FOR SALE - Form Retail
FOR SALE
FOR SALE
KITSILANO DEVELOPMENT OPPORTUNITY 2601 W BROADWAY | VANCOUVER, BC
KITSILANO DEVELOPMENT OPPORTUNITY 2601 W BROADWAY | VANCOUVER, BC
DOWNTOWN VANCOUVER
STANLEY PARK
OLYMPIC VILLAGE
Burrard Street Bridge
Granville Street Bridge
Granville
KITSILANO BEACH
st We
Burrard
4th
Street
Street
ue
n Ave
SUBJECT SITE
e
nu
th
ay
dw
roa
B st We
W
e Av
12
Connaught Park
M
ac
do
na
ld
St re
et Kitsilano Secondary School
an
il its
K
FORM RETAIL ADVISORS INC.
on
rsi
ve
i oD
JOE GENEST
604 398 4341 [email protected] *Personal Real Estate Corporation
JON BUCKLEY*
604 630 0215 [email protected]
FOR SALE
KITSILANO DEVELOPMENT OPPORTUNITY 2601 W BROADWAY | VANCOUVER, BC
PROPERTY HIGHLIGHTS
An exceptionally rare Westside redevelopment opportunity situated along the Broadway Corridor, the busiest transit corridor in North America.
LOCATION • • •
• VANCOUVER INTERNATIONAL AIRPORT
Pacific Spirit Regional Park & UBC Endowment Lands
UBC
DEVELOPMENT POTENTIAL
Carnarvon Park Alma
•
Stree t
•
Kitsilano Secondary School
• •
Ma
cdo
na
ld
et
B st
ay
dw
a ro
Str e
Highly desirable Westside address at northwest corner of West Broadway and Trafalgar Street Two blocks east from Safeway and Vancouver Public Library One block north from Kitsilano Secondary School & ten minute drive to University of British Columbia (“UBC”) Seven minute drive to Kitsilano Beach Park (Ranked top 3 beaches in North America by Forbes Magazine in 2009) Ten minute drive to Downtown Vancouver
e W
th W es
t4
Connaught Park
Av e
nu
e
SUBJECT SITE
C-2C1 zoning allowing variety of uses including retail, office and residential Permitted density up to 3.0 FSR and 4-storeys Shared access easement with adjacent strata building underground parking driveway; crane boom swing and underpinning/shoring easements also registered on title
TRANSIT • • •
FORM RETAIL ADVISORS INC.
Broadway Corridor is the busiest transit corridor in North America Future Broadway Line becoming a reality with new Federal budget funding Phase 1 of the Broadway Line would connect VCCClark to Arbutus Street; subsequent phases to extend all the way to UBC
FOR SALE
KITSILANO DEVELOPMENT OPPORTUNITY 2601 W BROADWAY | VANCOUVER, BC
SUBJECT SITE
Trafalgar Street
MUNICIPAL ADDRESS
2601 W Broadway, Vancouver, British Columbia
PID
015-122-298
LEGAL DESCRIPTION
Lot 8, Except (A) Part in Explanatory Plan 4265 and (B) Part in Plan 4167, Block 19 District Lot 192 Plan 774
LOCATION
Northwest corner of West Broadway and Trafalgar Street
SITE SIZE
Approximately 7,844 SF
SITE DIMENSIONS
74 feet of frontage along West Broadway 106 feet of depth along Trafalgar Street
CURRENT IMPROVEMENTS
The Property is currently improved with a freestanding, single-tenant Dairy Queen restaurant constructed circa 1971
BUILDING AREA
2,432 SF
PARKING
10 parking stalls; one loading stall
TRAFFIC COUNTS
21,013 VPD along West Broadway
ZONING
C-2C1 Commercial; this allows for a wide range of uses including retail, office and residential
PERMITTED DENSITY
• • • •
FINANCING
Available Clear Title
PROPERTY TAXES (2015)
$67,241.64
LEASE SUMMARY
Basic Rent: $70,000 Years 1-10 Lease Term: April 1, 2011 - March 31, 2021 Renewal Options: NIL
OFFERING PROCESS
Managed Bid Process - Please contact Agent for details
West Broadway
FORM RETAIL ADVISORS INC.
