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Sale of oceanfront property in Metchosin yields new record for Greater Victoria

Listed at $14.1 million, Swanwick Ranch sold to an undisclosed buyer
Swanwick Ranch in Metchosin, featuring an award-winning home on 67 acres of property overlooking the ocean, recently sold for a record-setting, yet undisclosed amount. (Sotheby’s International Realty Canada photo)

An award-winning ocean-front property in Metchosin has changed hands for a record-setting price for the region.

Listed at $14.1 million, Swanwick Ranch, located at 529 Swanwick Rd., has sold to an undisclosed buyer, Sotheby’s International Realty Canada has announced. While details of the sale remain private, the price broke a record for the highest recorded residential sale through the MLS (Multiple Listing Service) system in the history of Greater Victoria.

Logan Wilson, listing agent for Sotheby’s, said the property drew what he described as steady interest from Canadian and international would-be buyers.

“It’s an innovative retreat and a stunning backdrop for some of Vancouver Island’s most distinctive highlights, including the panoramic shoreline and Olympic Mountain range views,” he said. “With multiple private beaches and an attached boathouse with a mechanical launch providing direct access to the Salish Sea, the property is an expertly designed beachfront escape.”

Designed by Marko Simcic, the main residence with a total floor space of 10,700 square feet is sustainably entwined in surrounding Garry oak savannah, cantilevered atop a concrete armature that lifts the structure clear of root zones in blurring what Sotheby’s calls the “boundaries of nature and shelter.”

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Built in 2005, the building won the Canadian Architect Award in 2003 and a Lieutenant-Governor’s Award in 2008.

Wilson said the local market for luxury real estate has experienced a surge. “The diversity of interest we saw in this property reflects the fact that Victoria is not only increasingly desirable amongst Canadian home and recreational property buyers, but also a coveted destination on the global real estate stage,” he said.

Don Kottick, president and CEO of Sotheby’s International Realty Canada, said this “landmark sale” reflects strong local and global demand for luxury suburban, recreational and vacation real estate in B.C.

“Canadian real estate is one of the most desirable assets on the global market right now, and consumer demand has revealed the lifestyle and investment benefits of regions like Greater Victoria, Vancouver Island, and the Gulf Islands to a new audience of Canadian and international buyers,” he said.

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Wolf Depner

About the Author: Wolf Depner

I joined the national team with Black Press Media in 2023 from the Peninsula News Review, where I had reported on Vancouver Island's Saanich Peninsula since 2019.
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