A 93-acre private estate known as Turnagain Island has sold for $13 million, marking a historic residential transaction for British Columbia's Sunshine Coast. The property, located near Halfmoon Bay, was purchased by an individual from the Greater Vancouver area.
The $13 million transaction for 93 acres of Turnagain Island
The sale of Turnagain Island represents a significant milestone for the Sunshine Coast real estate market. According to Sotheby's International Realty Canada, the 93-acre property was originally listed for $14,749,000 before closing at the $13 million mark. This transaction, which involved four distinct legal parcels, sets a new record for the highest-value residential sale recorded through the MLS system in the region.
The estate is situated near Secret Cove and Smuggler Cove Marine Provincial Park, offering a mix of pristine forests and rugged Pacific Ocean views. The property includes two distinct residences: a 2,859-square-foot contemporary home featuring floor-to-ceiling windows, and a 3,202-square-foot Pacific Northwest craftsman-style house.
Submarine hydropower and a 120-foot dock define the estate
Turnagain Island is equipped with significant utility infrastructure that distinguishes it from standard recreational lots. The property features a deepwater dock extending 120 feet, multiple boathouses, and even submarine hydropower infrastructure.
Additional amenities reported by Sotheby's include a municipal water supply, an irrigation reservoir, and several garages. These features allow the 93-acre island to function as a self-sustaining luxury retreat while remaining accessible to the nearby communities of Halfmoon Bay and Sechelt.. The presence of such specialized infrastructure suggests the buyer is looking for a "turnkey" lifestyle rather than a raw land development project.
Strategic buyers navigate BC's rising recreational inventory
The record sale comes at a time when some British Columbia recreational markets have seen increased inventory and slower sales activity. However, Kevin O'Toole, Managing Broker for Sotheby's International Realty Canada, suggests this trend indicates a shift toward more strategic, well-positioned buyers rather than a decline in marekt confidence.
As the report notes, affluent purchasers are currently taking more time to evaluate high-end opportunities. this "wait-and-see" approach among the wealthy is being countered by decisive interest in properties that are priced appropriately for the current economic climate. Gina Stockwell, Senior Vice President of Sales with Sotheby's, emphasized that the property's unique combination of privacy and natural beauty helped attract interest from qualified buyers across Canada and around the world.
Who is the Greater Vancouver buyer?
While the sale is finalized, several details regarding the transaction remain private. The identity of the purchaser, who hails from Greater Vancouver, has not been disclosed to the public.
Furthermore, it remains unclear how the $13 million sale price compares to the most recent BC Assessment valuation for the four specific parcels. While the report states the value is consistent with such a premium sale, the exact delta between assessed value and market price remains unverified. Additionally,it is unknown if the buyer intends to maintain the island as a private residence or if the property will be used for broader recreational purposes.
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