1.20 FSR (9,413 Buildable SF) for Office Uses 1.50 FSR (11,766 Buildable SF) for Residential Uses 3.00 FSR (23,532 Buildable SF) for All Other Uses Maximum height of 45.3 feet, with approval from Director of Planning
FOR SALE
KITSILANO DEVELOPMENT OPPORTUNITY 2601 W BROADWAY | VANCOUVER, BC
MARKET OVERVIEW The highly coveted neighbourhood of Kitsilano, located between the affluent areas of West Point Grey and Fairview in Vancouver’s Westside, is home to a relatively wealthy and young population with average household incomes of approximately $94,000. Kitsilano is a mostly residential area with West Broadway and West 4th Avenue being the two main commercial arterials. The benchmark price for single detached homes in Vancouver’s Westside is approximately $3,003,800 (February, 2016). BROADWAY CORRIDOR The Property is located along the Broadway Corridor, North America’s busiest - and the local region’s most important - transit corridor with over 100,000 weekday passenger trips. The Broadway Corridor connects transit passengers from Central Broadway Station and UBC (via 99 B-Line), the two most important transit destinations in the region. TransLink mayor’s council have identified the Broadway Corridor as a transit corridor that requires immediate funding for a new rapid transit line. The Liberal Party of Canada recently announced their first Federal budget on March 22, 2016. Within this budget, the federal government has announced an initial commitment of $3.4 billion, spread over three years, for transit improvement across Canada. From this preliminary round of funding, British Columbia will receive $460.5 million of which $370 million will be attributed to Metro Vancouver. The initial round of transit funding is to improve existing infrastructure and to go towards planning and preconstruction designs of transit projects such as the UBC-Broadway Line and Light Rail Transit in Surrey.
•
UBC-Broadway Corridor is the 2nd largest business and innovation centre in BC
•
Located in Vancouver’s Westside, home to some of the most expensive housing in Metro Vancouver
•
UBC is projected to see a daytime population of 87,000 people by 2041
•
Continued development around existing transit nodes along Broadway and on Musqueam lands will drive significant growth in this Corridor
•
Projected increase of 150,000 people within the next 3 years that will work and live within the UBCBroadway Corridor
DOWNTOWN VANCOUVER
PROPOSED RAPID TRANSIT STATION EXISTING BUS STATION FOR UBC EXPRESS
KITSILANO BEACH
UBC - BROADWAY CORRIDOR
ard Burr
et Stre
ge
Brid
Cornwall Avenue
Point Grey
Road
Stree Alma
Macdonald Street
reet
FORM RETAIL ADVISORS INC.
ille St
West Broadway
Granv
SUBJECT SITE
Street Burrard
TO UBC
Arbutus Street
t
West 4th Avenue
SALE FORFOR SALE
KITSILANO DEVELOPMENT OPPORTUNITY 2601 W BROADWAY | VANCOUVER, BC
KITSILANO DEVELOPMENT DOWNTOWN VANCOUVER
STANLEY PARK Burrard Street Bridge
OPPORTUNITY OLYMPIC VILLAGE BC 2601 W BROADWAY | VANCOUVER, Granville Street Bridge
Granville
KITSILANO BEACH
st We
Burrard
4th
Street
Street
ue
n Ave
SUBJECT SITE
e
nu
th
st We
W
y wa
e Av
12
ad
Bro
Connaught Park
M
ac
do
na
ld
St re
et Kitsilano Secondary School
2015 ESTIMATES
ive
oD
t
an sil
Ki
FORM RETAIL ADVISORS INC. 1280-333 SEYMOUR STREET VANCOUVER, BC V6B 5A6 T 604 638 2121 F 604 638 2122 FORMRETAIL.CA The information contained herein was obtained from sources which we deem reliable and while thought to be correct, are not guaranteed by Form Retail Advisors inc.
