Partnership. Performance.
Rare Investment/Reposition Opportunity in Edgemont Village, North Vancouver
Terry Thies*, Principal 604.646.8398
[email protected] * Personal Real Estate Corporation
Ian Whitchelo*, Vice-President 604.647.5095
[email protected] * Personal Real Estate Corporation
Mehdi Shokri, Principal 604.647.1355
[email protected] 1050
WEST QUEENS RD. NORTH VANCOUVER, BC
1050
WEST QUEENS ROAD NORTH VANCOUVER, BC
Property Details
Opportunity
Municipal Address
-- Rare opportunity to buy a property with value add or redevelopment potential.
1050 West Queens Road, North Vancouver, BC
Legal Description PL VAP6659 LT A BLK 40 DL 598 LD 36
PID 010-862-862
Zoning C2 - General Commercial Zone 2
Land Use Designation Commercial Residential Mixed-Use
Potential Floor Space Ratio (FSR) 1.75 FSR
-- Under the recently completed Edgemont Refresh Community Plan, 1050 West Queens Road falls under Commercial Residential Mixed-Use user designation that allows up to a maximum of three storeys at a 1.75 floor space ratio. -- Edgemont Village’s Edgemont Refresh community plan and several new commercial and residential developments will enhance the already vibrant commercial district.
Location & Salient Details -- The subject property is situated in Edgemont Village, at the corner of West Queens Road and Newmarket Drive. -- Located at the base of Grouse Mountain, Edgemont Village is a community hub for nearby residential neighbourhoods, and it is also an outdoor shopping district.
Lot Size
-- Surrounded by new developments, such as the Edgemont Commons, the Grosvenor’s mixed-use project and Edgemont Senior Living.
6,783 sf*
-- Easy access to the Trans-Canada Highway, only a 6-minute drive.
Existing Building Size
-- Notable tenants in the area include Starbucks, RBC Royal Bank, HSBC Bank, Bank of Montreal, David’s Tea, Windsor Meat Co, and Rocky Mountain Chocolate Factory
1,725 sf*
Potential Buildable Area Up to 1.75 x lot size
Property Tax $38,077.75 (2015)
Sale Price $2,600,000 *To be confirmed by purchaser
Demographics Estimates and projections
1 km
3 km
5 km
2013 population
7,252
67,725
126,128
2016 population
7,432
69,277
128,735
2013 daytime population
5,869
62,323
119,307
2013 persons per square km
2,081
Population change (2011–2013)
1.6%
2.0%
1.8%
Population change (2013–2016)
0.8%
2.3%
2.1%
2013 avg. household income
$147,865
$108,560
$106,096
2016 avg. household income
$166,334
$120,872
$118,022
Restaurant expenditures
$8,520,182
$77,208,623
$143,424,124
Recreation Expenditures
$7,383,564
$61,601,254
$115,216,798
Dominant age group Median age
50 - 54 years 42.9 49% male, 51% female
Edgemont Village Planning Initiatives & New Development -- Recently completed, the Edgemont Refresh community plan administers the development guidelines that are directed at improving the environment of the Edgemont Village neighbourhood. Two blocks have been designated for Low Density Apartment land also featuring a density of up to 1.75 FSR. Furthermore, two blocks of land have been designated for institutional usage. -- With incredible architecture, Edgemont Commons is a signature development in Edgemont Village located just behind the Subject Property. The ground floor is occupied by Blue Shore Financial and features additional food, retail and service space. Located in a contemporary outdoor setting, the upper levels feature additional retail, services and office spaces. -- Soon to be the largest building in Edgemont Village, Grosvenor’s mixed-use project proposes 65, 000 sf of commercial space and over 100, 000 sf of residential space. Anchored by Thrifty Foods, the space will also boast 213 free underground parking stalls. Upon completion, the Grosvenor Edgemont Project will be a landmark development in the enhancement of Edgemont – transforming the community into a vibrant commercial epicentre.
Surrounding Amenities and Retailers 10 20
8
9 7
6
5 4 2
13
11 12
14
3
1 Subject Property 1050 W Queens Road
15 16
17 19 18
1 2 3 4 5 6 7 8 9 10
North Vancouver District Public Library Starbucks Edgemont Gourmet Meats The Canyon RBC Royal Bank HSBC Bank Nobu Japanese Sushi Vancouver Waldorf High School TD Canada Trust Grosvenor Development
11 12 13 14 15 16 17 18 19 20
David’s Tea The Meatery Edgemont Village Dental Centre Caffe Artigiano Bank of Montreal Coco Froyo Edgemont Village Wines Columbus Farm Market Blue Shore Financial Future Senior Living Development
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* Personal Real Estate Corporation
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Ian Whitchelo*, Vice-President 604.647.5095 MacKenzie Heights
[email protected] Quilchena
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* Personal Real Estate Corporation
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