169 Wyse Road
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CONFIDENTIAL INFORMATION MEMORANDUM 169 WYSE ROAD AN APPROVED 10-STOREY, 80-SUITE MULTI-RESIDENTIAL DEVELOPMENT SITE DARTMOUTH, NOVA SCOTIA CBRE CAPITAL MARKETS ATLANTIC CANADA CBRE LIMITED | EXCLUSIVE AGENT For more information, please contact: CHRIS CARTER Vice President +1 902 492 2085 [email protected] DAVID ZARESKI Greenwood Lane Inc. +1 902 478 4744 [email protected] ANDREW CRANMER Senior Sales Associate +1 902 492 2065 [email protected] CBRE Limited 5855 Spring Garden Road Suite 300 Halifax, NS B3H 4S2 T +1 902 492 2090 F +1 902 492 2091 This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved. Mapping source: Bing. TABLE OF CONTENTS PAGE 4 EXECUTIVE SUMMARY PAGE 6 PROPERTY OVERVIEW PAGE 22 MARKET OVERVIEW PAGE 24 OFFERING PROCESS EXECUTIVE SUMMARY 4 169 WYSE ROAD | DARTMOUTH, NS CBRE CAPITAL MARKETS ATLANTIC CANADA EXECUTIVE SUMMARY OPPORTUNITY CBRE Limited (“CBRE”) is pleased to offer for sale 169 Wyse Road which includes an approved Development Agreement for a 10-storey, 80-suite multi-residential project in Dartmouth, Nova Scotia. Located near the successful Rayna Lane Apartments as well as a new Sobeys-anchored commercial centre, 169 Wyse Road is central to Dartmouth North’s revival. In addition to new development in the area, the property is in proximity to the Metro Transit Hub and Dartmouth Sportsplex on Nantucket Avenue, a number of public schools, Brightwood Gold and Country Club as well as retail and professional services along Wyse Road. The Owners have secured a Development Agreement for 169 Wyse Road which features 80 residential suites, 67 underground parking stalls, and ± 2,000 square feet of retail/commercial space on the ground floor. PRICE $2,150,000 | $26,875 PER SUITE VENDOR 3112771 NOVA SCOTIA LIMITED ADDRESS 169 WYSE ROAD, DARTMOUTH, NS PARCEL NO. PID 00045351 SITE AREA 17,263 SF ZONING DB/DOWNTOWN DISTRICT OFFER PROCESS Interested parties are invited to submit offers using their own form of non-binding Letter of Intent (“LOI”). The LOI should outline the terms for the purchase of the Property, including the following information: 1. Total purchase price; 2. Material terms and conditions of the proposal, including time lines; 3. Names and ownership interests of the beneficial owners of the purchaser; 4. A mailing address, e-mail address and fax number for the delivery of notices. All LOIs must be received by the Vendor’s Advisor (CBRE Limited) at the following address: CBRE Limited 5855 Spring Garden Road, Suite 300 Halifax, Nova Scotia B3H 4S2 Attn: Andrew Cranmer | +1 902 492 2065 DARTMOUTH, NS | 169 WYSE ROAD 5 CBRE CAPITAL MARKETS ATLANTIC CANADA PROPERTY OVERVIEW AERIAL 6 169 WYSE ROAD | DARTMOUTH, NS CBRE CAPITAL MARKETS ATLANTIC CANADA PROPERTY OVERVIEW 169 WYSE ROAD DARTMOUTH, NS | 169 WYSE ROAD 7 CBRE CAPITAL MARKETS ATLANTIC CANADA PROPERTY OVERVIEW HIGHLIGHTS On bus routes 16, 52, Convenient location to 53 & 64 and walking Downtown Halifax and distance to Terminal. transit connections. Near grocery, banks, High profile pharmacy and NSLC outlet. corner location. Available for immediate Protected views of development, not subject Harbour from to HRM Centre Plan. upper levels. Nearby Dartmouth Located a short drive Sportsplex undergoing from Mic Mac Mall and renovations in 2017. Dartmouth Crossing. 8 169 WYSE ROAD | DARTMOUTH, NS CBRE CAPITAL MARKETS ATLANTIC CANADA PROPERTY OVERVIEW RENDERING LOOKING NORTH DARTMOUTH, NS | 169 WYSE ROAD 9 CBRE CAPITAL MARKETS ATLANTIC CANADA PROPERTY OVERVIEW HIGHLIGHTS CBRE Limited (“CBRE”) is pleased to offer for sale 169 Wyse Road which includes an approved Development Agreement for a 10-storey, 80-suite multi-residential property in Dartmouth, Nova Scotia. The project includes town houses, a mix of apartment units and commercial spaces. The municipality has undertaken significant investments with the transit hub and the Dartmouth Sportsplex, Sobeys has invested in the area with a new format store a short walk from 169 Wyse Road and private developers are active in the area including new residential on the corner of Wyse and Boland. 