SKAHA BLUFFS PROVINCIAL PARK

PAINTED ROCK ESTATE WINERY

SSMYTHE DR M Y T H E D FOR SALE R Lake view development site ideal for Estate Home with a vineyard or Single-Family Subdivision Development LLAKESIDE RD AK ES ID E 257, 375 & 455 SMYTHE DRIVE RD , UNOBSTRUCTED LAKE VIEWS JUST MINUTES FROM DOWNTOWN PENTICTON

DOWNTOWN PENTICTON SKAHA BLUFFS PROVINCIAL PARK

445555 SSMYTHEMYTHE

337575

SSMYTHEMYTHE R DR

THE

SMYTHESSMY DR

SKAHA LAKE 225757 PAINTED ROCK ESTATE WINERYWIN SSMYTHEMYTHE

LLAKESIDE RD A K E S ID E R D

THE OFFERING View overlooking the Cushman & Wakefi eld ULC. (“C&W) is pleased to off er a unique opportunity to acquire a signifi cant development site with spectacular lake views, and just minutes from Downtown Penticton, BC With a total site area of 23.7 acres, the Properties off er an exceptional opportunity to build an estate home with a vineyard in a special natural setting or proceed and execute on current rezoning for approximately 27-lot subdivision. The Properties off er one-of-a-kind view of the Skaha Lake in the heart of the Valley, adjacent to Skaha Bluff s Provincial Park and Painted Rock Estate Winery.

PRICE $4,500,000 or approximately $165,000 per proposed lot, if subdivision is executed. PROPERTY SUMMARY LEGAL MAP The Properties are located in south Penticton, on the eastern shore of Skaha Lake and at the western edge of the Skaha Bluff s Provincial Park. The Properties front onto Smythe Drive – a direct access road to Skaha Provincial Park. 375 Smythe is improved with a single-family dwelling and 257 and 455 Smythe properties are vacant.

337575 FUTURE LAND USE SSMYTHEMYTHE AND ZONING 225757 The recently updated Penticton Offi cial SSMYTHEMYTHE Community Plan (OCP) designated the 445555 SSMYTHE DR MY SSMYTHEMYTHE Properties as Detached Residential, TH E Rural Residential, and Natural and DR Conservation Areas. 375 Smythe Drive is currently pending rezoning and Council gave fi rst reading in October 2020 in order to rezone from A (Agriculture) to RM1 (Bare Strata Housing) with maximum density of 27 single detached dwellings. The proposed zoning will be in line with the updated OCP future land use designation.

SALIENT DETAILS CURRENT OCP DESIGNATION MAP 375 SMYTHE DR 257 SMYTHE DR 455 SMYTHE DR

PID 028-168-755 028-168-739 028-168-763

Lot 2 Plan KAP90446 Lot 1 Plan KAP90446 Lot 3 Plan KAP90446 RR-1-1 LEGAL District Lot196 Land District Lot196 Land District Lot196 Land DetachedDetached DESCRIPTION District 54 District 54 District 54 ResidentialResidential RRuralural RResidentialesidential SIZE AREA ±12.03 acres ±1.12 acres ±10.57 acres NNaturalatural & CConservationonservation AAreasreas OCP Natural and Detached Residential Rural Residential DESIGNATION Conservation Area

CURRENT USE Single-Family Dwelling Vacant Vacant VIEWS OVERLOOKING THE PROPERTY & SKAHA LAKE

SKAHA LAKE

PAINTED ROCK ESTATE WINERY

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EEXISTINGXISTING HHOUSEOUSE OONN 337575 SSMYTHEMYTHE 337575 SSMYTHEMYTHE

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DEVELOPABLE LAND While the Properties off er the fl exibility to own and build a personal estate, the main developable parcel at 375 Smythe has undergone signifi cant development planning and is currently conditionally approved for a 27-lot subdivision. This diagram outlines a summary of an extensive engineering study showing the approximate developable land area of 6.03 acres (2.44 hectares). This developable land area aligns with the proposed subdivision into 27 single-family bare strata lots. MARKET OVERVIEW Penticton is a growing city that is located in a beautiful natural setting with excellent climate and unmatched lifestyle. Penticton is surrounded by lush valleys, mountains and freshwater lakes, the stunning setting paired with most attractive climate in PENTICTON AIRPORT Canada with over 2,000 hours of sunshine annually makes Penticton and the Okanagan Valley a very attractive place to live. PENTICTON Penticton experiences a steady population growth and economic prosperity. Penticton is a hub of commercial, institutional and cultural activities in the South Okanagan with over 3,000 businesses serving a market of over 100,000 people and 1.2 million visitors annually. Penticton off ers great amenities that contribute to an attractive lifestyle. The area has 7 beaches, 120 kilometers of hiking and biking trails and numerous public parks. The regions farmlands are considered one the best in the country contributing to numerous farmers markets and over 80 wineries, craft breweries and distilleries within a 20-minute drive. Recent infrastructure upgrades include a $312 million upgrade to Penticton Regional Hospital and a $6 million renovation to Penticton SKAHA LAKE Airport, as well as $15 million invested in the Penticton Downtown area. PENTICTON AREA RESIDENTIAL HOME AVERAGE RESIDENTIAL HOME PRICE IN OKANAGAN FAST FACTS* PRICES HAVE REACHED 58,600 2020 POPULATION NEW RECORD LEVELS 3.6% IN THE OKANAGAN PROJECTED 5 YEAR OVER THE PAST 12 POPULATION GROWTH MONTHS. AVERAGE $93,800 AVERAGE HOUSEHOLD INCOME HOME SALE PRICE IS

NOW IN THE $650,000 53.0 MEDIAN AGE RANGE, AN INCREASE 2.18 OF OVER 20 PERCENT PERSONS PER HOUSEHOLD

FROM 2019 *Includes Penticton CMA & District of Summerland source: The Canadian Real Estate Association source: Environics Analytics, KKelownaelowna IInternationalnternational AAirportirport

Kelowna International Airport (16 direct destinations) y ar g al C to t h ve ig ri l D F r ly u ai o h D 5 in 77.5. hour Drive m 5 775 min Daily Flight to

t to Va Fligh ncouv min er 50 4 hour Drive

Okanagan Lake le tt ea S o t e iv r RRegionalegional D r u AAirportirport o h

5 Skaha Lake

CONNECTIVITY Penticton is located in the heart of the Okanagan Valley, approximately 65 kilometers south of , 60 kilometers from U.S. border and approximately 400 kilometers from . Penticton is served by two airports, the Penticton Regional Airport with daily service to Vancouver and Calgary and Kelowna International Airport with daily service to over 16 domestic and international destinations.

*Flight schedules may diff er during the COVID-19 pandemic Painted Rock Estate Winery SKAHA LAKE

PAINTED ROCK ESTATE WINERYWINER

R D E H T Y M SSMYTHE DR

Overlooking Subject Properties Local Wineries

Penticton Beach

Edgar Buksevics Personal Real Estate Corporation Executive Vice President Capital Markets - Investment Sales 604 640 5859 cushmanwakefi eld.ca [email protected]

E.&O.E.: The information contained herein was obtained from sources which we deem reliable and, while thought Suite 700 - 700 West Georgia Street, PO Box 10023, Pacifi c Centre, Vancouver, BC V7Y 1A1 to be correct, is not guaranteed by Cushman & Wakefi eld ULC 02/21 no