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Richmond industrial site sells for nearly $2 million above assessment

An industrial site in Ironwood has sold for nearly $2 million above its assessed value. The 1.4-acre site, at 12148 Horseshoe Way, between Shell and No. 5 roads, sold for $9,188,000 last month, according to Western Investor .
Kirsten Clarke
12148 Horseshoe Way
An industrial site, outlined in red above, in the Ironwood area in southeastern Richmond has sold nearly $2 million above its assessed value. Photo submitted

An industrial site in Ironwood has sold for nearly $2 million above its assessed value.

The 1.4-acre site, at 12148 Horseshoe Way, between Shell and No. 5 roads, sold for $9,188,000 last month, according to Western Investor.  The purchaser of the site isn’t named.   

The site, zoned as industrial and office use, was valued at $7,272,000 by B.C. Assessments this year.

According to the assessment, the approximately 26,000 sq. ft. building, constructed in 1988, was valued at just over $2.8 million, and the land at nearly $4.5 million.