A 74-acre commercial olive farm located on B.C.’s Salt Spring Island will be sold through an online auction process.

The property ranks as Canada’s only commercial olive oil farm, says CLHBid.com, which is organizing the selling process. The property will be sold through an online bidding process on CLHBid.com on Aug. 12 as owner Sheri Braun retires from the business.

Known as The Olive Farm, the property is located in Fulford Valley on Salt Spring Island, which is the only area in Canada with a microclimate considered mild and dry enough to support commercial-scale olive production, according to CLH Law. Braun and her late husband, George Braun, established the operation after extensive research into suitable growing conditions for olives in Canada.

The farm’s 750 olive trees produce extra virgin olive oil that is used by chefs and high-end restaurants across Canada and internationally. The oil, marketed as entirely grown and produced in Canada, retails for $625 per litre and regularly sells out, with production continuing to increase as the trees mature.

The property will be offered in two parcels through a one-hour online tender conducted by CLHbid.com, with starting bids of $2.19 million for each parcel. One 36-acre parcel includes the olive grove, processing equipment, irrigation infrastructure, a greenhouse and a small home, while the second 38-acre parcel features a Tuscan-style residence overlooking the Fulford Valley.

The sale has already attracted interest from prospective buyers in Canada as well as Colorado, California and Texas, according to CLH Law.

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

CLHbid.com describes itself a pioneer in online agricultural land sales with thousands of acres available online. Launched in 2016, the company is an offshoot of Grande Prairie, Alta.-based law firm CLH Law. 

Pictured: Commercial olive farm on Salt Spring Island, B.C.

Photo: CNW Group/CLHBid.com