Prime Downtown Location - Amazon Simple Storage Service
FOR SALE > VICTORIA OFFICE BUILDING
Prime Downtown Location 595 PANDORA AVENUE, VICTORIA, BC
Contact Us GRAHAM SMITH* +1 250 414 8390 [email protected]
KEN CLOAK +1 250 414 8372 [email protected]
COLLIERS INTERNATIONAL 1175 Douglas Street, Suite 1110 Victoria, BC V8W 2E1 MAIN: +1 250 388 6454 FAX: +1 250 382 3564 www.collierscanada.com/victoria
The Offering 595 Pandora Avenue is a 4 storey office building centrally located in downtown Victoria’s Old Town District, just steps from the southwest corner of Pandora Avenue and Government Street. Constructed in 1987 of steel and concrete with a distinctive brick veneer, the subject property is ideally suited for an owner/ occupier or a developer looking to convert the structure to a retail/residential use. This central downtown area is in close proximity to the popular Government Street retail corridor and is poised to benefit from a significant gentrification and urban makeover in the block. Newly constructed or planned profile developments in the immediate vicinity include The Union, the H.S.N.Y. Benevolent Society, and the Janion redevelopments, as well as the soon to be approved redevelopment of the Northern Junk site.
Location The subject is located on the south side of Pandora Avenue very near the corner at Government Street, immediately adjacent to the Vogue condominium building. The Vogue development comprises the Mountain Equipment Co-op premises on the main floor with 46 condominium units in the upper three floors. In addition to its pivotal location relative to Victoria’s Central Business District, Old Town and Chinatown, 595 Pandora provides downtown view perspectives from the fourth floor which also features ample exterior patio deck possibilities. Notable neighbours include Victoria City Hall, the popular Government Street retail corridor, the McPherson Playhouse, the shops at Market Square, and fashionable Lower Johnson Street (LoJo), as well as Victoria’s renowned Chinatown.
Improvements Constructed in 1987, this four-storey structure was substantially renovated in 2005 to accommodate a Federal Government tenancy which has recently elected to consolidate and relocate to new premises. Upgrades were significant and the improvements remain in excellent condition. The building is constructed
of structural steel, reinforced concrete and brick veneer. The parking garage is on a concrete slab with the main and upper floors featuring steel joist and corrugated steel decking with a concrete topping. The building features full fibre optic connectivity, Cat 6 wiring throughout and all floors are serviced by 2 Dover, 1200 kg. capacity elevators. All floors benefit from ample natural light with windows located on all four sides of the building. Heating and cooling is provided by a Baltimore air coil chiller together with a 33,500 CFM engineered air circulation fan and a 15HP McQuay condenser unit, all of which are located on the main roof. Additional HVAC is provided by way of ceiling mounted heat pumps. There is a 2,500 amp 120/208 volt electrical service to the building.
Area Total Rentable Area of the subject is approximately 43,696 square feet as follows: Main floor: Second floor: Third floor: Fourth floor: Total: Basement Storage:
11,555 square feet 12,583 square feet 12,583 square feet 5,975 square feet 43,696 square feet 466 square feet
FOR SALE > 595 Pandroa Avenue, Victoria, BC
Site The site is of a slightly irregular rectangular configuration and slopes gently from north to south accommodating the under building parking garage. Site size is 23,036 SF according to BCAA records featuring approximately 143 lineal feet of frontage to Pandora Avenue. The site benefits from all municipal services.
Parking There are 29 designated secure under building parking stalls with an additional 3 surface parking stalls located at the rear of the building. There is also under building secure bicycle storage. The rear parking area is accessed via a driveway to the west of the subject property.
Tenancy
Taxes (2013)
The Province of British Columbia currently occupies the entire third floor of the building and approximately half of the fourth floor. Both leases expire Fall 2014. Detailed lease information is available to qualified parties.
$212,529.00
Environmental A Phase I Environmental Site Assessment was completed by E-Pro Enterprises Inc. in October 2009. The recommendation in the report was as follows: “In summation of the assessment’s findings, the probability of subsurface contamination to exist within the bounds of this site is considered low, therefore, a Phase II Environmental Site Assessment is not recommended.”
Zoning CA-12 Zone: Central Area (Government Street) District: Permitting a wide variety of retail, commercial, residential and assembly uses all as permitted in the CA-3 and CA-4 Commercial Districts.
Assessment (2014) Land: Improvements: Total:
$2,753,000.00 $6,928,000.00 $9,681,000.00
Purchase Price
Legal Description
Eight Million, Eight Hundred Thousand Dollars
Lot 1 of Lots 531, 532 & 533, Victoria City, Plan VIP 77724, PID 026-066-637
($8,800,000.00)
FOR SALE > VICTORIA OFFICE BUILDING
Prime Downtown Location 595 PANDORA AVENUE, VICTORIA, BC
Swan’s Hotel The Janion Redevelopment
The Union
HSNY Benevolent Society Redevelopment
GOVERNMENT STREET
Chinatown
McPherson Playhouse
PANDORA AVENUE
Market Square
J O H NS O N
The Vogue / Mountain Equipment Co-op STREET
Contact Us GRAHAM SMITH* +1 250 414 8390 [email protected]
KEN CLOAK +1 250 414 8372 [email protected]
COLLIERS INTERNATIONAL 1175 Douglas Street, Suite 1110 Victoria, BC V8W 2E1 MAIN: +1 250 388 6454 FAX: +1 250 382 3564 www.collierscanada.com/victoria
This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. Colliers International is a worldwide affiliation of independently owned and operated companies. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2012. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls Brokerage Inc. (Victoria). *Personal Real Estate Corporation.
