Edinburgh Place MATTERS
FOR O
SIXTH FLOOR
Edinburgh Place 900 6th Avenue SW, Calgary, AB
Ideal Downtown West-end location. Built out office opportunity on the sixth floor ideal for an owner user. BUY VS. LEASE ANALYSIS COST TO BUY
COST TO LEASE
$26.88/sf per year
$34.62/sf per year
For complete Buy vs. Lease Analysis see the last page of this brochure.
FOR MORE INFORMATION OR TO VIEW, PLEASE CONTACT:
LOCAL EXPERTISE
MATTERS
Dan Harmsen • [email protected] Jace Jonsson (unlicensed assistant) • [email protected] p: 403.290.0178 f: 403.262.1314 Suite 200, 407 - 8th Avenue SW . Calgary, Alberta T2P 1E5
www.barclaystreet.com
EDINBURGH PLACE 6th Floor, 900–6TH Avenue SW, Calgary, AB
PROPERTY INFORMATION The property is improved with one ten storey, multi tenant condominium titled office building constructed circa 1980 by Kenosee Park Investments. Upon completion, the nine storey commercial building was divided into 9 units and was registered under the Condominium Property Act. The building has been constructed using a structural steel and reinforced concrete frame behind a clay brick and glass façade. The building is serviced by two elevators and there are 10 surface parking spaces available. Each condominium floor has been allotted one stall. All floors also contain in-floor washrooms. Common property and common expenses are administered by the corporation through the board of managers and the professional property manager, Montgomery Ross & Associates.
THE SITE:
The site is regular in shape providing for 50 feet of frontage along the North side of 6th Avenue S.W. and 120 feet of frontage along the West side of 8th Street S.W. resulting in a gross site area of 6,160 square feet. ZONING:
CM-2 ASSESSED VALUE:
Unit 5: $1,500,000
600, 900 - 6th Avenue SW
UNIT SIZE:
LEGAL DESCRIPTION:
The building was measured according to BOMA 1989 standard measuring guidelines in 2007 and has a gross floor area of 5,810 square feet. Rentable area deducts for the major vertical penetration (elevators, emergency staircases and ducting). The approximate rentable area for each floor is 5,198 square feet.
Condominium Plan 8011160, Unit 5 and 1169 undivided one ten thousandth shares in the common property excepting thereout all mines and minerals
LOCATION
TITLE:
The Building is ideally situated in the West end of Calgary’s Downtown core on the northeast corner of 6th Avenue and 8th Street South West. 6th Avenue S.W. is a major one-way thoroughfare that accommodates the majority of westbound traffic flow out of the central business district. 8th Street S.W. is a oneway Northbound artery which extends all the way to 3rd Avenue, the Northern perimeter of the West end of the Downtown core. A five-minute walk to the Bow River, Edinburgh Place is strategically located for easy access by car or the LRT.
Treat as clear title.
PARKING
SECURITY:
In addition to one on-site titled parking stall per floor, there are numerous facilities in the area providing ample parking.
CIVIC ADDRESS:
GROSS FLOOR AREA:
5,810 square feet per floor
OPERATING COSTS:
YEAR BUILT:
Condominium fees of $5,810 per floor are paid monthly to the property management company. The current janitorial contract charges $500 per month for each floor. Real estate taxes for 2009 are $16,933.
1980 2014 PROPERTY TAX:
MECHANICAL:
CONDO FEES:
Vertical HVAC is controlled on a floor by floor basis allowing the owner to determine desired HVAC hours.
PARKING:
There is an intercom outside the main door with access after hours. Elevators can be locked on each floor and is controlled via key access.
$19,614.01 per year
$5,810 per month
One stall PRICE/ SQ.FT.:
$258 PRICE:
$1,500,000
Elevator Lobby. Main Floor
STORAGE
* not to scale
RECEPTION KITCHEN
SERVER
MEN’S
MECHANICAL
WOMAN’S
The sixth floor space has been used very efficiently and consists of a large open concept reception, a lunchroom/kitchen area located directly in front of the elevator exits, six classrooms/five offices and two large storage rooms.
