The British Columbia Assessment Authority has unveiled its 2026 list of the province's most valuable properties, and among the elite rankings are four spectacular private islands. These secluded parcels of land, scattered along the picturesque B.C. coast, represent some of the most exclusive and expensive real estate in the region.
James Island: A Billionaire's Retreat with a Explosive Past
Topping the list of island properties is James Island, valued at a staggering $57,096,000. This places it as the third most valuable property overall in British Columbia. Located in the Haro Strait between Saanich and Sidney Island, the island is owned by a company controlled by Seattle-based telecom billionaire Craig McCaw.
McCaw purchased the island, which is comparable in size to Vancouver's Stanley Park, back in 1994 for $26 million. Since then, he has transformed it with significant additions including private residences, an airstrip, yacht moorage, and a personal golf course. The assessed value includes an estimated $10 million worth of buildings on the site.
The island's history is as dramatic as its valuation. Between 1910 and the 1970s, it was the site of a major explosives plant that produced vast quantities of TNT for both World Wars. At its peak, a village of 800 people existed on the island. In a modern legal challenge, the 900-member Tsawout First Nation sued governments in 2018, claiming the island under the terms of the 1852 Douglas Treaties.
Samuel, Forrest, and Subtle Islands: Exclusive Coastal Havens
The second most valuable island on the list is Samuel Island, ranked as the 94th most valuable property in B.C. with an assessed value of $19,209,000. This 190-hectare, heavily forested island sits east of Mayne Island. It is currently owned by the Washington state-based Saturna Island Associates Inc., which purchased it in 2003 for $9.21 million.
According to realtor Li Read, the island has had notable past owners including developer A.J.T. Taylor and grocery magnate George Weston. An intriguing piece of local history reveals there was once a short-lived plan in the 1960s to connect Mayne and Saturna Islands with a bridge via Samuel Island.
Forrest Island, located off the coast of Sidney, is valued at $13.7 million, making it the 306th most valuable property in the province. The 21-hectare island is owned by Forrest Island Ranch Ltd., with James W. Sievers listed as its sole director. The property, purchased in 2002 for $7.1 million, features one large home and a substantial man-made harbour, as visible on satellite imagery.
Rounding out the list are the Subtle Islands, valued at $12,439,000 (ranked 419th). This 30-hectare property in the northern Georgia Strait, west of Cortez Island, is owned by a company controlled by Andrew Booth, the CFO of the prominent Vancouver-based biotech firm AbCellera. The islands were bought for $18.3 million in 2021 and boast a sprawling 13,000-square-foot home valued at nearly $9 million.
What the Valuations Reveal About B.C.'s Luxury Market
The release of these assessments provides a fascinating glimpse into the high-stakes world of ultra-luxury real estate in British Columbia. These islands are not just homes; they are private ecosystems and legacy investments for some of North America's wealthiest individuals.
The valuations reflect more than just land and structures; they encompass unparalleled privacy, breathtaking natural beauty, and a lifestyle of extreme exclusivity. While the overall Lower Mainland real estate market has seen fluctuations, these unique offshore properties continue to hold and increase their value, representing a distinct and resilient segment of B.C.'s property landscape.
The history intertwined with these islands—from wartime industry to Indigenous land claims—adds layers of complexity to their stories, proving that their value is measured in more than just dollars and cents.
