Industrial Strata Unit

"Foreclosure"

This is a bank foreclosure by Interior Savings Credit Union. The property will be delivered in an "As is Where is" condition. Any offers will be subject to Court approval, and at least 14 days must be allowed after the removal of any subject conditions to obtain court approval. An additional 15 business days (minimum) should be allowed between the date set for court approval and the completion date.

Stremel Centre is a 3 phase 18 unit strata titled development. The improvements vary in size from 822 square feet (strata lot 18) to 1,077 square feet (strata lots 2 - 7). Construction of the shell units comprise a concrete perimeter wall foundation, poured concrete slab on grade, concrete block exterior wall and level tar and gravel roofing membrane. The strata units include a 12' x 14' overhead service door temperature control within each unit is supplied by a ceiling suspended gas fired heating unit. The building's effective age is estimated at 2 years with a remaining economic life of 48 years.

The 2006 constructed strata lot 15 situated within phase 3 comprises 959 square feet of open warehouse space, 100 amp 3 phase power and open steel web trusses. Ceiling height is 20 feet. Construction appears of average quality workmanship and materials. the interior unit includes one parking stall located at the front of the unit.

Zoning is I2 General Industrial pursuant, pursuant to the City of Kelowna Zoning Bylaw No. 8000, adopted October 1998 and revised on march 7, 2005. The purpose of I2 zoning is to provide for general industrial uses, including;

• Commercial storage
• General industrial uses
• Warehouse Sales
• Recycling Depots
• General and limited contractor services
• Minor eating and drinking establishments

The maximum site coverage is 60% with a maximum height of 14.0 meters ( 45.9 feet) and a maximum floor area ratio of 1.5

Excellent location to Hwy. 97, and the Kelowna Airport.

2008 Property taxes were $2,374.29

Monthly strata fees are $153.65 (to be confirmed)

Strata management company
Associated Property Management (2001) Ltd.
#1 - 1441 St. Paul Street
Kelowna, BC 250 - 869 - 8824
Strata manager:- Stu Linsdell