Nicola Valley home sites to sell with no minimum bids at Ritchie Bros. auction

    MERRITT, BC, April 14 /CNW/ - On May 30, 2009, 12 fully-serviced,
undeveloped home sites in B.C.'s Nicola Valley will sell to the highest
bidders - regardless of price - at an unreserved auction conducted by Ritchie
Bros. Auctioneers (NYSE and TSX: RBA). Five of the home sites are situated in
the Nicola Lakeshores Estates, with views or frontage along the pristine
Nicola Lake, just minutes outside Merritt in the heart of the Nicola Valley.
The other seven home sites are located in the Merritt Plateau overlooking the
picturesque valley.
    All 12 home sites will be sold at an unreserved public auction in
Vancouver on May 30, with no minimum bids or reserve prices. The auction also
features an ocean-view condominium in Parksville on Vancouver Island and four
luxury fractional ownership shares in the Bighorn Meadows Resort in Radium Hot
Springs, B.C. Interested buyers can bid in person at the Vancouver auction, in
person at a live auction simulcast in Merritt, over the internet or by proxy.
    "When you buy property at an unreserved auction, you know you're paying
fair market value because the seller doesn't set the price, the bidders do,"
said Ellen Engelsbel of Ritchie Bros. "We're selling a large selection of
prime recreational and residential properties at our May 30 auction and they
will all be sold to the highest bidders on auction day, regardless of price.
This is an exceptional opportunity for wise investors - but if you want to be
successful on auction day, you have to be registered to bid."
    Frank Rizzardo is one of the owners and developers of the Nicola Valley
properties. Over the past 12 years, the owners have invested millions of
dollars getting the properties ready for people to build their dream home.
    "The Nicola Valley is really appealing as a lifestyle choice, especially
to people from the Lower Mainland," said Mr. Rizzardo. "The cost of living is
lower, there are no traffic issues, and we enjoy a relatively mild four-season
climate. The Nicola Lakeshores Estates are on a beautiful beach with a public
dock; even the lake view properties are just a few hundred feet from the
water. I live there myself and my son lives up in the Merritt Plateau, which
is the newest and best serviced subdivision in town; it was designed so that
every property has a view. Merritt is a little-known gem in the interior;
we're hoping the auction will attract the attention of a wider range of


    Five fully-serviced home sites in the Nicola Lakeshore Estates on the
northwest shore of Nicola Lake:

    -   6560 Monck Park Road, Merritt - 0.991+/- acres - lakefront
    -   6496 Monck Park Road, Merritt - 1.238+/- acres - lakefront
    -   6445 Monck Park Road, Merritt - 1.08+/- acres - lake view
    -   6473 Monck Park Road, Merritt - 1.142+/- acres - lake view
    -   6337 Monck Park Road, Merritt - 1.053+/- acres - lake view

    Seven fully-serviced home sites in the Merritt Plateau:

    -   2840 Peregrine Way - 5,963+/- sq ft (560+/- sq m)
    -   2810 Peregrine Way - 6,372+/- sq ft (611+/- sq m)
    -   4217 Falcon Crest Drive - 6,652+/- sq ft (620+/- sq m)
    -   4207 Falcon Crest Drive - 6,771+/- sq ft (635+/- sq m)
    -   2743 Peregrine Way - 6,781+/- sq ft (630+/- sq m)
    -   2825 Peregrine Way - 0.314+/- acres (881+/- sq m)
    -   2839 Peregrine Way - 0.314+/- acres (881+/- sq m)

    Ocean-view luxury condominium in Parksville (built 2007):

    -   106 - 1325 Cape Cod Drive, Craig Bay
    -   One bedroom, two bathrooms
    -   1,095+/- sq ft

    Note: an open house will be held at the Parksville condominium this
    Sunday, April 19, from 1 - 4 p.m.

    Fractional ownership opportunities in the Bighorn Meadows Resort:

    -   Luxury resort development alongside the Springs Golf Course
    -   Two one-quarter shares and two one-eighth shares will be sold


    -   Location: the Grand Villa Hotel, 4331 Dominion Street, Burnaby (off
        Hwy One at the Willingdon exit)
    -   Date: Saturday, May 30, 2009
    -   Registration starts at 9 a.m.
    -   "How to Bid" seminar at 10 a.m.
    -   Auction at 11 a.m.


    -   In person at the Grand Villa Hotel in Burnaby
    -   In person during a live auction simulcast at the Florentine in
        Merritt (4100 Belshaw Street)
    -   In real time over the internet (register well in advance at
    -   By proxy


    Go to for more
information about the auction and to see additional details and photos of the
properties being sold, or contact Ellen Engelsbel at 604.273.2135.
    PHOTOS of the properties are available to use with your articles at

    About Ritchie Bros.

    Established in 1958, Ritchie Bros. Auctioneers (NYSE and TSX: RBA) is the
world's largest industrial auctioneer, selling more equipment to on-site and
online bidders than any other company in the world. The Company has over 110
locations in more than 25 countries, including 38 auction sites worldwide.
Ritchie Bros. sells, through unreserved public auctions, a broad range of used
and unused industrial assets, including equipment, trucks and other assets
utilized in the construction, transportation, agricultural, material handling,
mining, forestry, petroleum and marine industries. The Company maintains a web
site at and sponsors an equipment wiki at

For further information:

For further information: Ellen Engelsbel, Manager, Real Estate Auction
Services, Ritchie Bros. Auctioneers, Office: (604) 273-2135 or email:; Or Kim Schulz, Corporate Communications Manager,
Ritchie Bros. Auctioneers, Mobile: (604) 788-5379 or email:

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