FORM RETAIL ADVISORS INC.
on rsi
1 KM
3 KM
5 KM
10 MIN DRIVE
Population
24,368
126,587
297,919
287,228
Households
12,997
65,478
154,163
150,019
Average Household Income
$94,096
$105,308
$98,023
$97,240
FOR SALE
KITSILANO DEVELOPMENT OPPORTUNITY 2601 W BROADWAY | VANCOUVER, BC
KITSILANO DEVELOPMENT OPPORTUNITY 2601 W BROADWAY | VANCOUVER, BC
DOWNTOWN VANCOUVER
STANLEY PARK
OLYMPIC VILLAGE
Burrard Street Bridge
Granville Street Bridge
Granville
KITSILANO BEACH
st We
Burrard
4th
Street
Street
ue
n Ave
SUBJECT SITE
e
nu
th
ay
dw
roa
B st We
W
e Av
12
Connaught Park
M
ac
do
na
ld
St re
et Kitsilano Secondary School
an
il its
K
FORM RETAIL ADVISORS INC.
on
rsi
ve
i oD
JOE GENEST
604 398 4341 [email protected] *Personal Real Estate Corporation
JON BUCKLEY*
604 630 0215 [email protected]
FOR SALE
KITSILANO DEVELOPMENT OPPORTUNITY 2601 W BROADWAY | VANCOUVER, BC
PROPERTY HIGHLIGHTS
An exceptionally rare Westside redevelopment opportunity situated along the Broadway Corridor, the busiest transit corridor in North America.
LOCATION • • •
• VANCOUVER INTERNATIONAL AIRPORT
Pacific Spirit Regional Park & UBC Endowment Lands
UBC
DEVELOPMENT POTENTIAL
Carnarvon Park Alma
•
Stree t
•
Kitsilano Secondary School
• •
Ma
cdo
na
ld
et
B st
ay
dw
a ro
Str e
Highly desirable Westside address at northwest corner of West Broadway and Trafalgar Street Two blocks east from Safeway and Vancouver Public Library One block north from Kitsilano Secondary School & ten minute drive to University of British Columbia (“UBC”) Seven minute drive to Kitsilano Beach Park (Ranked top 3 beaches in North America by Forbes Magazine in 2009) Ten minute drive to Downtown Vancouver
e W
th W es
t4
Connaught Park
Av e
nu
e
SUBJECT SITE
C-2C1 zoning allowing variety of uses including retail, office and residential Permitted density up to 3.0 FSR and 4-storeys Shared access easement with adjacent strata building underground parking driveway; crane boom swing and underpinning/shoring easements also registered on title
TRANSIT • • •
FORM RETAIL ADVISORS INC.
Broadway Corridor is the busiest transit corridor in North America Future Broadway Line becoming a reality with new Federal budget funding Phase 1 of the Broadway Line would connect VCCClark to Arbutus Street; subsequent phases to extend all the way to UBC
FOR SALE
KITSILANO DEVELOPMENT OPPORTUNITY 2601 W BROADWAY | VANCOUVER, BC
SUBJECT SITE
Trafalgar Street
MUNICIPAL ADDRESS
2601 W Broadway, Vancouver, British Columbia
PID
015-122-298
LEGAL DESCRIPTION
Lot 8, Except (A) Part in Explanatory Plan 4265 and (B) Part in Plan 4167, Block 19 District Lot 192 Plan 774
LOCATION
Northwest corner of West Broadway and Trafalgar Street
SITE SIZE
Approximately 7,844 SF
SITE DIMENSIONS
74 feet of frontage along West Broadway 106 feet of depth along Trafalgar Street
CURRENT IMPROVEMENTS
The Property is currently improved with a freestanding, single-tenant Dairy Queen restaurant constructed circa 1971
BUILDING AREA
2,432 SF
PARKING
10 parking stalls; one loading stall
TRAFFIC COUNTS
21,013 VPD along West Broadway
ZONING
C-2C1 Commercial; this allows for a wide range of uses including retail, office and residential
PERMITTED DENSITY
• • • •
FINANCING
Available Clear Title
PROPERTY TAXES (2015)
$67,241.64
LEASE SUMMARY
Basic Rent: $70,000 Years 1-10 Lease Term: April 1, 2011 - March 31, 2021 Renewal Options: NIL
OFFERING PROCESS
Managed Bid Process - Please contact Agent for details
West Broadway
FORM RETAIL ADVISORS INC.
