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Okanagan home sells for record price

The five-bedroom, 12-bathroom house at 6950 Lakeshore Rd. in Kelowna sold for a whopping $13.25 million to a local business person.
This home at 6950 Lakeshore Road in Kelowna sold for $13.25 million

A stunning home near the end of Kelowna’s Lakeshore Road has sold for a record price.

The five-bedroom, 12-bathroom house at 6950 Lakeshore Rd. sold for a whopping $13.25 million to a local business person. The sale, which was brokered by Vantage West Realty, broke the Central Okanagan record for the largest sale price of a single-family home.

The previous record high sale price was for the home at 4010-4020 Lakeshore Rd., which the City of Kelowna purchased for $12.495 million in 2015 and turned into Bluebird Beach Park.

“It’s very cool to have the opportunity to put together a deal like this,” Vantage West founder A.J. Hazzi said. “It actually required us to break out some of the tools from our toolkit. We had to get a bit creative. With the high interest rates, we had to get creative around that. And we had to get creative with inclusions. As often is the case with properties of this calibre, people want them turnkey, so you end up negotiating a bunch of chattels as well.”

Vantage West Realty listed the home for $15.6 million in July 2022 and generated two offers, but neither deal was consummated and the listing was pulled in June of this year. However, one of the potential buyers brought to the table by Vantage West’s Simon Ward continued their pursuit, and the record deal was completed.

“It’s a long negotiation, but it’s fun. It’s gratifying,” Hazzi said. “It’s really good when you get to do it with with a colleague as well in your in your own office.”

The home has 12,700 square feet and has 342 feet of lakeshore in front of it. It features a Japanese-inspired hidden garden, beach house, elevator, pool, sauna, hot tub, outdoor kitchen and patio and luxury dock with boat lift. It was built in 2016 and has won several homebuilding awards.

The Vantage West team created a listing video for the property that attracted global attention, according to Hazzi, and generated more than 29,000 YouTube views, which is a lot for a listing.

In the end, however, it was a local who snapped it up.