors and omissions and all information should be carefully verified. All measurements quoted herein are approximate.