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$61M Burnaby strata wind-up, sale goes ‘sideways,' lands in court

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The Cameray Gardens strata on Kingsway directly north of Burnaby Central Park has voted to wind up, but a $61-million deal to sell the property has become the subject of a heated court battle.

A $61-million strata wind-up and sale in Burnaby has landed in B.C. Supreme Court, with both sides accusing the other of breaking the deal.

Development property with a view What's at stake is a property of "particular value," in the words of Justice Crerar. First, the strata is in the middle of a $224,000 lawsuit with Community Fire Prevention Ltd. related to the alleged installation of fire prevention equipment at the strata. The company said all those factors amount to encumbrances on the property not permitted under the sales agreement.

 

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