B.C. farm that produces $625-a-litre olive oil to be sold in online auction

The Olive Farm on Salt Spring Island in B.C. is shown in this image courtesy of CLHBid.com.

A sprawling property on a B.C. island that is home to Canada’s only commercial olive oil farm will soon be up for sale in a one-hour online auction.

The sale of The Olive Farm on Salt Spring Island earlier this week was announced by CLHbid.com, which describes itself as a law firm specializing in selling farms and ranches. The auction is scheduled for Aug. 12 at 9 a.m. PT.

The extra virgin olive oil the farm produces sells for $625 per litre and reportedly routinely has a waitlist of prospective purchasers.

The farm’s founders and owners Sheri Braun and her late husband George spent years searching for somewhere in Canada with a climate warm and dry enough to be conducive to growing olives and settled in a valley on the Gulf Island in 2010.

“We’re pleased to support Sheri as she looks to turn her dream project over to a new owner,” Roy Carter, CEO of CLHbid.com, in the announcement of the sale.

“The olive production is increasing annually as the trees mature and the property’s plentiful irrigation and unused land provides additional opportunities to scale-up production.”

The 74-acre property is being sold in two parcels, with the starting bid for each set at $2.19 million.

The first parcel is 36 acres and is home to the 750-tree olive grove, a green house, a small home and the facility in which the olives are processed.

The second is 38 acres and features a two-bedroom home built in the style of a Tuscan villa.

The person who submits the winning bid will also have the option to purchase the farm equipment and olive mill.

“Given that this sale is offering 74 beautiful green acres in one of the world’s most desirable locations, along with one of Canada’s most comfortable climates, we expect tremendous interest from across North America from people looking to carry on Sheri and George’s impressive legacy and business, and anyone simply looking for a spectacular place to live,” the announcement of the sale said.

More information about the property and the auction is available online.