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Sold for $23-million, Island property assessed at half that

BC Assessment valued 8404 Lawrence Rd. in Central Saanich at just over $11 million.
8408 Lawrence Rd. in Central Saanich sold last fall for its asking price of $22.75 million. According to BC Assessment, it was assessed at just under $11.15 million as of July 1, 2021. (Courtesy of Engel & Volkers)

The highest assessed residence on the Saanich Peninsula is a 13,000-square-foot waterfront home in Central Saanich, the sale of which for $22.75 million last fall set a new record.

Notably, the sale price for 8404 Lawrence Rd. is more than double its assessed value as of July 1, 2021 of just under $11.15 million.

The home, which sold to an unknown buyer for its asking price, features a private beach and boat launch. Other amenities in the six-bedroom home include eight bathrooms and various recreational and culinary facilities, including a detached yoga studio and underground wine cellar.

RELATED: Sale of Saanich Peninsula estate breaks Greater Victoria price record

RELATED: Property assessments up more than 40 per cent in some Vancouver Island communities

The second-most valued Peninsula residential property, according to recently released BC Assessment Authority figures, is another Central Saanich address, 460 Westview Rd., which has been assessed at $10.31 million. Third on the list is 9344 Ardmore Dr. in North Saanich, with an assessed value of $9.82 million.

In fact, Ardmore Drive is home to five of the 10 highest assessed properties in North Saanich. Four properties on West Saanich Road (split evenly across North Saanich and Central Saanich) also make the list of the 30 highest assessed values on the Saanich Peninsula.

Central Saanich and North Saanich properties dominate the Top 10. The highest assessed property in Sidney was 10493 Allbay Rd. coming in at $6.94 million, 15th highest among the three communities.

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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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