Richmond’s most expensive property has been assessed at just over $13 million, but only just sneaks into the province’s top 400.
According to the latest BC Assessment valuations, as of July 1 2021, the city’s priciest residence is a recently-built, farmland mega mansion on a 26.6-acre lot on No. 2 Road, just south of Steveston Highway.
The property, at 11400 No. 2 Rd, comes in at 368th in B.C.’s top 400 most expensive properties, with Chip Wilson’s mega mansion in Kitsilano once again topping the charts at $73,147,000 (up from $66,828,000 in 2020).
The Richmond mansion was the only property in the city to make it into the province’s top 400 list.
Its BC Assessment valuation at $13,090,000, is a whopping $5,112,000 increase from July 2020.
The land it sits on has spiralled to $7,978,000 (from a meagre $347,174), while the building is now valued at $5,112,000 (from 2,582,000).
The Richmond News has reached out to BC Assessments to explain the increase in its land evaluation.
The mansion is described as being on two storeys, with seven bedrooms and nine bathrooms over 18,000 or so square feet.
In 2018, the Richmond News reported how the property, owned by shell company 11400 Development Ltd., had exploded in valuation from $88,000 to $8.3 million.
The increase rang the alarm bells for Richmond-based FarmWatch, which cautioned that, one by one, farms were being taken out of production and that such mansions, despite being built on farmland, were clearly not being built for farming.
