The Western Speedway, and the 80.97 acres of land on which it sits, have been sold under a conditional contract. (CBRE Victoria photo)

The Western Speedway, and the 80.97 acres of land on which it sits, have been sold under a conditional contract. (CBRE Victoria photo)

Western Speedway sale gets the green light

Public to learn new buyer’s intentions, purchasing price in early 2021

The race to own a landmark piece of Langford property is almost complete with the sale of Western Speedway nearing the finish line.

The iconic property was taken off the market on June 18, after an interested buyer has entered into a conditional contract, according to Duncan Thompson, a consultant on the sale and president of ESAI Corp.

Due to confidentiality agreements, Thompson said it will be late February or early March 2021 before the public learns what the sale price was and what the new owner’s intentions will be for the property.

The 81-acre property has 42 acres of potential commercial use and 3.34 acres for residential development.

Langford Mayor Stew Young said in a previous comment to Black Press Media that he and council would support the potential for rezoning as long as the new owner would preserve the speedway.

Langford’s current official community plan designates the property as business or light industrial.

READ MORE: Langford mayor eager to keep cars racing at Western Speedway – now up for sale


 

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aaron.guillen@goldstreamgazette.com

LangfordWestern Speedway