Nanaimo's largest shopping centre is up for sale. (File photo/NanaimoNewsNOW)

By NanaimoNewsNOW Staff

new direction

Nanaimo’s Woodgrove Centre up for sale

Apr 9, 2025 | 9:25 AM

NANAIMO — Vancouver Island’s largest mall and Nanaimo’s most lucrative property is for sale.

A listing for Woodgrove Centre appeared online, shortly after a story broke that a Chinese billionaire living in B.C. took to social media to reveal her intentions to buy dozens of Hudson’s Bay locations following the collapse and liquidation of the retail giant.

While no price is listed by commercial real estate firm Colliers, the most recent property evaluation from the BC Assessment Authority values it at $216,013,000.

Entrepreneur Weihong Liu is the board chairwoman of Central Walk, a retail investment company that owns three shopping centres in B.C., including Woodgrove Centre.

Liu purchased Woodgrove in 2020 for an unconfirmed price of approximately $200 million from Ivanhoe Cambridge.

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The listing states Woodgrove Centre sees 5.9 million visitors annually and sits on nearly 67 acres of land, with over 140 stores.

Liu has shared a series of videos on the Chinese social media platform RedNote recently, saying she wants to “restore The Bay to its glory.”

“Knowing that The Bay, this national brand that carries Canada’s history, will collapse, I can’t stand by and watch, you must do your best to do something, to save it, to let the Canadian spirit continue,” Liu said in Mandarin. “Let the young generation in Canada fall in love with The Bay again.”

The City of Nanaimo intends to reshape the Woodgrove area over the next 25 years to make it greener and more family-friendly, with the City stating Liu was aware of their plans.

Woodgrove Centre, a significant service hub, employer and top taxpayer to the City of Nanaimo, first opened in 1981.

The mall underwent a significant expansion and renovation in 2000, followed by its most recent overhaul which was done in 2016, featuring a revamped food court, new washrooms, flooring and lighting among other enhancements.

— With files from The Canadian Press.

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