Vancouver home being sold at auction to 'Chinese real estate investors'

Posted by Michael La Prairie on Wednesday, December 5th, 2018 at 8:21pm.

Vancouver home being sold at auction to 'Chinese real estate investors'

 

A “mid-century modern Vancouver estate” is being auctioned off to target wealthy “Chinese real estate investors.”

Sitting on an 11,638 sq.ft. lot, the home — designed by renowned Vancouver architect Kenneth McKinley — will be sold to the highest bidder through luxury auction firm Concierge Auctions on its online marketplace.

6137 Collingwood Place/ Concierge Auctions

Bidding will be open online for worldwide buyers on December 14 and will close at a live auction in Hong Kong on December 19, in order to “target Chinese real estate investors,” said Concierge Auctions in a release.

The 2900 sq. ft. single-family home, located at 6137 Collingwood Place, is nestled in a cul-de-sac on Vancouver’s West Side.

The home has four bedrooms, several fireplaces, floor-to-ceiling windows, an eat-in kitchen, and a fully landscaped yard. It also has a lot of beige wall-to-wall carpet.

The home was was previously on the market for $3.67 million.

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6137 Collingwood Place/ Concierge Auctions

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6137 Collingwood Place/ Concierge Auctions

“Between its multi-family development potential, land assembly condo potential, location and superior design, the property itself appeals to a wide range of buyers,” stated listing agent Mark Wiens of Dracco Pacific Realty, in a statement.

“In real estate, no one knowingly sells at a market peak and no one buys at a market trough. Therefore, I believe a set auction date will induce the buyers who have already expressed interest to take action.”

6137 Collingwood Place/Concierge Auctions

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6137 Collingwood Place/ Concierge Auctions

According to Concierge Auctions, recently enhanced zoning allows for the buyer to build a massive duplex new single-family mansion up to approximately 8,147 square feet.


Continue reading at Vancouver home being sold at auction to 'Chinese real estate investors' at Daily Hive Vancouver

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