SAVING THE LIGHTHOUSE
Sheringham Lighthouse now safe. Page 15
Wednesday, June 24, 2015
Editorial
Page 8
Entertainment
Page 21
Sports/stats
Page 29
N E W S
3.125x1.2” Dimock
2015 Sooke Home Sales: 190 2014 Sooke Home Sales: 300 TAMMI DIMOCK
Agreement #40110541
Black Press C O M M U N I T Y
Sooke is Selling!
Classifieds 25• 75¢
M E D I A
Personal Real Estate Corp.
250.642.6361
Foreclosure not in the plans for Sooke Harbour House Investors unroll new expansion plans Pirjo Raits
Sooke News Mirror
Reports of the demise of the Sooke Harbour House through foreclosure are unwarranted and inaccurate said co-owner Frederique Philip. “We are absolutely not in foreclosure,” said Philip. She said they have not been served a foreclosure and are just weeks away from paying back their loans to Business Development Bank of Canada (BDC). “We simply overshot the policy period in funding the new debt package. The BDC had Pirjo Raits photos to aim some “friendly Above, Sooke Harbour House which will be going through renovations and fire” in our direction,” upgrades in the near future. Expansion plans are in the works, not foreclosure, said Philip in corre- said Frederique Philip, on the right, co-owner of the Sooke Harbour House. spondence. The action taken by BDC was pursuant to their time policy for property, said Philip. In debt package as part cup!” Many factors connon-performing loans. 2012 the property was of their overall financCourt documents listed for sale at $5.9 ing and the BDC will tributed to the revenue be paid out of that new erosion experienced by state that the BDC million. Monetary restructur- interim senior secured the hotel including: the had launched foreclo2008 global financial crisure action against the ing is currently taking debt. “Things are taking sis, high energy prices, Sooke Harbour House. place to accommodate The Sooke Harbour their expansion proj- longer than expected,” a strong Canadian dolHouse currently owes ects with a group of said Philip via email on lar, lack of working $2.9 million on a 1997 investors. Plans include Friday. “A few glitches capital, coherent mar$409,900 2 acresinvestment happened also dur- keting plans, as well a $2on million mortgage on two prop- home · Great water supply in Phase I and another ing that time that have as family issues. Many erties. The properties #1 Real Estate Company in Canada million in Phase II. slowed down the pro- of these factors are no are assessed at· $3 Stroll mil- to$5lake Sales · Carriage House allowed issue in last the 4 Consecutive Years lion but this is not the The investors are clos- cess. This is not a set longer anfor true market value of the ing on a $3.5 million back, just a small hic- larger picture allowing
Shelly@ShellyDavis.ca www.ShellyDavis.ca
EllenBergerud@Shaw.ca LorendaSimms@gmail.com RealEstateSooke.com LorendaSimms.com
$409,900 home on 2 acres Call Shelly to view
Ellen Bergerud 250-818-6441
ber 2016, are among the extensive plans. Plans are in the works for “The Ocean Club”, an exclusive club open to 100 members who will enjoy the hotel as well as a day sail on the hotel’s chartered 50-foot sailing vessel. There are many other changes which are all intended to enhance revenues and the hotel’s appeal to travelers and locals. The Sooke Harbour House has a long history in Sooke. Thirtysix years ago Frederique and Sinclair Philip purchased the small inn at the foot of Whiffin Spit. They have been front and centre in the Slow Food movement and have been awarded numerous international honours both for their inn, food and their wine cellar. The Sooke Harbour House has consistently been named one of Canada’s best inns and restaurants. The hotel has been used for feature films and movies, has welcomed movie stars, politicians and the rich and famous, while always maintaining its small town charm and reputation for fine food. “The thing to do is to believe in the Sooke Harbour House and our capacity to go forward as planned even with this little hiccup,” said Philip.
Sooke Office: #1B-6631 Sooke Rd. Seaview Business Centre
is! eat th an’t b c u o !! Y Wow
Shelly Davis 778-352-3535
for a more optimistic outlook in the tourism industry. Expansion and upgrades will include complete upgrades to the existing oceanfront guest suites; a new casual restaurant serving local craft beers on tap along with the same food philosophy as has been practiced for the past 36 years, expected to open in July. A new spa facility, a permanent art gallery featuring local and First Nations art, and 22 new guest suites, to be completed by Octo-
water supply Lorenda Simms •• Great Stroll to lake 250-217-5787 • Carriage House allowed
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