It might be up for sale, but it will take a pretty special proposal to convince Langford there shouldn鈥檛 be a racetrack at Western Speedway, says Mayor Stew Young.
Young said Langford will wait and see what a new owner wants to do with the property, but it would have to be 鈥渟pectacularly better鈥� for the council to approve a rezoning that would allow the demolition of the speedway.
鈥淟angford鈥檚 preference is to keep it as the historic site it is,鈥� said Young. 鈥淣ew people coming in will have to recognize the importance of the speedway to the community.鈥�
Western Speedway, established in 1954, is Western Canada鈥檚 oldest speedway and had a B.C. 鈥淪top of Interest鈥� sign unveiled at the site in 2018. It now has a for-sale sign.
The track and surrounding land are part of the estate of Vera Wille, who died in 2017. For the past two years, ESAI Corporation has been preparing the 80.97聽acres for sale, said president Duncan Thomson.
The land, at 2207 Millstream Rd., is being marketed to large developers interested in creating a master-planned industrial business park on the site, with the possibility of an additional small residential development.
The land has no price tag, as it will be sold via a competitive bid process. Submissions will be accepted until 11 a.m. on June 18 and will be evaluated on the price being offered, deposit structure and the timelines for closing the deal. Parties that qualify will be asked to enter into a confidentiality agreement prior to gaining access to the finer details of the property.
Thomson said the market will ultimately determine the property鈥檚 price, and the successful buyer will determine the future of the land.
鈥淚t鈥檚 not for anyone to decide what鈥檚 there except the new owner 鈥� they will make the new decision,鈥� he said. The official community plan is clear 鈥� 鈥渢hey want to see business and light industrial uses on that land. There鈥檚 no mention in the official community plan of the continuation of the speedway.
鈥淲e rely on an official community plan. We see them and treat them as serious documents. We always believe they have been formulated in good faith.鈥�
While Young said Langford council will look at all rezoning applications, he is adamant the last word will go to council.
鈥淚t鈥檚 private land and they can come in for rezoning, and if council decides to give them rezoning, we will see what they bring forward,鈥� he said.
鈥淚 don鈥檛 think you鈥檒l see much change of that use there. The speedway has been well supported by council.鈥�
The Western Speedway site also includes a go-kart track, mini golf, batting cages and an RV park.
According to real estate firm CBRE鈥檚 sales brochure, income from tenants has traditionally covered expenses and the $192,755 in annual property taxes.
