The Jewel of Vancouver Island on Sale!

In an exciting turn of events, Nanaimo's Woodgrove Centre, the largest mall on Vancouver Island and a key economic player in the region, is officially up for sale. This announcement comes hot on the heels of a Chinese billionaire's intriguing plans to acquire numerous Hudson's Bay locations following the retail giant's recent downfall.

A Glimpse at Woodgrove's Value and Features

While the commercial real estate firm Colliers hasn't listed a sale price, the latest evaluation by the BC Assessment Authority places Woodgrove Centre's worth at a staggering $216 million. With 5.9 million visitors flocking to its impressive 67 acres of retail space, housing over 140 stores, this property is not only a shopping haven but also a vital service hub and significant taxpayer for the City of Nanaimo.

The Vision Behind the Sale

Weihong Liu, board chairwoman of Central Walk, which purchased Woodgrove in 2020 for an estimated $200 million, is at the forefront of this potential sale. Liu is also making headlines with her ambitious mission to resurrect The Bay, a historic Canadian brand, and has shared her vision in passionate videos on the Chinese social platform RedNote.

Determined to uplift The Bay, Liu said in Mandarin, "Knowing that The Bay, this national brand that carries Canada’s history, will collapse, I can’t stand by and watch. We must do our best to save it, letting the Canadian spirit continue to thrive for the younger generation."

A Greener Future Awaits

As if the sale itself weren't enough excitement, the City of Nanaimo plans to transform the Woodgrove area over the next quarter-century, focusing on creating a greener, more family-oriented environment. Liu is aware of these ambitious city plans, hinting at a possible synergy between her vision and the city's future.

From Humble Beginnings to Modern Marvel

First opened in 1981, Woodgrove Centre has undergone extensive renovations, including a significant expansion in 2000 and a major facelift in 2016, which brought updated amenities like a revamped food court and upgraded facilities. This mall is not just a shopping destination; it's a part of Nanaimo's fabric.

As the sale progresses, all eyes will be on how this iconic shopping centre will evolve and continue to shape the community!