The Sumas Powerhouse is no longer up for auction.
The Abbotsford News has learned that the current owners of the property, which was originally built in 1906 by the B.C. Electric Corporation, were uncomfortable moving forward with the auction and chose to cancel it.
The property was originally set to be auctioned off starting on March 22, but was then delayed until March 25. The auction was then targeted to begin on Wednesday at 5 p.m., but owners made the call to pull the plug on the process.
Located at 39623 Old Yale Road, the Powerhouse boasts 12 bedrooms, 10 bathrooms, five kitchens, four balconies, an elevator and a 1,000-bottle wine cellar.
The property spans 11,462 square feet and includes more than 2.35 acres of land.
It was last listed at $4.999 million, but the planned without-reserve stipulation for the auction would have meant that there is no pricing floor or ceiling.
American company Concierge Auctions was brought in to handle the auction portion of the sale, and project sales manager Scott Pate spent a month in Abbotsford hosting open houses and building up interest for the auction.
According to the property’s real estate agent Sara Gillooly, the property has returned to the traditional selling market.