1.20 FSR (9,413 Buildable SF) for Office Uses 1.50 FSR (11,766 Buildable SF) for Residential Uses 3.00 FSR (23,532 Buildable SF) for All Other Uses Maximum height of 45.3 feet, with approval from Director of Planning
FOR SALE
KITSILANO DEVELOPMENT OPPORTUNITY 2601 W BROADWAY | VANCOUVER, BC
MARKET OVERVIEW The highly coveted neighbourhood of Kitsilano, located between the affluent areas of West Point Grey and Fairview in Vancouver’s Westside, is home to a relatively wealthy and young population with average household incomes of approximately $94,000. Kitsilano is a mostly residential area with West Broadway and West 4th Avenue being the two main commercial arterials. The benchmark price for single detached homes in Vancouver’s Westside is approximately $3,003,800 (February, 2016). BROADWAY CORRIDOR The Property is located along the Broadway Corridor, North America’s busiest - and the local region’s most important - transit corridor with over 100,000 weekday passenger trips. The Broadway Corridor connects transit passengers from Central Broadway Station and UBC (via 99 B-Line), the two most important transit destinations in the region. TransLink mayor’s council have identified the Broadway Corridor as a transit corridor that requires immediate funding for a new rapid transit line. The Liberal Party of Canada recently announced their first Federal budget on March 22, 2016. Within this budget, the federal government has announced an initial commitment of $3.4 billion, spread over three years, for transit improvement across Canada. From this preliminary round of funding, British Columbia will receive $460.5 million of which $370 million will be attributed to Metro Vancouver. The initial round of transit funding is to improve existing infrastructure and to go towards planning and preconstruction designs of transit projects such as the UBC-Broadway Line and Light Rail Transit in Surrey.
•
UBC-Broadway Corridor is the 2nd largest business and innovation centre in BC
•
Located in Vancouver’s Westside, home to some of the most expensive housing in Metro Vancouver
•
UBC is projected to see a daytime population of 87,000 people by 2041
•
Continued development around existing transit nodes along Broadway and on Musqueam lands will drive significant growth in this Corridor
•
Projected increase of 150,000 people within the next 3 years that will work and live within the UBCBroadway Corridor
DOWNTOWN VANCOUVER
PROPOSED RAPID TRANSIT STATION EXISTING BUS STATION FOR UBC EXPRESS
KITSILANO BEACH
UBC - BROADWAY CORRIDOR
ard Burr
et Stre
ge
Brid
Cornwall Avenue
Point Grey
Road
Stree Alma
Macdonald Street
reet
FORM RETAIL ADVISORS INC.
ille St
West Broadway
Granv
SUBJECT SITE
Street Burrard
TO UBC
Arbutus Street
t
West 4th Avenue
SALE FORFOR SALE
KITSILANO DEVELOPMENT OPPORTUNITY 2601 W BROADWAY | VANCOUVER, BC
KITSILANO DEVELOPMENT DOWNTOWN VANCOUVER
STANLEY PARK Burrard Street Bridge
OPPORTUNITY OLYMPIC VILLAGE BC 2601 W BROADWAY | VANCOUVER, Granville Street Bridge
Granville
KITSILANO BEACH
st We
Burrard
4th
Street
Street
ue
n Ave
SUBJECT SITE
e
nu
th
st We
W
y wa
e Av
12
ad
Bro
Connaught Park
M
ac
do
na
ld
St re
et Kitsilano Secondary School
2015 ESTIMATES
ive
oD
t
an sil
Ki
FORM RETAIL ADVISORS INC. 1280-333 SEYMOUR STREET VANCOUVER, BC V6B 5A6 T 604 638 2121 F 604 638 2122 FORMRETAIL.CA The information contained herein was obtained from sources which we deem reliable and while thought to be correct, are not guaranteed by Form Retail Advisors inc.
FORM RETAIL ADVISORS INC.
on rsi
1 KM
3 KM
5 KM
10 MIN DRIVE
Population
24,368
126,587
297,919
287,228
Households
12,997
65,478
154,163
150,019
Average Household Income
$94,096
$105,308
$98,023
$97,240