The following analysis is based on the cost of leasing a similar downtown property and the resulting dollar value one could afford to buy based on the monthly costs.
BUY VS. LEASE ANALYSIS COST TO BUY
COST TO LEASE CAPITAL COST
INTEREST RATE
ANNUAL COST
PROPERTY
BASE RENT
TAXES & OP. COSTS
TOTAL (per sq. ft.)
ANNUAL COST
$18.00
$16.00
$34.00
$197,540
1 stall
$300/ month
Purchase Price
$1,500,000
New First Mortgage*
$1,125,000
@ 4.00%
$81,807.36
$375,000
@ 6.00%
$22,500
Comparable “B” Class Beltline Property
$69,720
Parking
Cash to Close ** Operating Cost
$5,810/Month
Parking Costs
Nil
Total Annual Real Estate Costs
$193,641.36
Total annual real estate costs less first year principle repayment of $26,333.16
$156,158.14
Total Costs (per sq. ft.) Principal Repayment on First Mortgage over five years
$26.88
Total Annual Real Estate Costs
$201,140
Total Lease Cost (per sq. ft.)
$34.62
* 75% financing, 20-year amortization, 4% interest rate **Assumed that cash to close could earn 6% in another investment
$203,322.35
Mewata Station
W
Proposed Genco Tower
U of C Downtown Campus
The information contained herein has been gathered from sources deemed reliable, but is not warranted as such and does not form any part of any future contract. This offering may be altered or withdrawn at any time without notice.
FOR MORE INFORMATION OR TO VIEW, PLEASE CONTACT:
LOCAL EXPERTISE
MATTERS
$3,600
Dan Harmsen • [email protected] Jace Jonsson (unlicensed assistant) • [email protected] p: 403.290.0178 f: 403.262.1314 Suite 200, 407 - 8th Avenue SW . Calgary, Alberta T2P 1E5
www.barclaystreet.com
SIXTH FLOOR
Edinburgh Place 900 6th Avenue SW, Calgary, AB
Ideal Downtown West-end location. Built out office opportunity on the sixth floor ideal for an owner user. BUY VS. LEASE ANALYSIS COST TO BUY
COST TO LEASE
$26.88/sf per year
$34.62/sf per year
For complete Buy vs. Lease Analysis see the last page of this brochure.
FOR MORE INFORMATION OR TO VIEW, PLEASE CONTACT:
LOCAL EXPERTISE
MATTERS
Dan Harmsen • [email protected] Jace Jonsson (unlicensed assistant) • [email protected] p: 403.290.0178 f: 403.262.1314 Suite 200, 407 - 8th Avenue SW . Calgary, Alberta T2P 1E5
www.barclaystreet.com
EDINBURGH PLACE 6th Floor, 900–6TH Avenue SW, Calgary, AB
PROPERTY INFORMATION The property is improved with one ten storey, multi tenant condominium titled office building constructed circa 1980 by Kenosee Park Investments. Upon completion, the nine storey commercial building was divided into 9 units and was registered under the Condominium Property Act. The building has been constructed using a structural steel and reinforced concrete frame behind a clay brick and glass façade. The building is serviced by two elevators and there are 10 surface parking spaces available. Each condominium floor has been allotted one stall. All floors also contain in-floor washrooms. Common property and common expenses are administered by the corporation through the board of managers and the professional property manager, Montgomery Ross & Associates.
THE SITE:
The site is regular in shape providing for 50 feet of frontage along the North side of 6th Avenue S.W. and 120 feet of frontage along the West side of 8th Street S.W. resulting in a gross site area of 6,160 square feet. ZONING:
CM-2 ASSESSED VALUE:
Unit 5: $1,500,000
600, 900 - 6th Avenue SW
UNIT SIZE:
LEGAL DESCRIPTION:
The building was measured according to BOMA 1989 standard measuring guidelines in 2007 and has a gross floor area of 5,810 square feet. Rentable area deducts for the major vertical penetration (elevators, emergency staircases and ducting). The approximate rentable area for each floor is 5,198 square feet.