169 Wyse Road is: • Strategically located a short drive from Mic Mac Mall and Dartmouth Crossing, and a short walk from grocery stores, an NSLC store, banks, pharmacies and a wide range of restaurants, professional services and public transit. • Located near amenities including public schools, the Dartmouth Commons Park, Brightwood Golf and Country Club as well as the Dartmouth Sportsplex which is currently undergoing a major renovation. • Available for immediate development as there is an approved Development Agreement in place. Developers can ensure an uninterrupted pipeline as the development is not subject to the current Centre Plan review process. DEVELOPMENT AGREEMENT The Owner has secured a Development Agreement with the City of Halifax (case 19500) for the property. The Municipality has the right to discharge the Development Agreement if after five years from registration the development has not been completed. The Development Agreement, to be assigned to the purchaser on Closing, provides for the following development: • Residential units to a maximum of 80 units • 8 townhouse units with a minimum of two-bedrooms each • Units ranging from 436 sq. ft. to 2,019 sq. ft. • With one unit under 500 sq. ft. the average unit size is ± 817 sq. ft. • Excluding the ± 3,000 sq. ft. of common balconies, the average private balcony is ± 118 sq. ft. • Commencement of development occurs with the demolition of the existing building, which must be within or later than four months after registration of the development agreement. The Development Agreement was registered on the 15 February 2017. 10 169 WYSE ROAD | DARTMOUTH, NS CBRE CAPITAL MARKETS ATLANTIC CANADA PROPERTY OVERVIEW NORTHERN ELEVATION 6.5’ 12.5’ 115.5’ 25.3’ 21.6’ METAL PANEL 1 METAL PANEL 2 ALUM. RAILING GLAZING .rvt METAL PANEL 3 BRICK BUILDING ENTRY TH TH Dwg - A49 WORK\11.1_A49 WORK\REVIT\WyseRoad_CENTRAL TH TH GARAGE ENTRY ENTRY ENTRY ENTRY ENTRY VERSION 1.6 SCALE NORTH NORTH ELEVATION NTS N 169 WYSE ROAD Date: 20-JAN-201630-JUNE-2016 1/20/2016 7:13:20 PM S:\A49 Temp Folder\131-23735 Wyse Rd_Dartmouth\11_ LETTER - 8.5" x 11" DARTMOUTH, NS | 169 WYSE ROAD 11 CBRE CAPITAL MARKETS ATLANTIC CANADA PROPERTY OVERVIEW GROUND FLOOR PELZANT STREET 2ND LVL - TH 532.97 2B - TH 2B -TH 2B - TH 2B - TH RETAIL OPEN TO 979.01 710.92 710.92 876.84 2ND LVL - TH BELOW 1061.19 507.53 2ND LVL - TH 502.58 1B 1B 1B 622.13 605.07 617.42 AMENITY P.B. RETAIL GEORGE STREET GEORGE 1095.93 WYSE ROAD 2ND LVL - TH P.B. 25.99 P.B. 888.09 530.56 47.29 52.07 [email protected] P.B. = PRIVATE BALCONY VERSION 1.6 SCALE NORTH LEVEL 1 - WYSE RD N 02 4 10m 169 WYSE ROAD Date: 27-JULY-2016 7/27/2016 2:43:31 PM C:\Users\catherine.hefler\Documents\WyseRoad_CENTRA LETTER - 8.5" x 11" 12 169 WYSE ROAD | DARTMOUTH, NS CBRE CAPITAL MARKETS ATLANTIC CANADA PROPERTY OVERVIEW SECOND FLOOR PELZANT STREET P.B. 649.30 1B 2ND LVL - TH 2ND LVL 2ND LVL 2ND LVL - TH 2B 534.61 1040.19 771.64 771.64 937.64 1061.19 P.B. 1B 570.30 436.06 P.B. 59.02 1B 606.62 P.B. 1B 1B P.B. 1B 2B GEORGE STREET GEORGE 1B WYSE ROAD 651.40 618.10 25.99 621.33 1041.68 527.21 544.74 P.B. 51.61 P.B. P.B. P.B. 33.97 48.37 79.35 [email protected] VERSION 1.6 SCALE NORTH LEVEL 2 N 02 4 10m 169 WYSE ROAD Date: 27-JULY-2016 7/27/2016 2:43:31 PM C:\Users\catherine.hefler\Documents\WyseRoad_CENTRA LETTER - 8.5" x 11" DARTMOUTH, NS | 169 WYSE ROAD 13 CBRE CAPITAL MARKETS ATLANTIC CANADA PROPERTY OVERVIEW THIRD FLOOR PLAN PELZANT STREET P.B. P. B. P.B. P. B. 210.41 204.81 210.26 209.96 1B 1B 1B 1B 2B 672.08 638.80 656.25 670.65 1061.19 COMMON BALCONY 1674.56 P.B. 1B 1B 1B 1B 2B 80.98 639.43 618.10 606.62 621.33 1018.35 P.B. GEORGE STREET GEORGE 25.99 P.B. WYSE ROAD 51.61 P.B. P.B. P.B. 34.93 41.65 98.93 [email protected] VERSION 1.6 SCALE NORTH LEVEL 3 N 02 4 10m 169 WYSE ROAD Date: 27-JULY-2016 7/27/2016 2:43:32 PM C:\Users\catherine.hefler\Documents\WyseRoad_CENTRA LETTER - 8.5" x 11" 14 169 WYSE ROAD | DARTMOUTH, NS CBRE CAPITAL MARKETS ATLANTIC CANADA PROPERTY OVERVIEW FOURTH FLOOR PLAN PELZANT STREET P.B.