Prime Downtown Location 595 PANDORA AVENUE, VICTORIA, BC
Contact Us GRAHAM SMITH* +1 250 414 8390 [email protected]
KEN CLOAK +1 250 414 8372 [email protected]
COLLIERS INTERNATIONAL 1175 Douglas Street, Suite 1110 Victoria, BC V8W 2E1 MAIN: +1 250 388 6454 FAX: +1 250 382 3564 www.collierscanada.com/victoria
The Offering 595 Pandora Avenue is a 4 storey office building centrally located in downtown Victoria’s Old Town District, just steps from the southwest corner of Pandora Avenue and Government Street. Constructed in 1987 of steel and concrete with a distinctive brick veneer, the subject property is ideally suited for an owner/ occupier or a developer looking to convert the structure to a retail/residential use. This central downtown area is in close proximity to the popular Government Street retail corridor and is poised to benefit from a significant gentrification and urban makeover in the block. Newly constructed or planned profile developments in the immediate vicinity include The Union, the H.S.N.Y. Benevolent Society, and the Janion redevelopments, as well as the soon to be approved redevelopment of the Northern Junk site.
Location The subject is located on the south side of Pandora Avenue very near the corner at Government Street, immediately adjacent to the Vogue condominium building. The Vogue development comprises the Mountain Equipment Co-op premises on the main floor with 46 condominium units in the upper three floors. In addition to its pivotal location relative to Victoria’s Central Business District, Old Town and Chinatown, 595 Pandora provides downtown view perspectives from the fourth floor which also features ample exterior patio deck possibilities. Notable neighbours include Victoria City Hall, the popular Government Street retail corridor, the McPherson Playhouse, the shops at Market Square, and fashionable Lower Johnson Street (LoJo), as well as Victoria’s renowned Chinatown.
Improvements Constructed in 1987, this four-storey structure was substantially renovated in 2005 to accommodate a Federal Government tenancy which has recently elected to consolidate and relocate to new premises. Upgrades were significant and the improvements remain in excellent condition. The building is constructed
of structural steel, reinforced concrete and brick veneer. The parking garage is on a concrete slab with the main and upper floors featuring steel joist and corrugated steel decking with a concrete topping. The building features full fibre optic connectivity, Cat 6 wiring throughout and all floors are serviced by 2 Dover, 1200 kg. capacity elevators. All floors benefit from ample natural light with windows located on all four sides of the building. Heating and cooling is provided by a Baltimore air coil chiller together with a 33,500 CFM engineered air circulation fan and a 15HP McQuay condenser unit, all of which are located on the main roof. Additional HVAC is provided by way of ceiling mounted heat pumps. There is a 2,500 amp 120/208 volt electrical service to the building.
Area Total Rentable Area of the subject is approximately 43,696 square feet as follows: Main floor: Second floor: Third floor: Fourth floor: Total: Basement Storage:
11,555 square feet 12,583 square feet 12,583 square feet 5,975 square feet 43,696 square feet 466 square feet
FOR SALE > 595 Pandroa Avenue, Victoria, BC
Site The site is of a slightly irregular rectangular configuration and slopes gently from north to south accommodating the under building parking garage. Site size is 23,036 SF according to BCAA records featuring approximately 143 lineal feet of frontage to Pandora Avenue. The site benefits from all municipal services.
Parking There are 29 designated secure under building parking stalls with an additional 3 surface parking stalls located at the rear of the building. There is also under building secure bicycle storage. The rear parking area is accessed via a driveway to the west of the subject property.
Tenancy
Taxes (2013)
The Province of British Columbia currently occupies the entire third floor of the building and approximately half of the fourth floor. Both leases expire Fall 2014. Detailed lease information is available to qualified parties.
$212,529.00
Environmental A Phase I Environmental Site Assessment was completed by E-Pro Enterprises Inc. in October 2009. The recommendation in the report was as follows: “In summation of the assessment’s findings, the probability of subsurface contamination to exist within the bounds of this site is considered low, therefore, a Phase II Environmental Site Assessment is not recommended.”
Zoning CA-12 Zone: Central Area (Government Street) District: Permitting a wide variety of retail, commercial, residential and assembly uses all as permitted in the CA-3 and CA-4 Commercial Districts.
Assessment (2014) Land: Improvements: Total:
$2,753,000.00 $6,928,000.00 $9,681,000.00
Purchase Price
Legal Description
Eight Million, Eight Hundred Thousand Dollars
Lot 1 of Lots 531, 532 & 533, Victoria City, Plan VIP 77724, PID 026-066-637
($8,800,000.00)
FOR SALE > VICTORIA OFFICE BUILDING
Prime Downtown Location 595 PANDORA AVENUE, VICTORIA, BC
Swan’s Hotel The Janion Redevelopment
The Union
HSNY Benevolent Society Redevelopment
GOVERNMENT STREET
Chinatown
McPherson Playhouse
PANDORA AVENUE
Market Square
J O H NS O N
The Vogue / Mountain Equipment Co-op STREET
Contact Us GRAHAM SMITH* +1 250 414 8390 [email protected]
KEN CLOAK +1 250 414 8372 [email protected]
COLLIERS INTERNATIONAL 1175 Douglas Street, Suite 1110 Victoria, BC V8W 2E1 MAIN: +1 250 388 6454 FAX: +1 250 382 3564 www.collierscanada.com/victoria
This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. Colliers International is a worldwide affiliation of independently owned and operated companies. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2012. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls Brokerage Inc. (Victoria). *Personal Real Estate Corporation.