Condominium Plan 8011160, Unit 5 and 1169 undivided one ten thousandth shares in the common property excepting thereout all mines and minerals
LOCATION
TITLE:
The Building is ideally situated in the West end of Calgary’s Downtown core on the northeast corner of 6th Avenue and 8th Street South West. 6th Avenue S.W. is a major one-way thoroughfare that accommodates the majority of westbound traffic flow out of the central business district. 8th Street S.W. is a oneway Northbound artery which extends all the way to 3rd Avenue, the Northern perimeter of the West end of the Downtown core. A five-minute walk to the Bow River, Edinburgh Place is strategically located for easy access by car or the LRT.
Treat as clear title.
PARKING
SECURITY:
In addition to one on-site titled parking stall per floor, there are numerous facilities in the area providing ample parking.
CIVIC ADDRESS:
GROSS FLOOR AREA:
5,810 square feet per floor
OPERATING COSTS:
YEAR BUILT:
Condominium fees of $5,810 per floor are paid monthly to the property management company. The current janitorial contract charges $500 per month for each floor. Real estate taxes for 2009 are $16,933.
1980 2014 PROPERTY TAX:
MECHANICAL:
CONDO FEES:
Vertical HVAC is controlled on a floor by floor basis allowing the owner to determine desired HVAC hours.
PARKING:
There is an intercom outside the main door with access after hours. Elevators can be locked on each floor and is controlled via key access.
$19,614.01 per year
$5,810 per month
One stall PRICE/ SQ.FT.:
$258 PRICE:
$1,500,000
Elevator Lobby. Main Floor
STORAGE
* not to scale
RECEPTION KITCHEN
SERVER
MEN’S
MECHANICAL
WOMAN’S
The sixth floor space has been used very efficiently and consists of a large open concept reception, a lunchroom/kitchen area located directly in front of the elevator exits, six classrooms/five offices and two large storage rooms.
The following analysis is based on the cost of leasing a similar downtown property and the resulting dollar value one could afford to buy based on the monthly costs.
BUY VS. LEASE ANALYSIS COST TO BUY
COST TO LEASE CAPITAL COST
INTEREST RATE
ANNUAL COST
PROPERTY
BASE RENT
TAXES & OP. COSTS
TOTAL (per sq. ft.)
ANNUAL COST
$18.00
$16.00
$34.00
$197,540
1 stall
$300/ month
Purchase Price
$1,500,000
New First Mortgage*
$1,125,000
@ 4.00%
$81,807.36
$375,000
@ 6.00%
$22,500
Comparable “B” Class Beltline Property
$69,720
Parking
Cash to Close ** Operating Cost
$5,810/Month
Parking Costs
Nil
Total Annual Real Estate Costs
$193,641.36
Total annual real estate costs less first year principle repayment of $26,333.16
$156,158.14
Total Costs (per sq. ft.) Principal Repayment on First Mortgage over five years
$26.88
Total Annual Real Estate Costs
$201,140
Total Lease Cost (per sq. ft.)
$34.62
* 75% financing, 20-year amortization, 4% interest rate **Assumed that cash to close could earn 6% in another investment
$203,322.35
Mewata Station
W
Proposed Genco Tower
U of C Downtown Campus
The information contained herein has been gathered from sources deemed reliable, but is not warranted as such and does not form any part of any future contract. This offering may be altered or withdrawn at any time without notice.
FOR MORE INFORMATION OR TO VIEW, PLEASE CONTACT:
LOCAL EXPERTISE
MATTERS
$3,600
Dan Harmsen • [email protected] Jace Jonsson (unlicensed assistant) • [email protected] p: 403.290.0178 f: 403.262.1314 Suite 200, 407 - 8th Avenue SW . Calgary, Alberta T2P 1E5
www.barclaystreet.com
