Author: Iain Burns

In 2023, it was first listed for sale with much fanfare for an eye-watering $13.5 million.

By April of this year, court-ordered receivership saw the price tumble down to $7 million.

And recently, the price has been slashed further to $5,749,000.

That's less than half the original price.

A 57.41% discount.

We're speaking of the Vibrant Vine Winery and mansion at 3240 Pooley Rd. in bucolic Southeast Kelowna.

More than 17 years ago, Wyn and Marion Lewis, who made their money in international banking, started the Vibrant Vine on the 11-acre property and took up residence in the 8,000-square-foot mansion with pool.

The winery quickly became a favourite racing to a No. 1 winery in Kelowna rating on TripAdvisor and gaining attention for its world-first 3D tasting room and psychedelic shrink-wrapped bottles.

A health scare for Wyn led the couple to put the property up for sale  in 2023 for $13.5 million so they could retire, relax, travel and spend more time with family.

Two deals to sell came close but ultimately fell through.

By early this year, the Bank of Montreal petitioned, via the Supreme Court of BC, to put Vibrant Vine into receivership under the Bankruptcy & Insolvency Act in an effort to recoup the $6.8 million the bank is owed.

The appointed receiver Deloitte Restructuring had the property listed for sale for $7 million in April 2026, an amount that could see the bank repaid, cover some unpaid property taxes and presumably pay Deloitte's tab.

The list price recently dropped to $5,749,000, which aligns more closely with its BC Assessment of $5.8 million.

Assessed value and what you might potentially get for a unique property can be wildly different.

Thus, the original $13.5 million asking price.

Now, with the property in receivership, the winery out of operation and the vines untended, the asking price is less than half the original.

If the Lewises had sold three years ago for $13.5 million they could have easily paid off Bank of Montreal and scooped millions for their retirement.

Instead, circumstances have conspired to result in a distressed as-is sale offer.

The current for-sale listing doesn't outline the price reductions and doesn't mention that the property was once home to Vibrant Vine Winery.

In fact, the only reference to the former winery is as a 7,500-square-foot outbuilding and six acres of vineyard.

The listing admits it's a 'Receiver sale!' complete with exclamation mark, but quickly goes on to say it's an unparalleled and rare opportunity to own a spectacular property in the heart of Southeast Kelowna.

Phrases like 'residential elegance' and 'commercial potential' are thrown around and suggestions for use include private family estate, wedding venue and-or agritourism venture.